Valeant’s poorly-received quarterly result pushed the stock to the lower-end of my price target ($15.68), established on October 5. The company took a $1B goodwill write-down and missed a few $500 million items. This includes revenue, EBITDA, and the forecast. R&D spend was flat at $100M. The only bright spot did not suggest significant growth: B+L’s sales grew in the single digits.
What a Valeant Shareholder has on hand:
Tipranks picked up my last write-up on Valeant as a “sell.” The average return on VRX is 28%:
Tipranks could not record my notes in the
Other notable calls include Radcom (RDCM), Corning (GLW), Ubiquiti Networks (UBNT).
An update on Valeant is forthcoming. Real-time alert followers will get an email when this is published here. I will update my upside target price (previously at $29 - $32.68).
Separately, Endo International (ENDP) reported a robust quarter but guided lower. It cited - you guessed it - generic drug competition has a headwind. Look for pressure rising for PRGO, AGN, and MYL.