Valeritas (VLRX) Trading 10.7% Higher

Valeritas Holdings Inc (NASDAQ:VLRX)’s share price traded up 10.7% during trading on Wednesday . The stock traded as high as $1.03 and last traded at $1.14. 7,214 shares traded hands during mid-day trading, a decline of 97% from the average session volume of 224,836 shares. The stock had previously closed at $1.03.

Several equities research analysts have weighed in on the company. Oppenheimer assumed coverage on Valeritas in a report on Thursday, July 5th. They issued an “outperform” rating and a $3.50 target price for the company. Citigroup assumed coverage on Valeritas in a report on Thursday, July 5th. They issued an “outperform” rating and a $3.50 target price for the company. ValuEngine upgraded Valeritas from a “hold” rating to a “buy” rating in a report on Saturday, June 2nd. Finally, assumed coverage on Valeritas in a report on Thursday, July 5th. They issued an “outperform” rating and a $3.50 target price for the company. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $3.67.

The firm has a market capitalization of $22.74 million, a P/E ratio of -0.12 and a beta of 4.14. The company has a debt-to-equity ratio of 13.66, a current ratio of 4.03 and a quick ratio of 3.42.

Valeritas (NASDAQ:VLRX) last announced its quarterly earnings results on Tuesday, August 7th. The company reported ($0.62) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.73) by $0.11. Valeritas had a negative return on equity of 1,768.69% and a negative net margin of 205.12%. The firm had revenue of $6.50 million during the quarter, compared to the consensus estimate of $6.30 million. research analysts forecast that Valeritas Holdings Inc will post -2.76 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bainco International Investors acquired a new stake in Valeritas in the 2nd quarter valued at $228,000. Essex Investment Management Co. LLC acquired a new stake in shares of Valeritas during the second quarter valued at about $448,000. Finally, C WorldWide Group Holding A S grew its stake in shares of Valeritas by 28.0% during the second quarter. C WorldWide Group Holding A S now owns 316,194 shares of the company’s stock valued at $424,000 after acquiring an additional 69,216 shares in the last quarter. Hedge funds and other institutional investors own 7.38% of the company’s stock.

About Valeritas (NASDAQ:VLRX)

Valeritas Holdings, Inc, a commercial-stage medical technology company, focuses on the development and commercialization of technologies to treat patients with Type 2 diabetes in the United States and China. It offers V-Go, a wearable insulin delivery device for basal-bolus therapy. The company also develops h-Patch, a controlled delivery technology platform; Mini-Ject technology for needle-free injection systems; and Micro-Trans technology for microneedle design, fabrication, and drug delivery.

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