Valeritas (NASDAQ:VLRX) Receives Hold Rating from Zacks Investment Research

Zacks Investment Research restated their hold rating on shares of Valeritas (NASDAQ:VLRX) in a report published on Saturday morning, Zacks.com reports. They currently have a $1.50 target price on the stock.

According to Zacks, “Valeritas Holdings Inc. is a commercial-stage medical technology company which focused on developing technologies for Type 2 diabetes. The company’s product pipeline consists of V-Go (R) Disposable Insulin Delivery device, is a simple, wearable, basal-bolus insulin delivery solution for Type 2 diabetes which enables patients to administer a continuous preset basal rate infusion of insulin. Valeritas Holdings Inc. is headquartered in Bridgewater, New Jersey. “

Other analysts have also recently issued research reports about the company. Oppenheimer upped their price objective on Valeritas from $1.25 to $12.00 and gave the company an outperform rating in a research report on Tuesday, July 9th. ValuEngine upgraded Valeritas from a hold rating to a buy rating in a research report on Wednesday, September 4th. Finally, BTIG Research reiterated a buy rating and set a $14.00 price objective on shares of Valeritas in a research report on Sunday, August 11th.

VLRX stock opened at $1.31 on Friday. Valeritas has a 1-year low of $1.10 and a 1-year high of $25.40. The business has a fifty day moving average price of $1.52 and a 200-day moving average price of $1.91. The company has a debt-to-equity ratio of 29.19, a current ratio of 2.58 and a quick ratio of 2.06. The stock has a market capitalization of $6.90 million, a P/E ratio of -0.04 and a beta of 1.89.

Valeritas (NASDAQ:VLRX) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($2.73) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.90) by $0.17. Valeritas had a negative return on equity of 45,700.07% and a negative net margin of 187.83%. The firm had revenue of $7.51 million during the quarter, compared to analysts’ expectations of $7.50 million. As a group, analysts anticipate that Valeritas will post -10.4 earnings per share for the current year.

An institutional investor recently bought a new position in Valeritas stock. Bank of New York Mellon Corp purchased a new position in Valeritas Holdings Inc (NASDAQ:VLRX) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 26,037 shares of the company’s stock, valued at approximately $68,000. Bank of New York Mellon Corp owned approximately 0.49% of Valeritas as of its most recent SEC filing. 23.91% of the stock is owned by institutional investors and hedge funds.

Valeritas Company Profile

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. The company offers V-Go, a wearable insulin delivery device for basal-bolus therapy. It also develops V-Go Prefill that is in the design-development stage for eliminating the device-filling process and the need for EZ fill refrigeration for patients with Type 2 diabetes; and V-Go SIM for real-time tracking information of basal and bolus dosing utilization.

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