Valeant Pharmaceuticals International, Inc. (NYSE:VRX)
Valeant Pharmaceuticals International, Inc. (NYSE:VRX), declared that members of its senior administration team will be presenting at the Jefferies Autumn 2015 Global Healthcare Conference in London , UK.
Valeant will present on Wednesday, November 18, 2015 between 1:20 p.m. – 2:00 p.m. GMT ( 8:20 a.m. – 9:00 a.m. ET ) at The May Fair Hotel.
Recent Controversy Faced By The Company:
Philidor
On October 21, 2015, trading of Valeant’s stock was halted 3 times as the stock declined by 28% that day following a report by Citron Research group that claims to have a “smoking gun” on the company’s activities, claiming that Valeant is using pharmacies related to the Pennsylvania-licensed specialty pharmacy Philidor Rx Services to store inventory and record the transactions as sales. Pershing Square hedge fund manager Bill Ackman is a major investor in Valeant, and has lost an estimated $600 million “in seconds” as the stock’s shares dropped on October 21.
During the October investigations Valeant revealed that it has an option to buy one of the specialty pharmacies in question, Philidor RX Services.
A major allegation is that, by controlling the pharmacy services offered by Philidor, Valeant steered Philidor’s customers to expensive drugs sold by Valeant. One alleged practice entailed Valeant employees directly managing Philidor’s business operations while posing as Philidor employees and with all written communication under fictitious names.
In response to investigations into “questionable practices” at Valeant Pharmaceuticals International Inc’s partner pharmacy, Philidor Rx Services, in October 2015 Express Scripts — the largest pharmacy benefit administration (PBM) organization in the United States - began reviewing pharmacy programs run by AbbVie Inc and Teva Pharmaceuticals Industries Ltd regarding the potential use of tactics that “can allow drugmakers to work around reimbursement restrictions” from Express Scripts and other insurers. Insurers like Express Scripts direct “patients to cheaper generic versions of widely-used medicines to save costs.”
On October 22, Alex Arfaei, an analyst with BMO Capital Markets — who has promoted Valeant’s stock purchase since 2013 — downgraded Valeant’s shares. Arfaei questioned Valeant’s close ties to specialty pharmacies that distribute its drugs arguing that BMO Valeant’s arrangements with the specialty was “not just aggressive, but questionable” and that BMO “cannot defend the specialty pharmacy structure.”
Valeant responded that Citron Research group accusations that Valeant was the ‘Pharmaceutical Enron’ were “erroneous.”
On October 30, Valeant cut ties with Philidor.
Valeant Pharmaceuticals International, Inc. develops, manufactures, and markets pharmaceuticals, over-the-counter products, and medical devices worldwide. The company offers Solodyn to treat red and pus-filled pimples of acne in patients, in addition to Ziana, Acanya, Atralin, Retin- A Micro, and ONEXTON gel; Wellbutrin XL for major depressive disorder in adults; Jublia for onychomycosis of the toenails; Xenazine for chorea; Targretin for Cutaneous T-Cell Lymphoma; Arestin, a subgingival sustained-release antibiotic; and PROVENGE for the treatment of prostate cancer.
J C Penney Company Inc (NYSE:JCP)
On Thursday, J C Penney Company Inc (NYSE:JCP)’s shares inclined 3.29% to $8.80.
JCP has 85.40% institutional ownership while its EPS ratio was -1.81. The company has 305.49 million shares outstanding while market capitalization of the company was $2.59 billion. Price to book ratio was 1.62. Net profit margin of the company was -4.50% while gross profit margin was 35.80%. Stock volatility for the month was booked as 5.05% while for the week was recorded as 4.08%.
The mean estimate for the short term price target for J C Penney Company Inc (JCP) stands at $10.05 according to 20 Analysts. The higher price target estimate for the stock has been calculated at $17.00 while the lower price target estimate is at $5.00.
Analysts mean recommendation for the stock is 3.00. This number is based on a 1 to 5 scale where 1 indicates a Strong Buy recommendation while 5 represents a Strong Sell.
J C. Penney Company, Inc. (JCPenney) is a holding company. The Company’s operating subsidiary is J. C. Penney Corporation, Inc. (JCP). The Company’s business consists of selling merchandise and services to consumers through its department stores and Website at jcpenney.com, which utilizes applications for desktop, mobile and tablet devices.
Qunar Cayman Islands Ltd (NASDAQ:QUNR)
Qunar Cayman Islands Ltd (NASDAQ:QUNR)’s shares gained 1.42% to $41.46.
QUNR has the market capitalization of $5.34 billion. The stock has P/B ratio of -15.59 while EPS was $-3.61. Institutional ownership of the company was 84.10% while 134.38 million shares were outstanding. Share of the company moved above its SMA 50 with 15.87%. ROE ratio was -709.80% while ROI was 1090.00%.
The mean estimate for the short term price target for Qunar Cayman Islands Ltd (QUNR) stands at $45.14 according to 14 Analysts. The higher price target estimate for the stock has been calculated at $59.89 while the lower price target estimate is at $32.94.
Analysts mean recommendation for the stock is 2.70. This number is based on a 1 to 5 scale where 1 indicates a Strong Buy recommendation while 5 represents a Strong Sell.
Qunar Cayman Islands Limited (Qunar) is engaged in offering mobile and online commerce platform for travel in China. The Company offers a range of travel products, including flights, hotels, vacations packages, attraction tickets and other travel related offerings.
Cheniere Energy, Inc. (NYSEMKT:LNG)
At the end of Thursday’s trade, Cheniere Energy, Inc. (NYSEMKT:LNG)‘s shares dipped -0.33% to $44.95.
LNG Its past 5-day performance at -9.23% . So far in 2015, the company has a year-to-date performance of -36.15%. The stock, as of last close, traded 2.09% up from its 52 week low and was -45.48% below its 52 week high. Its latest closing price was -32.97% below the SMA200 while the distance from SMA 50 and SMA 20 was -10.50% and -4.39% respectively.
The mean estimate for the short term price target for Cheniere Energy, Inc. (LNG) stands at $75.50 according to 10 Analysts. The higher price target estimate for the stock has been calculated at $100.00 while the lower price target estimate is at $62.00.
Analysts mean recommendation for the stock is 2.20. This number is based on a 1 to 5 scale where 1 indicates a Strong Buy recommendation while 5 represents a Strong Sell.
Cheniere Energy, Inc. is an energy company engaged in Liquefied natural gas (LNG) businesses. The Company operates through two segments: LNG terminal business, and LNG and natural gas marketing business.
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