Valeant Pharma. (VRX) NewsBite - Bearish Barron's Coverage Pulls Down VRX

Posted: Monday, November 23, 2009 11:02 AM EDT

Valeant Pharmac. (NYSE: VRX) opened at $32.15. So far today, the stock has hit a low of $31.88 and a high of $32.95. VRX is now trading at $32.04, down $1.24 (-3.73%). Over the last 52 weeks the stock has ranged from a low of $15.64 to a high of $34.44. VRX shares are trading lower this morning after an article in Barron's released over the weekend said the company could see trouble ahead if its experimental epilepsy drug, which is undergoing the regulatory review process, is not profitable enough to offset declining royalties from its hepatitis C treatment. This could be a bad sign for VRX. Technical indicators for the stock are bullish and S&P does not currently have a STARS rating for VRX. If you are looking for a hedged play on VRX the stock seems like it could be a candidate for a June out-of-the-money bear-call credit spread above the 40 range. [ABR-Seven Summits Strategic Investments NewsBite]

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