Valeritas (NASDAQ:VLRX) announced its quarterly earnings results on Friday. The company reported ($0.49) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.56) by $0.07, MarketWatch Earnings reports. The business had revenue of $6.93 million during the quarter. Valeritas had a negative net margin of 205.12% and a negative return on equity of 1,768.69%. Valeritas updated its FY 2018 guidance to EPS.
NASDAQ:VLRX traded down $0.12 during mid-day trading on Friday, hitting $1.08. 684,617 shares of the company’s stock traded hands, compared to its average volume of 355,958. The company has a current ratio of 4.03, a quick ratio of 3.42 and a debt-to-equity ratio of 13.66. Valeritas has a 1 year low of $0.78 and a 1 year high of $6.79. The company has a market capitalization of $28.59 million, a P/E ratio of -0.13 and a beta of 2.58.
A number of large investors have recently bought and sold shares of the business. Essex Investment Management Co. LLC purchased a new position in Valeritas during the 2nd quarter valued at about $448,000. C WorldWide Group Holding A S increased its holdings in Valeritas by 28.0% during the 2nd 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. Finally, Bainco International Investors purchased a new position in Valeritas during the 2nd quarter valued at about $228,000. Hedge funds and other institutional investors own 7.38% of the company’s stock.
Separately, Oppenheimer set a $4.00 price target on shares of Valeritas and gave the company a “buy” rating in a report on Tuesday, August 7th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Valeritas currently has a consensus rating of “Buy” and a consensus target price of $3.67.
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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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