Valeritas (VLRX) Shares Gap Down to $0.41

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Valeritas Holdings Inc (NASDAQ:VLRX) shares gapped down prior to trading on Thursday . The stock had previously closed at $0.42, but opened at $0.41. Valeritas shares last traded at $0.40, with a volume of 2073885 shares changing hands.

VLRX has been the subject of a number of recent research reports. Oppenheimer reiterated a “buy” rating on shares of Valeritas in a research note on Monday, January 14th. BTIG Research initiated coverage on shares of Valeritas in a research note on Tuesday, December 4th. They issued a “buy” rating and a $1.00 price objective for the company. Finally, Zacks Investment Research upgraded shares of Valeritas from a “hold” rating to a “buy” rating and set a $0.50 price objective for the company in a research note on Saturday, February 23rd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $2.10.

The company has a market cap of $9.98 million, a price-to-earnings ratio of -0.23 and a beta of 2.10. The company has a debt-to-equity ratio of 2.82, a quick ratio of 3.98 and a current ratio of 4.47.

In other Valeritas news, major shareholder Armistice Capital Master Fund acquired 150,000 shares of Valeritas stock in a transaction that occurred on Thursday, December 20th. The stock was acquired at an average cost of $0.34 per share, for a total transaction of $51,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 1.80% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in VLRX. CVI Holdings LLC purchased a new position in shares of Valeritas during the 4th quarter valued at $832,000. Millennium Management LLC purchased a new position in shares of Valeritas during the 4th quarter valued at $165,000. Northern Trust Corp grew its position in shares of Valeritas by 855.4% during the 4th quarter. Northern Trust Corp now owns 185,469 shares of the company’s stock valued at $60,000 after purchasing an additional 166,057 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Valeritas by 730.3% during the 3rd quarter. Renaissance Technologies LLC now owns 163,650 shares of the company’s stock valued at $218,000 after purchasing an additional 143,940 shares in the last quarter. Finally, Weiss Multi Strategy Advisers LLC purchased a new position in shares of Valeritas during the 4th quarter valued at $41,000.

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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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