Today’s Research Reports on Stocks to Watch: Valeant Pharmaceuticals and Celsion Corporation
Valeant Pharmaceuticals and Celsion Corporation were pharmaceutical stocks that saw gains on Friday. Valeant got a lift in share price after legendary investor Bill Miller revealed how much he likes the stock while Celsion Corporation flew higher after withdrawing its plans for a stock offering.
RDI Initiates Coverage on:
Valeant Pharmaceuticals International, Inc.
Valeant Pharmaceuticals International, Inc. shares closed up 4.50% on Friday. It seems that legendary investor Bill Miller likes the company. He had good things to say about the company’s CEO Joe Papa and also said he thinks the stock would rise 50 percent over the next year. Even more optimistically, he thinks the stock could rise to $60 in the next three to five years. Traders were digging this as shares flew into the green. It’s been a little over a month since Valeant reported its disappointing first quarter earnings report. The company saw adjusted earnings per share of $0.78 for the quarter which significantly missed the $0.96 that analysts had expected according to the Zack’s Consensus Estimate. Revenue at $2.10 billion also missed the Zack’s Consensus Estimate of $2.16 billion and was an 11% drop from the year ago quarter.
Access RDI’s Valeant Pharmaceuticals Research Report at:
Celsion Corporation was one of the biggest winners on the NASDAQ this past Friday, with shares closing up 56.10%. The stock’s share price sprang to life after it was revealed that the cancer drug development company had filed to withdraw plans for a stock offering. It was in April that Celsion had originally filed an S-1 statement with the SEC for the sale of shares. Just last Wednesday the company had even amended the statement for the sale of 2.45 million common shares and pre-funded and base warrants to buy over 4 million shares. On Friday however, Celsion announced in a filing that it had withdrawn the submitted statement and said it was "because it does not intend to pursue the contemplated offering at this time." Before its gains on Friday, the stock had been down 52% YTD.
Access RDI’s Celsion Corporation Research Report at:
Our Actionable Research on Valeant Pharmaceuticals International, Inc. (NYSE: VRX) and Celsion Corporation (NASDAQ: CLSN) can be downloaded free of charge at Research Driven Investing.
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