After looking at historical pricing for over 90 of the company’s U.S. products, and analyzing prescription volume trends, Piper Jaffray analyst David Amsellem sees “significantly more” downside risk to Valeant Pharmaceuticals’ (VRX) 2016 guidance than upside potential.
The analyst reiterates an Underweight rating on the shares. His price target for the stock remains suspended. Underweight is Piper’s equivalent of a sell rating. Valeant closed Friday down $1.84 to $33.67.
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