Bausch Health Companies Inc [NYSE: BHC] closed the trading session at $9.69. The company report on April 5, 2024 at 6:15 PM that Bausch Health Announces Patent Lawsuit Against Amneal Pharmaceuticals.
Bausch Health Companies Inc. (NYSE:BHC)(TSX:BHC) along with its gastroenterology business, Salix Pharmaceuticals, Inc., announced that it filed a lawsuit today in the United States District Court for the District of New Jersey against Amneal Pharmaceuticals of New York, LLC, Amneal EU, Limited, Amneal Pharmaceuticals, LLC, Amneal Pharmaceuticals Private Limited, and Amneal Pharmaceuticals, Inc. This lawsuit follows receipt of a Notice of Paragraph IV Certification stating that Amneal submitted an Abbreviated New Drug Application (ANDA) to the U.S. Food and Drug Administration (FDA) seeking approval to market a generic version of XIFAXAN® (rifaximin) 550 mg tablets. Amneal asserts that certain patents listed in the FDA’s Orange Book for XIFAXAN® are unenforceable, invalid, and
“Bausch Health remains confident in its XIFAXAN® intellectual property and we will continue to defend our XIFAXAN® franchise for the benefit of patients,” Thomas J. Appio, CEO, Bausch Health said. “As a leader in gastrointestinal health, protecting our intellectual property is essential to our ability to continue to develop innovative therapies.”.
The stocks have a year to date performance of 20.82 percent and weekly performance of -6.83 percent. The stock has been moved at 17.74 percent over the last six months. The stock has performed 4.42 percent around the most recent 30 days and changed 18.17 percent over the most recent 3-months.
If compared to the average trading volume of 2.56M shares, BHC reached to a volume of 6315354 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Bausch Health Companies Inc [BHC]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BHC shares is $10.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BHC stock is a recommendation set at 2.83. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Jefferies have made an estimate for Bausch Health Companies Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 20, 2023. The new note on the price target was released on June 16, 2023, representing the official price target for Bausch Health Companies Inc stock. On July 29, 2022, analysts decreased their price target for BHC shares from 12 to 5.
The Average True Range (ATR) for Bausch Health Companies Inc is set at 0.46, with the Price to Sales ratio for BHC stock in the period of the last 12 months amounting to 0.40. Price to Free Cash Flow for BHC in the course of the last twelve months was 4.58 with Quick ratio for the last quarter at 0.94.
BHC stock trade performance evaluation
Bausch Health Companies Inc [BHC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.83. With this latest performance, BHC shares gained by 4.42% in over the last four-week period, additionally plugging by 17.74% over the last 6 months – not to mention a rise of 30.59% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BHC stock in for the last two-week period is set at 50.58, with the RSI for the last a single of trading hit 45.52, and the three-weeks RSI is set at 53.47 for Bausch Health Companies Inc [BHC]. The present Moving Average for the last 50 days of trading for this stock 9.10, while it was recorded at 10.08 for the last single week of trading, and 8.24 for the last 200 days.
Bausch Health Companies Inc [BHC]: An insightful look at the core fundamentals
Bausch Health Companies Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.94 and a Current Ratio set at 1.30.
Earnings per share (EPS) analysis for Bausch Health Companies Inc [BHC] stock
With the latest financial reports released by the company, Bausch Health Companies Inc posted 0.52/share EPS, while the average EPS was predicted by analysts to be reported at 0.72/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -27.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BHC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Bausch Health Companies Inc go to 2.60%.
Bausch Health Companies Inc [BHC]: Institutional Ownership
The top three institutional holders of BHC stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in BHC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in BHC stock with ownership which is approximately 5.8386%.
