BUZZ-Valeant Pharmaceuticals International Inc: Brokerages cut PT

Wed Nov 11, 2015 10:27am EST
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** Embattled Canadian drugmaker's shares down 1.8 pct at $83.33

** Valeant said on Tuesday its dermatology business would be hurt in the short term as it moves rapidly to sever ties with specialty pharmacy Philidor

** TD Securities cuts PT to $160 from $260, Nomura to $175 from $220, RBC to $206 from $213, JP Morgan to $225 from $265

** "Speculative cloud could continue to overhang the stock until there is more conclusive information regarding Philidor and other ongoing investigations," TD Securities analysts write

** 14 of 22 brokerages rate stock "buy" or higher, 7 "hold" and 1 "sell" ; median PT is $173.50

** Up to Tuesday's close, stock had fallen 46 pct since influential short seller Citron research published its report on Oct. 21 alleging Valeant used specialty pharmacies to inflate its revenue