Valeant Pharma Insiders bet on better days ahead
Insider buying at Valeant Pharmaceuticals (VRX) over the past year has the characteristics of contrarian insider investing - multiple insiders buying in an out-of-favour stock. Typically these insider bets are of interest to other contrarian investors who have long-term horizons of a year or more. Now, the stock may be catching the attention of momentum and growth-oriented investors as the stock appears to be coming to life. It crossed above its 200-day moving average on Friday and has remained there since.
The stock is up 50.2% over the past three months, ahead of both the INK Canadian Insider Index (down 0.03%) and the S&P/TSX Composite Index (down 1.93%) over the same period. Importantly, we have seen insider buying during that period which serves to reinforce the notion that the stock may be broadening its appeal beyond the contarian investing crowd. Download today's INK Company report to see who is buying and selling. You will also get our INK Edge outlook for the stock.
Read more about our INK Edge outlook V.I.P. ranking process by clicking here.
Canadian Insider Club members enjoy 3 free INK Company report downloads each month in addition to receiving our daily Morning INK, weekly Market INK and monthly Top 40, Top 30 Energy and Top 20 Gold reports. Members also enjoy a third-party banner ad free experience.
INK Research Premium Services
