What Did Valeant Look Like Last Time The Stock Was Under $15?

Valeant Pharmaceuticals Intl Inc VRX stock has tumbled more than 30 percent and hit a new 52-week low of $13.77 before recovering above the $15 per share level.

Investors and traders dumped Valeant's stock after the company's third quarter earnings report fell short of Wall Street's expectations. The company guided its full year 2016 lower.

The last time Valeant's stock traded below the $15 per share mark was back in May 2010.

Flashback

Valeant reported its first quarter results on May 3, 2010. Total revenue for the quarter rose 30 percent from the year earlier to $232 million.

By comparison, Valeant's revenue in the third quarter of 2016 was $2.48 billion.

On May 27, 2010, Valeant completed the acquisition of Aton Pharma, a specialty pharmaceutical company that specializes in ophthalmology and certain orphan drug indications. Valeant paid $318 million for the acquisition.

On June 21, 2010, Valeant announced it was acquired by Biovail in a reverse merger. Valeant's CEO at the time, Mike Pearson, assumed the CEO title of the combined entity and shifted Valeant's domicile to Canada. As part of the agreement, Valeant's investors received a one-time special dividend of $16.77 per share and 1.7809 shares of Biovail's common stock.

The merger was completed on September 28, 2010 and by the end of the month Valeant's stock had risen above $25 per share.

Valeant's stock peeked north of $250 per share in 2015. As it stands, Valeant's stock has essentially wiped out all of the gains it made from 2010 through 2016.

Nevertheless, some among Wall Street, such as analysts at Morgan Stanley, see Valeant's stock more than doubling over time.

Shares traded recently at $15.45, down 19 percent Tuesday morning.