Cowen and Company Reiterates Hold Rating for Vertex Pharmaceuticals (VRTX)
Vertex Pharmaceuticals (NASDAQ:VRTX)‘s stock had its “hold” rating reaffirmed by investment analysts at Cowen and Company in a note issued to investors on Wednesday, Analyst Ratings Network.com reports. They currently have a $88.00 target price on the stock. Cowen and Company’s price objective points to a potential upside of 14.12% from the stock’s previous close.
Shares of Vertex Pharmaceuticals (NASDAQ:VRTX) traded down 1.18% on Wednesday, hitting $77.11. The stock had a trading volume of 1,685,843 shares. Vertex Pharmaceuticals has a 52 week low of $38.44 and a 52 week high of $89.96. The stock’s 50-day moving average is $78.04 and its 200-day moving average is $73.28. The company’s market cap is $17.952 billion.
Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, July 29th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by $0.08. The company had revenue of $310.80 million for the quarter, compared to the consensus estimate of $308.02 million. During the same quarter in the previous year, the company posted ($0.31) earnings per share. The company’s revenue for the quarter was down 25.7% on a year-over-year basis. On average, analysts predict that Vertex Pharmaceuticals will post $-2.43 earnings per share for the current fiscal year.
VRTX has been the subject of a number of other recent research reports. Analysts at UBS AG reiterated a “buy” rating on shares of Vertex Pharmaceuticals (NASDAQ:VRTX) in a research note to investors on Wednesday. They now have a $84.00 price target on the stock. Separately, analysts at Goldman Sachs Group Inc. raised their price target on shares of Vertex Pharmaceuticals (NASDAQ:VRTX) from $79.00 to $85.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Finally, analysts at Oppenheimer initiated coverage on shares of Vertex Pharmaceuticals (NASDAQ:VRTX) in a research note to investors on Wednesday, August 21st. They set an “outperform” rating and a $105.00 price target on the stock.
One research analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have given a buy rating to the company. Vertex Pharmaceuticals has an average rating of “Buy” and a consensus target price of $89.84.
In other Vertex Pharmaceuticals news, EVP Peter Mueller sold 7,500 shares of Vertex Pharmaceuticals stock on the open market in a transaction dated Monday, September 16th. The stock was sold at an average price of $77.22, for a total value of $579,150.00. Following the sale, the executive vice president now directly owns 144,400 shares in the company. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) is in the business of discovering, developing, manufacturing and commercializing small molecule drugs for the treatment of serious diseases.
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