Cowen and Company Lowers Vertex Pharmaceuticals Price Target to $80.00 (VRTX)
Equities researchers at Cowen and Company lowered their price target on shares of Vertex Pharmaceuticals (NASDAQ:VRTX) from $87.94 to $80.00 in a research report issued on Tuesday, AmericanBankingNews.com reports. The firm currently has a “neutral” rating on the stock. Cowen and Company’s price target suggests a potential upside of 5.14% from the company’s current price.
A number of other analysts have also recently weighed in on VRTX. Analysts at Wells Fargo & Co. reiterated an “outperform” rating on shares of Vertex Pharmaceuticals in a research note to investors on Tuesday. Separately, analysts at Needham & Company reiterated a “buy” rating on shares of Vertex Pharmaceuticals in a research note to investors on Monday, October 21st. They now have a $95.00 price target on the stock. Finally, analysts at UBS AG reiterated a “buy” rating on shares of Vertex Pharmaceuticals in a research note to investors on Wednesday, October 16th. They now have a $84.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have given a buy rating to the company. Vertex Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $89.26.
Shares of Vertex Pharmaceuticals (NASDAQ:VRTX) traded down 2.24% on Tuesday, hitting $76.09. The stock had a trading volume of 3,696,363 shares. Vertex Pharmaceuticals has a 52 week low of $38.44 and a 52 week high of $89.96. The stock has a 50-day moving average of $78.21 and a 200-day moving average of $72.45. The company’s market cap is $17.715 billion.
Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings data on Tuesday, October 29th. The company reported ($0.32) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.33) by $0.01. The company had revenue of $222.00 million for the quarter, compared to the consensus estimate of $278.80 million. During the same quarter last year, the company posted $0.13 earnings per share. Vertex Pharmaceuticals’s revenue was down 34.0% compared to the same quarter last year. Analysts expect that Vertex Pharmaceuticals will post $-2.49 EPS for the current fiscal year.
In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 8,300 shares of Vertex Pharmaceuticals stock on the open market in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $77.06, for a total transaction of $639,598.00. The sale was disclosed in a legal filing with the SEC, which is available at 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.