Vertex Pharmaceuticals’s “Buy” Rating Reaffirmed at Needham & Company (VRTX)
Vertex Pharmaceuticals (NASDAQ:VRTX)‘s stock had its “buy” rating restated by stock analysts at Needham & Company in a report issued on Tuesday, American Banking and Market News reports. They currently have a $95.00 price target on the stock. Needham & Company’s price target indicates a potential upside of 24.85% from the stock’s previous close.
In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 8,300 shares of the company’s stock on the open market in a transaction dated Thursday, October 24th. The stock was sold at an average price of $77.06, for a total value of $639,598.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Vertex Pharmaceuticals (NASDAQ:VRTX) traded down 2.24% during mid-day trading on Tuesday, hitting $76.09. 3,696,363 shares of the company’s stock traded hands. 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 posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.32) EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.13 earnings per share. The company’s quarterly revenue was down 34.0% on a year-over-year basis. On average, analysts predict that Vertex Pharmaceuticals will post $-2.49 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Cowen and Company cut their price target on shares of Vertex Pharmaceuticals from $87.94 to $80.00 in a research note to investors on Tuesday. They now have a “neutral” rating on the stock. Separately, analysts at Wells Fargo & Co. reiterated an “outperform” rating on shares of Vertex Pharmaceuticals in a research note to investors on Tuesday. 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 analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $89.26.
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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