Vertex Pharmaceuticals Stock Rating Upgraded by UBS AG (VRTX)
Vertex Pharmaceuticals (NASDAQ:VRTX) was upgraded by equities researchers at UBS AG from a “neutral” rating to a “buy” rating in a research report issued on Monday, TheFlyOnTheWall.com reports. The firm currently has a $99.00 price objective on the stock, up from their previous price objective of $84.00. UBS AG’s price target points to a potential upside of 31.13% from the company’s current price.
Vertex Pharmaceuticals (NASDAQ:VRTX) traded up 2.79% during mid-day trading on Monday, hitting $75.50. The stock had a trading volume of 1,701,749 shares. Vertex Pharmaceuticals has a 52 week low of $43.57 and a 52 week high of $89.96. The stock’s 50-day moving average is $68.32 and its 200-day moving average is $74.83. The company’s market cap is $17.649 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 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. Analysts expect that Vertex Pharmaceuticals will post $-2.68 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on VRTX. Analysts at Sanford C. Bernstein downgraded shares of Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note to investors on Thursday, October 31st. Separately, analysts at Credit Suisse cut their price target on shares of Vertex Pharmaceuticals from $80.00 to $78.00 in a research note to investors on Wednesday, October 30th. They now have a “neutral” rating on the stock. Finally, analysts at Summer Street downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Vertex Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $93.29.
In other Vertex Pharmaceuticals news, Director Bruce Sachs unloaded 8,300 shares of the stock on the open market in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $73.02, for a total transaction of $606,066.00. Following the completion of the transaction, the director now directly owns 46,510 shares of the company’s stock, valued at approximately $3,396,160. 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.
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