Vertex Pharmaceuticals Lowered to Market Perform at Oppenheimer (VRTX)
Vertex Pharmaceuticals (NASDAQ:VRTX) was downgraded by stock analysts at Oppenheimer from an “outperform” rating to a “market perform” rating in a report issued on Monday, TheFlyOnTheWall.com reports.
In other Vertex Pharmaceuticals news, Director Elaine Ullian sold 5,000 shares of Vertex Pharmaceuticals stock on the open market in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $95.21, for a total transaction of $476,050.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Vertex Pharmaceuticals (NASDAQ:VRTX) traded down 1.98% on Monday, hitting $96.84. The stock had a trading volume of 2,146,603 shares. Vertex Pharmaceuticals has a 1-year low of $58.06 and a 1-year high of $99.58. The stock’s 50-day moving average is $76.92 and its 200-day moving average is $75.20. The company’s market cap is $22.873 billion.
Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.65) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.68) by $0.03. The company had revenue of $118.50 million for the quarter, compared to the consensus estimate of $134.46 million. During the same quarter last year, the company posted $0.03 earnings per share. Vertex Pharmaceuticals’s revenue was down 63.9% compared to the same quarter last year. Analysts expect that Vertex Pharmaceuticals will post $-2.88 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on VRTX. Analysts at Goldman Sachs raised their price target on shares of Vertex Pharmaceuticals to $109.00 in a research note on Wednesday, June 25th. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Wednesday, June 25th. They now have a $136.00 price target on the stock, up previously from $103.00. Finally, analysts at Sanford C. Bernstein raised their price target on shares of Vertex Pharmaceuticals from $65.00 to $107.00 in a research note on Wednesday, June 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $100.03.
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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