Vertex Pharmaceuticals Upgraded to Buy by Goldman Sachs (VRTX)
Vertex Pharmaceuticals (NASDAQ:VRTX) was upgraded by equities research analysts at Goldman Sachs from a “neutral” rating to a “buy” rating in a research note issued to investors on Friday, TheFlyOnTheWall.com reports.
Vertex Pharmaceuticals (NASDAQ:VRTX) opened at 91.55 on Friday. Vertex Pharmaceuticals has a 1-year low of $58.06 and a 1-year high of $99.74. The stock has a 50-day moving average of $91.54 and a 200-day moving average of $79.53. The company’s market cap is $21.796 billion.
Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Tuesday, July 29th. The company reported ($0.61) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.71) by $0.10. The company had revenue of $138.42 million for the quarter, compared to the consensus estimate of $131.85 million. During the same quarter in the prior year, the company posted ($0.03) earnings per share. The company’s quarterly revenue was down 55.5% on a year-over-year basis. Analysts expect that Vertex Pharmaceuticals will post $-2.90 EPS for the current fiscal year.
In other Vertex Pharmaceuticals news, Director Joshua S. Boger sold 5,200 shares of the stock on the open market in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $93.31, for a total value of $485,212.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.
A number of other analysts have also recently weighed in on VRTX. Analysts at Zacks reiterated a “neutral” rating on shares of Vertex Pharmaceuticals in a research note on Thursday, July 31st. They now have a $97.00 price target on the stock. Separately, analysts at TheStreet upgraded shares of Vertex Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, July 9th. Finally, analysts at Oppenheimer downgraded shares of Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Monday, July 7th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Vertex Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $102.20.
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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