Vertex Pharmaceuticals (NASDAQ:VRTX) was downgraded by equities research analysts at Summer Street to a “neutral” rating in a research note issued to investors on Wednesday, American Banking and Market News reports.
Vertex Pharmaceuticals (NASDAQ:VRTX) opened at 76.09 on Wednesday. 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) earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.13 earnings per share. The company’s revenue for the quarter was down 34.0% on a year-over-year basis.
VRTX has been the subject of a number of other recent research reports. Analysts at Needham & Company reiterated a “buy” rating on shares of Vertex Pharmaceuticals in a research note to investors on Tuesday. They now have a $95.00 price target on the stock. Separately, 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. Finally, analysts at Wells Fargo & Co. reiterated an “outperform” rating on shares of Vertex Pharmaceuticals in a research note to investors on Tuesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $89.26.
In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 8,300 shares of Vertex Pharmaceuticals stock 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 sale was disclosed in a document filed with the Securities & Exchange Commission, 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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