Vertex Pharmaceuticals Incorporated (VRTX) was Downgraded by Goldman to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Goldman advised their investors in a research report released on Apr 28, 2016.
Many Wall Street Analysts have commented on Vertex Pharmaceuticals Incorporated. Shares were Reiterated by Stifel on Apr 1, 2016 to “Buy” and Lowered the Price Target to $ 108 from a previous price target of $140 .Shares were Reiterated by RBC Capital Mkts on Mar 18, 2016 to “Outperform” and Lowered the Price Target to $ 135 from a previous price target of $145 .Shares were Reiterated by Argus on Feb 4, 2016 to “Buy” and Lowered the Price Target to $ 140 from a previous price target of $154 .
On the company’s financial health, Vertex Pharmaceuticals Incorporated reported $0.09 EPS for the quarter, missing the analyst consensus estimate by $ -0.19 based on the information available during the earnings call on Apr 27, 2016. Analyst had a consensus of $0.28. The company had revenue of $398.10 million for the quarter, compared to analysts expectations of $438.21 million. The company’s revenue was up 187.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.62 EPS.
Vertex Pharmaceuticals Incorporated opened for trading at $83.79 and hit $85.76 on the upside on Wednesday, eventually ending the session at $84.5, with a gain of 0.43% or 0.36 points. The heightened volatility saw the trading volume jump to 26,14,905 shares. Company has a market cap of $20,820 M.
In a different news, on Apr 22, 2016, Joshua S Boger (director) sold 5,130 shares at $84.38 per share price. According to the SEC, on Feb 4, 2016, Ian F Smith (EVP & CFO) sold 12,084 shares at $91.32 per share price. On Feb 4, 2016, Paul M Silva (SVP & Corp Controller) sold 5,062 shares at $91.63 per share price, according to the Form-4 filing with the securities and exchange commission.
Vertex Pharmaceuticals Incorporated (Vertex) is a global biotechnology company. The Company is engaged in the business of discovering developing manufacturing and commercializing small molecule drugs. The Company uses precision medicine approaches to create transformative drugs for patients with serious diseases in specialty markets. Vertexs business is focused on developing and commercializing therapies for the treatment of cystic fibrosis (CF). It is also engaged in other research and early-stage development programs including programs in the areas of oncology and neurology. The Companys product candidates include KALYDECO (ivacaftor) Lumacaftor in combination with Ivacaftor VX-661 in combination with Ivacaftor VX-803 VX-970 and VX-222. The Companys product KALYDECO is available in the market.