Vertex Pharmaceuticals Incorporated (VRTX) was Reiterated by Stifel to “Buy” while Lowering the Price Target of the company shares to $ 105 from a previous price target of $108 . Stifel advised their investors in a research report released on Aug 16, 2016.
On the company’s financial health, Vertex Pharmaceuticals Incorporated reported $0.24 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.20. The company had revenue of $431.61 million for the quarter, compared to analysts expectations of $429.58 million. The company’s revenue was up 159.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.54 EPS.
Vertex Pharmaceuticals Incorporated opened for trading at $101.96 and hit $102.79 on the upside on Monday, eventually ending the session at $102.48, with a gain of 0.94% or 0.95 points. The heightened volatility saw the trading volume jump to 5,47,753 shares. Company has a market cap of $25,392 M.
In a different news, on Aug 12, 2016, Joshua S Boger (director) sold 900 shares at $100.19 per share price. According to the SEC, on May 18, 2016, Amit Sachdev (EVP, Policy, Access & Value) sold 117 shares at $81.67 per share price. On May 18, 2016, Paul M Silva (SVP & Corp Controller) sold 202 shares at $82.06 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.