Vertex Pharmaceuticals Incorporated (VRTX) was Reiterated by Stifel to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 109 from a previous price target of $105 . Stifel advised their investors in a research report released on Sep 15, 2016.
Many Wall Street Analysts have commented on Vertex Pharmaceuticals Incorporated. Vertex Pharmaceuticals Incorporated was Initiated by Raymond James to “Mkt Perform” on Sep 13, 2016. Shares were Reiterated by Stifel on Aug 16, 2016 to “Buy” and Lowered the Price Target to $ 105 from a previous price target of $108 .
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 closed down -5.15 points or -5.41% at $90.12 with 4,994,568 shares getting traded on Wednesday. Post opening the session at $95.02, the shares hit an intraday low of $88.16 and an intraday high of $97.77 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Sep 9, 2016, Joshua S Boger (director) sold 6,500 shares at $95.94 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.