JPMorgan Chase Upgrades Vertex Pharmaceuticals to Overweight (VRTX)
Vertex Pharmaceuticals (NASDAQ: VRTX) was upgraded by equities researchers at JPMorgan Chase (NYSE: JPM) from a “neutral” rating to an “overweight” rating in a report issued on Monday. The firm currently has a $54.00 target price on the stock.
Shares of Vertex Pharmaceuticals traded down 0.83% during mid-day trading on Monday, hitting $64.16. Vertex Pharmaceuticals has a one year low of $26.50 and a one year high of $65.37. The company has a market cap of $13.529 billion and a P/E ratio of 46.02.
Vertex Pharmaceuticals last issued its quarterly earnings data on Thursday, April 26th. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by $0.14. The company’s revenue for the quarter was up 496.5% on a year-over-year basis. On average, analysts predict that Vertex Pharmaceuticals will post $0.71 earnings per share next quarter.
A number of other firms have also recently commented on VRTX. Analysts at Goldman Sachs (NYSE: GS) reiterated a “neutral” rating on shares of Vertex Pharmaceuticals in a research note to investors on Friday. They now have a $60.00 price target on the stock, up previously from $40.00. Separately, analysts at RBC Capital (NYSE: RY) downgraded shares of Vertex Pharmaceuticals from a “top pick” rating to an “outperform” rating in a research note to investors on Thursday, May 10th. Finally, analysts at Leerink Swann reiterated an “outperform” rating on shares of Vertex Pharmaceuticals in a research note to investors on Tuesday, May 8th.
Vertex Pharmaceuticals Incorporated (Vertex) is in the business of discovering, developing, manufacturing and commercializing small molecule drugs for the treatment of serious diseases.