Vertex Pharmaceuticals Rating Increased to Buy at Needham & Company (VRTX)
Vertex Pharmaceuticals (NASDAQ: VRTX) was upgraded by investment analysts at Needham & Company from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm currently has a $65.00 target price on the stock.
Vertex Pharmaceuticals traded down 5.61% on Tuesday, hitting $60.56. Vertex Pharmaceuticals has a 1-year low of $26.50 and a 1-year high of $64.50. The company has a market cap of $12.770 billion and a price-to-earnings ratio of 45.63.
Vertex Pharmaceuticals last released its earnings data on Thursday, April 26th. The company reported $0.43 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.57 by $0.14. The company’s quarterly revenue was up 496.5% on a year-over-year basis. Analysts expect that Vertex Pharmaceuticals will post $0.70 EPS next quarter.
Other equities research analysts have also recently issued reports about the stock. Analysts at Brean Murray Carret & Co. upgraded shares of Vertex Pharmaceuticals to a “buy” rating in a research note to investors on Monday. Separately, analysts at Brean Murray upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research note to investors on Monday. Finally, analysts at JPMorgan Chase (NYSE: JPM) reiterated a “neutral” rating on shares of Vertex Pharmaceuticals in a research note to investors on Monday.
Vertex Pharmaceuticals Incorporated (Vertex) is in the business of discovering, developing, manufacturing and commercializing small molecule drugs for the treatment of serious diseases.