Wells Fargo & Co. Raises Vertex Pharmaceuticals to Outperform (VRTX)
Vertex Pharmaceuticals (NASDAQ: VRTX) was upgraded by analysts at Wells Fargo & Co. (NYSE: WFC) from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday.
A number of other analysts have also recently weighed in on VRTX. Analysts at Morgan Stanley (NYSE: MS) upgraded shares of Vertex Pharmaceuticals from an “underweight” rating to an “equal weight” rating in a research note to investors on Tuesday. They now have a $51.00 price target on the stock. Separately, analysts at Needham & Company upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research note to investors on Tuesday. They now have a $65.00 price target on the stock. Finally, analysts at Brean Murray Carret & Co. upgraded shares of Vertex Pharmaceuticals to a “buy” rating in a research note to investors on Monday.
Vertex Pharmaceuticals traded down 5.63% on Tuesday, hitting $60.55. Vertex Pharmaceuticals has a 52-week low of $26.50 and a 52-week high of $64.50. The company has a market cap of $12.768 billion and a price-to-earnings ratio of 45.63.
Vertex Pharmaceuticals last posted its quarterly earnings results 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.
Vertex Pharmaceuticals Incorporated (Vertex) is in the business of discovering, developing, manufacturing and commercializing small molecule drugs for the treatment of serious diseases.