Barclays Defends Vertex (VRTX): A Few Concerns, But Making Moves In The Right Direction
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Price: $78.80 --0%
Rating Summary:
17 Buy, 11 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 16 | New: 20
Rating Summary:
17 Buy, 11 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 16 | New: 20
Trade VRTX Now!
Barclays maintains an 'Overweight' on Vertex (NASDAQ: VRTX) price target of $69.00.
Analyst, Ying Huang is out defending the company/stock, saying the despite the change in Chief Legal Officer and retirement of Chief Commercial Officer, Huang and Barclays remain bullish on the company's cystic fibrosis story.
However, Huang does not a few concerns, including: 1) Insider sales - five executives and 2 board members have been dumping shares; and 2) The revision of Kalydeco/VX-809 interim data. It's puzzling that nobody at the company caught the press release regarding the Phase IIb trial data before it went public (which sent shares up 55%), only to retract the dissemination and then issue revised data (sending shares down over 20%).
For an analyst ratings summary and ratings history on Vertex click here. For more ratings news on Vertex click here.
Shares of Vertex closed at $56.98 yesterday, with a 52 week range of $26.50-$66.10.
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Analyst, Ying Huang is out defending the company/stock, saying the despite the change in Chief Legal Officer and retirement of Chief Commercial Officer, Huang and Barclays remain bullish on the company's cystic fibrosis story.
However, Huang does not a few concerns, including: 1) Insider sales - five executives and 2 board members have been dumping shares; and 2) The revision of Kalydeco/VX-809 interim data. It's puzzling that nobody at the company caught the press release regarding the Phase IIb trial data before it went public (which sent shares up 55%), only to retract the dissemination and then issue revised data (sending shares down over 20%).
For an analyst ratings summary and ratings history on Vertex click here. For more ratings news on Vertex click here.
Shares of Vertex closed at $56.98 yesterday, with a 52 week range of $26.50-$66.10.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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