Needham & Company Downgrades Vertex (VRTX) to Hold
Get Alerts VRTX Hot Sheet
Rating Summary:
29 Buy, 11 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
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Needham & Company downgraded Vertex (NASDAQ: VRTX) from Buy to Hold.
Analyst Alan Carr commented, "Vertex reported 4Q14 financial results yesterday after market close. WW Kalydeco 4Q14 sales were $124.4M (+14% y/y). The company pre-announced net sales of approximately $120M earlier this month. The stock has performed well subsequent to two successful ivacaftor/lumacaftor Phase 3 trials in CF in Jun 2014 and in anticipation of commercial launch in 3Q15. We believe current valuation is adequate ($28.5B EV) and therefore we downgrade to HOLD (from BUY). Notwithstanding our rating change, we see limited downside to the stock in 2015."
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 $121.26 yesterday.
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