Vertex Pharmaceuticals (VRTX) received a “buy” rating reiteration today from investment firm Summer Street Research. Summer Street also increased their price target for VTRX a substantial amount from $46 to $72 dollars. VTRX is currently trading above its 50 & 200-day moving averages and 2011 is currently an up year for the company.
Vertex Pharmaceuticals in the business of discovering, developing and commercializing small molecule drugs for the treatment of serious diseases. In November 2010, they submitted a new drug application, or NDA, requesting approval to market telaprevir in the United States for the treatment of patients with chronic hepatitis C virus, or HCV, infection. The company has market capitalization of $11,036,000,000 and 204,413,000 shares outstanding. VTRX has a 52-week high of $58.87 with the low being $31.25 dollars.