Vertex reiterated at market perform by JMP

Vertex Pharmaceuticals, Inc. was reiterated at market perform by JMP Securities analyst Adam Cutler after the company reported its third-quarter financial results. Total revenue of $53.2 million fell short of JMP's estimate of $59.3 million and the street consensus of $65.2 million. The analyst added that for companies like Vertex, which do not yet have substantial product revenue, the stock tends to trade more on the news flow and perceived pipeline value than on quarterly financial results. Shares of the Cambridge, Mass.-based biotechnology company were up $6.09, or 17.62%, at $40.66. (Nasdaq: VRTX)

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