Vertex at market perform by JMP

Vertex Pharmaceuticals, Inc. was reiterated at market perform by JMP Securities analyst Adam Cutler after the company reported first-quarter results. The analyst noted that with companies like Vertex (not yet having substantial product revenue), stock trades on perceived value of the pipeline rather than financial results. Vertex's oral hepatitis C virus protease inhibitor VX-950 has shown antiviral activity in phase 1b and phase 2a studies. It is expected to enter phase 2 studies as part of the company's aggressive timeline. Shares of the Cambridge, Mass., pharmaceutical company were down $2.68, or 7.15%, at $34.82 on volume of 4,025,070 shares versus the three-month running average of 1,754,170 shares. (Nasdaq: VRTX)

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