Market Update (NASDAQ:VRTX): Enterome In-licenses Novel Compounds From Vertex Pharmaceuticals to Treat Microbiome-related Inflammatory Bowel Diseases

[PR Newswire] – ENTEROME Bioscience SA, a pioneer in the development of pharmaceuticals and diagnostics based on the gut microbiome, has signed an exclusive worldwide license agreement with Vertex Pharmaceuticals Inc. (VRTX) to research, develop and commercialize novel small molecule FimH antagonists for use in the treatment of inflammatory bowel diseases (IBD). Enterome plans to take the lead compound in this program, known as EB 8018, into first human clinical trials during 2016 as well as a companion diagnostic to identify patients with inflammatory bowel diseases (IBD) who will benefit from their use. Through application of its metagenomics platform, Enterome has identified a key bacterial species – adherent-invasive Escherichia coli (AIEC) – which is responsible for triggering inflammation in IBD. Read more on this. Vertex Pharmaceuticals Incorporated (VRTX) , with a current value of $20.73B, opened this morning at $81.42. Shares have traded today between $81.42 and $85.90 per share and has traded between $75.90 and $143.45 over the past year. Priced at 40.88x this year’s forecasted earnings, VRTX shares are relatively expensive compared to the industry’s -2.49x forward p/e ratio. Consensus earnings for the current quarter by the 19 sell-side analysts covering the stock is an estimate of $0.30 per share, which would be $0.30 worse than the year-ago quarter and a $0.10 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $2.00 is a $3.11 better when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $439.55 Million. If reported, that would be a 217.36% increase over the year-ago quarter. More recently, Jefferies upgraded VRTX from Hold to Buy (Feb 1, 2016). Previously, Credit Suisse Initiated VRTX at to Outperform. The average price target for VRTX shares by the analysts covering the stock is $122.57, which is 50.54% above where the stock opened this morning. See more in (NASDAQ:VRTX) Similar Articles: Stock Update: Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) – Vertex to Announce First Quarter 2016 Financial Results on April 27 Stock Update: Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) – What Vertex’s Results Mean for Corbus, ProQR, and Nivalis Market Update: Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) – Vertex Receives Complete Response Letter from U.S. FDA for Use of KALYDECO® (ivacaftor) in People with Cystic Fibrosis Ages 2 and Older with One of 23 Residual Function Mutations