Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) has been assigned a consensus rating of “Buy” from the thirty-one brokerages that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-three have issued a buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $167.47.
Several analysts have recently weighed in on the company. Stifel Nicolaus boosted their target price on Vertex Pharmaceuticals from $130.00 to $154.00 and gave the company a “buy” rating in a report on Tuesday, July 18th. Robert W. Baird reissued an “outperform” rating and issued a $171.00 target price (up from $136.00) on shares of Vertex Pharmaceuticals in a report on Friday, July 21st. Needham & Company LLC reissued a “buy” rating and issued a $195.00 target price on shares of Vertex Pharmaceuticals in a report on Friday. Cowen and Company reaffirmed a “market perform” rating and set a $105.00 price objective on shares of Vertex Pharmaceuticals in a research note on Thursday, July 6th. Finally, Janney Montgomery Scott raised Vertex Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $98.00 price objective for the company in a research note on Wednesday, July 19th.
In related news, CEO Jeffrey M. Leiden sold 11,063 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $152.81, for a total value of $1,690,537.03. Following the transaction, the chief executive officer now directly owns 268,455 shares of the company’s stock, valued at approximately $41,022,608.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Paul M. Silva sold 860 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $152.99, for a total value of $131,571.40. Following the completion of the transaction, the senior vice president now directly owns 17,494 shares in the company, valued at $2,676,407.06. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,748 shares of company stock worth $6,734,021. Corporate insiders own 1.80% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of Vertex Pharmaceuticals by 0.8% in the 2nd quarter. BlackRock Inc. now owns 19,405,981 shares of the pharmaceutical company’s stock worth $2,500,849,000 after buying an additional 159,601 shares during the period. Vanguard Group Inc. raised its position in shares of Vertex Pharmaceuticals by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 16,979,872 shares of the pharmaceutical company’s stock worth $2,188,196,000 after buying an additional 504,982 shares during the period. Clearbridge Investments LLC raised its position in shares of Vertex Pharmaceuticals by 1.2% in the 1st quarter. Clearbridge Investments LLC now owns 8,754,618 shares of the pharmaceutical company’s stock worth $957,317,000 after buying an additional 105,260 shares during the period. Jennison Associates LLC raised its position in shares of Vertex Pharmaceuticals by 253.8% in the 2nd quarter. Jennison Associates LLC now owns 5,055,122 shares of the pharmaceutical company’s stock worth $651,454,000 after buying an additional 3,626,368 shares during the period. Finally, TIAA CREF Investment Management LLC raised its position in shares of Vertex Pharmaceuticals by 28.1% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 2,077,303 shares of the pharmaceutical company’s stock worth $267,702,000 after buying an additional 456,290 shares during the period. 92.93% of the stock is currently owned by institutional investors and hedge funds.
Shares of Vertex Pharmaceuticals (VRTX) traded up 4.42% on Wednesday, hitting $150.11. The stock had a trading volume of 2,747,621 shares. The company has a market cap of $37.85 billion, a price-to-earnings ratio of 144.20 and a beta of 1.73. The stock has a 50 day moving average price of $152.78 and a 200-day moving average price of $138.86. Vertex Pharmaceuticals has a 12-month low of $71.46 and a 12-month high of $167.86.
Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Wednesday, October 25th. The pharmaceutical company reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.49. Vertex Pharmaceuticals had a return on equity of 9.23% and a net margin of 8.53%. The business had revenue of $578.20 million during the quarter, compared to the consensus estimate of $522.07 million. During the same period in the previous year, the business earned $0.16 EPS. The business’s quarterly revenue was up 39.7% on a year-over-year basis. On average, equities analysts expect that Vertex Pharmaceuticals will post $1.63 earnings per share for the current year.
Vertex Pharmaceuticals Company Profile
Vertex Pharmaceuticals Incorporated is engaged in discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company is focused on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs in other indications.
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