Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a note issued to investors on Friday, October 27th. They currently have a $195.00 target price on the pharmaceutical company’s stock. Needham & Company LLC’s price objective indicates a potential upside of 31.10% from the company’s previous close.
Other equities research analysts have also issued reports about the company. Stifel Nicolaus raised their price target on Vertex Pharmaceuticals from $130.00 to $154.00 and gave the stock a “buy” rating in a research note on Tuesday, July 18th. Zacks Investment Research raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $144.00 target price for the company in a research report on Tuesday, July 4th. J P Morgan Chase & Co set a $184.00 price target on Vertex Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, July 27th. Raymond James Financial, Inc. raised Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $181.00 price target for the company in a research report on Wednesday, July 19th. Finally, Vetr cut Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $181.00 price target for the company. in a report on Monday, September 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $173.15.
Shares of Vertex Pharmaceuticals (VRTX) opened at $148.74 on Friday. Vertex Pharmaceuticals has a 12 month low of $71.46 and a 12 month high of $167.85. The company has a quick ratio of 3.14, a current ratio of 3.28 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $37,616.77, a price-to-earnings ratio of 247.90, a PEG ratio of 3.78 and a beta of 1.63.
Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Wednesday, October 25th. The pharmaceutical company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.49. The business had revenue of $578.20 million during the quarter, compared to analysts’ expectations of $522.07 million. Vertex Pharmaceuticals had a return on equity of 9.23% and a net margin of 8.53%. The business’s quarterly revenue was up 39.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.16 earnings per share. equities research analysts anticipate that Vertex Pharmaceuticals will post 0.72 EPS for the current year.
In other news, Director Sangeeta N. Bhatia sold 7,073 shares of the stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $143.05, for a total value of $1,011,792.65. Following the completion of the transaction, the director now owns 11,026 shares of the company’s stock, valued at $1,577,269.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David Altshuler sold 1,796 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $160.00, for a total value of $287,360.00. Following the completion of the transaction, the executive vice president now directly owns 107,807 shares of the company’s stock, valued at approximately $17,249,120. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 220,094 shares of company stock worth $32,074,719. 1.80% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in 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 acquiring an additional 159,601 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Vertex Pharmaceuticals by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 16,979,872 shares of the pharmaceutical company’s stock valued at $2,188,196,000 after acquiring an additional 504,982 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Vertex Pharmaceuticals by 19.0% during the 3rd quarter. Jennison Associates LLC now owns 6,017,766 shares of the pharmaceutical company’s stock valued at $914,941,000 after acquiring an additional 962,644 shares during the last quarter. TIAA CREF Investment Management LLC boosted its position in shares of Vertex Pharmaceuticals by 28.1% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 2,077,303 shares of the pharmaceutical company’s stock valued at $267,702,000 after acquiring an additional 456,290 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Vertex Pharmaceuticals by 0.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,994,410 shares of the pharmaceutical company’s stock valued at $303,230,000 after acquiring an additional 12,454 shares during the last quarter. Institutional investors own 92.79% of the company’s stock.
About Vertex Pharmaceuticals
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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