Royal Bank Of Canada reaffirmed their buy rating on shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in a report published on Friday.
Several other research analysts have also commented on VRTX. Zacks Investment Research raised Vertex Pharmaceuticals from a hold rating to a buy rating and set a $144.00 price target on the stock in a research report on Tuesday, July 4th. Cowen and Company reaffirmed a market perform rating and set a $105.00 price target on shares of Vertex Pharmaceuticals in a research report on Thursday, July 6th. Jefferies Group LLC started coverage on Vertex Pharmaceuticals in a report on Monday, July 10th. They issued a buy rating and a $155.00 target price on the stock. 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. Finally, Vetr raised Vertex Pharmaceuticals from a strong sell rating to a strong-buy rating and set a $156.00 target price on the stock in a report on Tuesday, July 18th. 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 to the company. The stock has a consensus rating of Buy and an average target price of $169.74.
Shares of Vertex Pharmaceuticals (NASDAQ VRTX) opened at 150.11 on Friday. Vertex Pharmaceuticals has a 52-week low of $71.46 and a 52-week high of $167.85. The firm has a 50-day moving average price of $152.78 and a 200 day moving average price of $138.86. The stock has a market cap of $37.85 billion, a price-to-earnings ratio of 144.20 and a beta of 1.73.
Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Wednesday, October 25th. The pharmaceutical company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.04 by $0.49. The company had revenue of $578.20 million for the quarter, compared to analyst estimates of $522.07 million. Vertex Pharmaceuticals had a return on equity of 9.23% and a net margin of 8.53%. The firm’s revenue was up 39.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 earnings per share. Analysts expect that Vertex Pharmaceuticals will post $1.73 earnings per share for the current year.
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In other news, EVP David Altshuler sold 1,796 shares of the company’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $160.00, for a total value of $287,360.00. Following the sale, the executive vice president now directly owns 107,807 shares in the company, valued at $17,249,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Paul M. Silva sold 1,289 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $151.80, for a total value of $195,670.20. Following the completion of the sale, the senior vice president now owns 17,923 shares in the company, valued at $2,720,711.40. The disclosure for this sale can be found here. Insiders sold 29,700 shares of company stock worth $4,586,808 over the last 90 days. Company insiders own 1.80% of the company’s stock.
Several large investors have recently modified their holdings of VRTX. Teachers Advisors LLC lifted its position in shares of Vertex Pharmaceuticals by 48.6% in the first quarter. Teachers Advisors LLC now owns 510,373 shares of the pharmaceutical company’s stock valued at $55,809,000 after acquiring an additional 166,998 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Vertex Pharmaceuticals by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 272,933 shares of the pharmaceutical company’s stock valued at $29,842,000 after acquiring an additional 5,496 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Vertex Pharmaceuticals in the first quarter valued at $4,387,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Vertex Pharmaceuticals in the first quarter valued at $834,000. Finally, BlueCrest Capital Management Ltd purchased a new stake in shares of Vertex Pharmaceuticals in the first quarter valued at $353,000. Institutional investors and hedge funds own 92.93% of the company’s stock.
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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