JMP Securities restated their outperform rating on shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in a research report sent to investors on Wednesday, The Fly reports.
Several other research analysts have also issued reports on the company. Vetr lowered Vertex Pharmaceuticals from a sell rating to a strong sell rating and set a $102.58 target price for the company. in a research report on Thursday, April 20th. Stifel Nicolaus raised their target price on Vertex Pharmaceuticals from $130.00 to $154.00 and gave the stock a buy rating in a research report on Tuesday. Zacks Investment Research lowered Vertex Pharmaceuticals from a buy rating to a hold rating in a research report on Monday, April 10th. Jefferies Group LLC reaffirmed a buy rating and set a $126.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 2nd. Finally, Needham & Company LLC raised Vertex Pharmaceuticals from a hold rating to a buy rating and set a $155.00 target price for the company in a research report on Friday, June 23rd. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Vertex Pharmaceuticals currently has an average rating of Buy and a consensus price target of $157.16.
Vertex Pharmaceuticals (NASDAQ:VRTX) traded up 2.41% during midday trading on Wednesday, hitting $163.17. The stock had a trading volume of 3,176,393 shares. The company has a market capitalization of $40.64 billion, a PE ratio of 227.57 and a beta of 1.74. The company’s 50-day moving average price is $130.33 and its 200 day moving average price is $107.19. Vertex Pharmaceuticals has a 52 week low of $71.46 and a 52 week high of $167.00.
Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Thursday, April 27th. The pharmaceutical company reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.09. The business had revenue of $714.72 million during the quarter, compared to analyst estimates of $692.64 million. Vertex Pharmaceuticals had a return on equity of 3.00% and a net margin of 8.64%. Vertex Pharmaceuticals’s revenue for the quarter was up 79.5% compared to the same quarter last year. During the same period last year, the company earned $0.09 EPS. On average, analysts expect that Vertex Pharmaceuticals will post $1.68 EPS for the current year.
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In other Vertex Pharmaceuticals news, CEO Jeffrey M. Leiden sold 157,200 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $119.50, for a total transaction of $18,785,400.00. Following the transaction, the chief executive officer now owns 395,152 shares of the company’s stock, valued at approximately $47,220,664. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Paul M. Silva sold 43,443 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $161.07, for a total transaction of $6,997,364.01. Following the transaction, the senior vice president now directly owns 26,516 shares in the company, valued at approximately $4,270,932.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 884,674 shares of company stock worth $127,947,355. Insiders own 1.80% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Guardian Life Insurance Co. of America boosted its position in Vertex Pharmaceuticals by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 956 shares of the pharmaceutical company’s stock valued at $105,000 after buying an additional 6 shares in the last quarter. Elk Creek Partners LLC boosted its stake in Vertex Pharmaceuticals by 0.3% in the first quarter. Elk Creek Partners LLC now owns 3,120 shares of the pharmaceutical company’s stock worth $341,000 after buying an additional 10 shares during the period. Sowell Financial Services LLC boosted its stake in Vertex Pharmaceuticals by 0.8% in the first quarter. Sowell Financial Services LLC now owns 2,762 shares of the pharmaceutical company’s stock worth $325,000 after buying an additional 23 shares during the period. Capital Investment Advisory Services LLC boosted its stake in Vertex Pharmaceuticals by 0.4% in the first quarter. Capital Investment Advisory Services LLC now owns 6,463 shares of the pharmaceutical company’s stock worth $707,000 after buying an additional 25 shares during the period. Finally, First Manhattan Co. boosted its stake in Vertex Pharmaceuticals by 1.3% in the first quarter. First Manhattan Co. now owns 2,356 shares of the pharmaceutical company’s stock worth $205,000 after buying an additional 31 shares during the period. 94.08% of the stock is currently owned by hedge funds and other institutional investors.
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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