Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) have received a consensus recommendation of “Buy” from the twenty-nine brokerages that are presently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation, twenty-two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $166.19.
Several research analysts have recently weighed in on VRTX shares. J P Morgan Chase & Co set a $184.00 price objective on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, July 27th. Oppenheimer Holdings, Inc. increased their price objective on shares of Vertex Pharmaceuticals from $150.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. Maxim Group set a $195.00 price objective on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, July 27th. Morgan Stanley reiterated an “overweight” rating and set a $190.00 price objective (up from $153.00) on shares of Vertex Pharmaceuticals in a report on Saturday, July 22nd. Finally, Vetr lowered shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $181.00 price objective on the stock. in a report on Monday, July 24th.
In other Vertex Pharmaceuticals news, SVP Paul M. Silva sold 43,443 shares of the firm’s stock in a transaction on Friday, July 21st. The stock was sold at an average price of $161.07, for a total value of $6,997,364.01. Following the sale, the senior vice president now directly owns 26,516 shares in the company, valued at $4,270,932.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Paul M. Silva sold 2,577 shares of the firm’s stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $133.36, for a total value of $343,668.72. Following the completion of the sale, the senior vice president now owns 22,648 shares in the company, valued at $3,020,337.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 745,503 shares of company stock valued at $112,220,787. 1.80% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Korea Investment CORP boosted its stake in Vertex Pharmaceuticals by 225.3% in the first quarter. Korea Investment CORP now owns 950 shares of the pharmaceutical company’s stock worth $104,000 after buying an additional 658 shares during the last quarter. Guardian Life Insurance Co. of America boosted its stake 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 worth $105,000 after buying an additional 6 shares during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co boosted its stake in Vertex Pharmaceuticals by 7.1% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,500 shares of the pharmaceutical company’s stock worth $164,000 after buying an additional 100 shares during the last quarter. Dupont Capital Management Corp bought a new stake in Vertex Pharmaceuticals during the second quarter worth about $186,000. Finally, State of Alaska Department of Revenue bought a new stake in Vertex Pharmaceuticals during the second quarter worth about $197,000. Institutional investors own 93.13% of the company’s stock.
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Shares of Vertex Pharmaceuticals (NASDAQ VRTX) opened at 156.47 on Monday. The stock has a market capitalization of $39.45 billion, a P/E ratio of 150.31 and a beta of 1.77. The stock has a 50 day moving average of $137.73 and a 200-day moving average of $111.96. Vertex Pharmaceuticals has a 1-year low of $71.46 and a 1-year high of $167.85.
Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.33. Vertex Pharmaceuticals had a net margin of 12.05% and a return on equity of 4.64%. The company had revenue of $544.10 million for the quarter, compared to analysts’ expectations of $489.95 million. During the same period last year, the company earned $0.24 EPS. The firm’s revenue for the quarter was up 26.1% compared to the same quarter last year. Equities research analysts predict that Vertex Pharmaceuticals will post $1.59 earnings per share for the current fiscal 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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