Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)‘s stock had its “buy” rating restated by research analysts at Robert W. Baird in a research note issued on Friday, October 27th.
Other analysts have also recently issued reports about the company. Raymond James Financial, Inc. upgraded Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $181.00 price objective on the stock in a research note on Wednesday, July 19th. J P Morgan Chase & Co set a $175.00 target price on Vertex Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, July 19th. Oppenheimer Holdings, Inc. increased their target price on Vertex Pharmaceuticals from $150.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. BMO Capital Markets reissued a “buy” rating on shares of Vertex Pharmaceuticals in a report on Wednesday, September 27th. Finally, Zacks Investment Research raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $144.00 price objective on the stock in a report on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $173.15.
Vertex Pharmaceuticals (NASDAQ VRTX) traded up $0.57 during trading hours on Friday, reaching $148.74. The company’s stock had a trading volume of 861,000 shares, compared to its average volume of 1,829,104. The company has a current ratio of 3.28, a quick ratio of 3.14 and a debt-to-equity ratio of 0.01. The stock has a market cap of $37,472.61, a price-to-earnings ratio of 246.95, a P/E/G ratio of 3.76 and a beta of 1.63. Vertex Pharmaceuticals has a 52 week low of $71.46 and a 52 week high of $167.85.
Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Wednesday, October 25th. The pharmaceutical company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.49. Vertex Pharmaceuticals had a return on equity of 9.23% and a net margin of 8.53%. The firm had revenue of $578.20 million for the quarter, compared to analysts’ expectations of $522.07 million. During the same period in the prior year, the firm posted $0.16 earnings per share. The firm’s quarterly revenue was up 39.7% on a year-over-year basis. analysts anticipate that Vertex Pharmaceuticals will post 0.72 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 dated Thursday, August 31st. The shares were sold at an average price of $160.00, for a total value of $287,360.00. Following the sale, the executive vice president now owns 107,807 shares in the company, valued at approximately $17,249,120. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Stuart A. Arbuckle sold 6,290 shares of the business’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $143.97, for a total transaction of $905,571.30. Following the sale, the executive vice president now directly owns 116,952 shares of the company’s stock, valued at approximately $16,837,579.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 220,094 shares of company stock worth $32,074,719. Company insiders own 1.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of VRTX. Jennison Associates LLC grew its position in 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 purchasing an additional 3,626,368 shares during the last quarter. Old Mutual Global Investors UK Ltd. grew its position in Vertex Pharmaceuticals by 1,384.7% in the 2nd quarter. Old Mutual Global Investors UK Ltd. now owns 1,195,455 shares of the pharmaceutical company’s stock worth $154,058,000 after purchasing an additional 1,114,939 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Vertex Pharmaceuticals by 9,422.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 893,380 shares of the pharmaceutical company’s stock worth $135,829,000 after purchasing an additional 883,998 shares during the last quarter. AJO LP bought a new position in Vertex Pharmaceuticals in the 2nd quarter worth about $71,956,000. Finally, Vanguard Group Inc. lifted its stake 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 acquiring an additional 504,982 shares during the period. Hedge funds and other institutional investors own 93.06% 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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