Vertex Pharmaceuticals (VRTX) Given “Buy” Rating at Jefferies Group

Vertex Pharmaceuticals (NASDAQ:VRTX)‘s stock had its “buy” rating reiterated by analysts at Jefferies Group in a report issued on Thursday, February 1st. They presently have a $195.00 price target on the pharmaceutical company’s stock. Jefferies Group’s price target points to a potential upside of 27.48% from the stock’s previous close.

Several other research firms also recently issued reports on VRTX. Barclays lifted their price objective on Vertex Pharmaceuticals from $180.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Bank of America restated a “buy” rating and set a $180.00 price objective on shares of Vertex Pharmaceuticals in a report on Tuesday, January 23rd. BidaskClub upgraded Vertex Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 24th. Maxim Group reiterated a “buy” rating and issued a $195.00 target price on shares of Vertex Pharmaceuticals in a research report on Wednesday, January 31st. Finally, Zacks Investment Research lowered Vertex Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Sunday, January 21st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $180.07.

Shares of Vertex Pharmaceuticals (NASDAQ VRTX) traded up $1.36 during trading hours on Thursday, hitting $152.96. The company had a trading volume of 2,553,834 shares, compared to its average volume of 2,020,000. The stock has a market cap of $38,680.00, a P/E ratio of 78.44, a P/E/G ratio of 2.23 and a beta of 1.61. The company has a current ratio of 4.79, a quick ratio of 4.58 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals has a 1-year low of $84.39 and a 1-year high of $174.96.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Wednesday, January 31st. The pharmaceutical company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.53 by $0.08. Vertex Pharmaceuticals had a return on equity of 11.02% and a net margin of 10.59%. The business had revenue of $651.63 million for the quarter, compared to the consensus estimate of $592.49 million. During the same period last year, the business posted $0.35 EPS. The company’s revenue was up 42.1% on a year-over-year basis. equities research analysts expect that Vertex Pharmaceuticals will post 1.63 EPS for the current year.

Vertex Pharmaceuticals declared that its Board of Directors has initiated a share buyback program on Wednesday, January 31st that allows the company to buyback $500.00 million in shares. This buyback authorization allows the pharmaceutical company to buy shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.

In other news, EVP Stuart A. Arbuckle sold 221 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $147.29, for a total value of $32,551.09. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CMO Jeffrey Chodakewitz sold 3,594 shares of the business’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $161.46, for a total value of $580,287.24. Following the completion of the sale, the chief marketing officer now directly owns 56,118 shares in the company, valued at approximately $9,060,812.28. The disclosure for this sale can be found here. Insiders have sold a total of 403,165 shares of company stock valued at $62,154,183 in the last quarter. 1.80% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Suntrust Banks Inc. raised its position in shares of Vertex Pharmaceuticals by 10.9% during the fourth quarter. Suntrust Banks Inc. now owns 29,862 shares of the pharmaceutical company’s stock worth $4,474,000 after purchasing an additional 2,925 shares during the period. Baird Financial Group Inc. raised its position in shares of Vertex Pharmaceuticals by 48.3% during the fourth quarter. Baird Financial Group Inc. now owns 4,086 shares of the pharmaceutical company’s stock worth $612,000 after purchasing an additional 1,331 shares during the period. Norinchukin Bank The raised its position in shares of Vertex Pharmaceuticals by 7.7% during the fourth quarter. Norinchukin Bank The now owns 20,219 shares of the pharmaceutical company’s stock worth $3,030,000 after purchasing an additional 1,454 shares during the period. FDx Advisors Inc. raised its position in shares of Vertex Pharmaceuticals by 15.3% during the fourth quarter. FDx Advisors Inc. now owns 6,007 shares of the pharmaceutical company’s stock worth $900,000 after purchasing an additional 798 shares during the period. Finally, American International Group Inc. raised its position in shares of Vertex Pharmaceuticals by 2.1% during the fourth quarter. American International Group Inc. now owns 110,567 shares of the pharmaceutical company’s stock worth $16,570,000 after purchasing an additional 2,325 shares during the period. 92.81% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Vertex Pharmaceuticals (NASDAQ:VRTX)

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