Maxim Group Increases Vertex Pharmaceuticals Price Target to $107.00 (VRTX)
Research analysts at Maxim Group raised their target price on shares of Vertex Pharmaceuticals (NASDAQ:VRTX) from $92.00 to $107.00 in a report released on Tuesday. The firm currently has a “buy” rating on the stock. Maxim Group’s target price suggests a potential upside of 60.64% from the company’s current price.
Shares of Vertex Pharmaceuticals (NASDAQ:VRTX) opened at 96.526 on Tuesday. Vertex Pharmaceuticals has a one year low of $58.06 and a one year high of $89.96. The stock’s 50-day moving average is $69.21 and its 200-day moving average is $73.19. The company’s market cap is $22.799 billion. Vertex Pharmaceuticals also was the target of unusually large options trading on Monday. Stock investors bought 13,082 call options on the stock. This represents an increase of approximately 235% compared to the average daily volume of 3,903 call options.
Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Thursday, May 1st. The company reported ($0.65) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.68) by $0.03. The company had revenue of $118.50 million for the quarter, compared to the consensus estimate of $134.46 million. During the same quarter last year, the company posted $0.03 earnings per share. Vertex Pharmaceuticals’s revenue was down 63.9% compared to the same quarter last year. Analysts expect that Vertex Pharmaceuticals will post $-2.82 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at HC Wainwright reiterated a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Thursday, June 5th. Separately, analysts at Zacks downgraded shares of Vertex Pharmaceuticals from an “outperform” rating to a “neutral” rating in a research note on Wednesday, May 21st. They now have a $72.30 price target on the stock. Finally, analysts at TheStreet downgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. Vertex Pharmaceuticals currently has an average rating of “Hold” and an average target price of $89.81.
In other Vertex Pharmaceuticals news, EVP Peter Mueller sold 7,500 shares of the stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $68.31, for a total transaction of $512,325.00. The sale was disclosed in a filing with the SEC, which is available at this link.
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) is in the business of discovering, developing, manufacturing and commercializing small molecule drugs for the treatment of serious diseases.
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