Jefferies Group Reiterates “Buy” Rating for Vertex Pharmaceuticals Inc. (VRTX)
Vertex Pharmaceuticals Inc. (NASDAQ:VRTX)‘s stock had its “buy” rating restated by investment analysts at Jefferies Group in a note issued to investors on Wednesday. They presently have a $104.00 target price on the pharmaceutical company’s stock. Jefferies Group’s price target would suggest a potential upside of 27.36% from the company’s current price.
Other analysts have also recently issued research reports about the company. Piper Jaffray Cos. reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Saturday, June 18th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Thursday, June 16th. Zacks Investment Research raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $98.00 target price on the stock in a research report on Wednesday, July 20th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Sunday, July 31st. Finally, Stifel Nicolaus dropped their target price on Vertex Pharmaceuticals from $108.00 to $105.00 and set a “buy” rating on the stock in a research report on Tuesday, August 16th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $117.60.
Shares of Vertex Pharmaceuticals (NASDAQ:VRTX) traded down 0.84% during trading on Wednesday, hitting $80.97. The company had a trading volume of 1,089,206 shares. The stock’s market capitalization is $20.06 billion. Vertex Pharmaceuticals has a 52 week low of $75.90 and a 52 week high of $134.71. The firm’s 50 day moving average is $91.85 and its 200-day moving average is $89.88.
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Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Wednesday, July 27th. The pharmaceutical company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.03. The business had revenue of $431.61 million for the quarter, compared to analysts’ expectations of $428.08 million. Vertex Pharmaceuticals had a negative return on equity of 12.34% and a negative net margin of 17.77%. The business’s revenue for the quarter was up 159.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.54) EPS. Equities research analysts anticipate that Vertex Pharmaceuticals will post $0.89 EPS for the current fiscal year.
In related news, Director Joshua S. Boger sold 6,500 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $87.44, for a total value of $568,360.00. Following the sale, the director now directly owns 274,725 shares in the company, valued at approximately $24,021,954. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Stuart A. Arbuckle sold 1,208 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $86.46, for a total value of $104,443.68. Following the completion of the sale, the executive vice president now owns 114,566 shares in the company, valued at $9,905,376.36. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. FMR LLC boosted its stake in Vertex Pharmaceuticals by 46.9% in the second quarter. FMR LLC now owns 22,227,104 shares of the pharmaceutical company’s stock valued at $1,911,975,000 after buying an additional 7,092,351 shares during the last quarter. Jennison Associates LLC boosted its stake in Vertex Pharmaceuticals by 182.2% in the second quarter. Jennison Associates LLC now owns 2,974,800 shares of the pharmaceutical company’s stock valued at $255,892,000 after buying an additional 1,920,658 shares during the last quarter. TimesSquare Capital Management LLC purchased a new stake in Vertex Pharmaceuticals during the second quarter valued at about $61,066,000. Eaton Vance Management boosted its stake in Vertex Pharmaceuticals by 142.8% in the second quarter. Eaton Vance Management now owns 994,957 shares of the pharmaceutical company’s stock valued at $85,586,000 after buying an additional 585,172 shares during the last quarter. Finally, Pictet Asset Management Ltd. boosted its stake in Vertex Pharmaceuticals by 181.5% in the second quarter. Pictet Asset Management Ltd. now owns 814,519 shares of the pharmaceutical company’s stock valued at $75,872,000 after buying an additional 525,199 shares during the last quarter. Institutional investors own 96.19% of the company’s stock.
About Vertex Pharmaceuticals
Vertex Pharmaceuticals Incorporated is engaged in the business of discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company operates in pharmaceuticals segment. Its business 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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