Vertex Pharmaceuticals Inc. (VRTX) Rating Reiterated by Jefferies Group
Vertex Pharmaceuticals Inc. (NASDAQ:VRTX)‘s stock had its “buy” rating restated by investment analysts at Jefferies Group in a report released on Wednesday. They currently have a $104.00 target price on the pharmaceutical company’s stock. Jefferies Group’s price objective would indicate a potential upside of 27.36% from the company’s current price.
Several other research analysts have also recently commented on the stock. Zacks Investment Research cut shares of Vertex Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 27th. Citigroup Inc. started coverage on shares of Vertex Pharmaceuticals in a research report on Tuesday, September 13th. They issued a “market perform” rating for the company. They noted that the move was a valuation call. Credit Suisse Group AG restated a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Thursday, June 16th. Leerink Swann reiterated an “outperform” rating and issued a $113.00 price objective on shares of Vertex Pharmaceuticals in a report on Thursday, September 15th. Finally, Vetr upgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “strong-buy” rating and set a $94.50 price objective for the company in a report on Monday, June 27th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $117.60.
Vertex Pharmaceuticals (NASDAQ:VRTX) traded down 0.84% during midday trading on Wednesday, hitting $80.97. 1,100,523 shares of the stock were exchanged. The firm’s 50-day moving average is $91.85 and its 200 day moving average is $89.88. Vertex Pharmaceuticals has a 52 week low of $75.90 and a 52 week high of $134.71. The stock’s market cap is $20.06 billion.
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Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Wednesday, July 27th. The pharmaceutical company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.21 by $0.03. Vertex Pharmaceuticals had a negative net margin of 17.77% and a negative return on equity of 12.34%. The firm earned $431.61 million during the quarter, compared to analysts’ expectations of $428.08 million. During the same quarter in the prior year, the firm earned ($0.54) EPS. Vertex Pharmaceuticals’s quarterly revenue was up 159.9% on a year-over-year basis. Equities research analysts expect that Vertex Pharmaceuticals will post $0.89 EPS for the current fiscal year.
In other news, EVP Stuart A. Arbuckle sold 1,208 shares of the firm’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $86.46, for a total transaction of $104,443.68. Following the completion of the transaction, the executive vice president now directly owns 114,566 shares of the company’s stock, valued at approximately $9,905,376.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joshua S. Boger sold 6,500 shares of the firm’s stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $90.33, for a total transaction of $587,145.00. Following the transaction, the director now directly owns 274,725 shares of the company’s stock, valued at $24,815,909.25. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Samlyn Capital LLC increased its position in Vertex Pharmaceuticals by 19.7% in the first quarter. Samlyn Capital LLC now owns 381,000 shares of the pharmaceutical company’s stock worth $30,286,000 after buying an additional 62,587 shares during the last quarter. Strs Ohio increased its position in Vertex Pharmaceuticals by 9.9% in the second quarter. Strs Ohio now owns 346,339 shares of the pharmaceutical company’s stock worth $29,792,000 after buying an additional 31,241 shares during the last quarter. Bank of Montreal Can acquired a new position in Vertex Pharmaceuticals during the second quarter worth approximately $14,876,000. Nisa Investment Advisors LLC increased its position in Vertex Pharmaceuticals by 21.9% in the second quarter. Nisa Investment Advisors LLC now owns 63,375 shares of the pharmaceutical company’s stock worth $5,452,000 after buying an additional 11,375 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new position in Vertex Pharmaceuticals during the first quarter worth approximately $1,153,000. 96.19% of the stock is owned by institutional investors.
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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