Vertex Pharmaceuticals Inc. (VRTX) Stock Rating Reaffirmed by RBC Capital Markets
Vertex Pharmaceuticals Inc. (NASDAQ:VRTX)‘s stock had its “buy” rating reiterated by research analysts at RBC Capital Markets in a research report issued to clients and investors on Wednesday.
A number of other equities analysts have also issued reports on VRTX. Piper Jaffray Cos. reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Saturday, June 18th. Leerink Swann set a $112.00 price objective on Vertex Pharmaceuticals and gave the company a “buy” rating in a research report on Saturday, September 17th. Cowen and Company reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Thursday, July 28th. Credit Suisse Group AG set a $110.00 price objective on Vertex Pharmaceuticals and gave the company a “buy” rating in a research report on Wednesday, September 28th. Finally, Vetr downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating and set a $94.50 price objective for the company. in a research report on Tuesday, June 14th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $117.60.
Vertex Pharmaceuticals (NASDAQ:VRTX) traded up 1.41% during midday trading on Wednesday, reaching $81.28. The company’s stock had a trading volume of 1,453,807 shares. Vertex Pharmaceuticals has a 12 month low of $75.90 and a 12 month high of $134.71. The firm’s market capitalization is $20.14 billion. The stock’s 50-day moving average price is $91.26 and its 200-day moving average price is $89.81.
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Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Wednesday, July 27th. The pharmaceutical company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. The firm earned $431.61 million during the quarter, compared to analyst estimates of $428.08 million. Vertex Pharmaceuticals had a negative return on equity of 12.34% and a negative net margin of 17.77%. The firm’s quarterly revenue was up 159.9% on a year-over-year basis. During the same period last year, the company posted ($0.54) EPS. Analysts predict that Vertex Pharmaceuticals will post $0.89 EPS for the current year.
In other news, Director Joshua S. Boger sold 7,100 shares of the firm’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $100.24, for a total value of $711,704.00. Following the sale, the director now directly owns 274,725 shares of the company’s stock, valued at $27,538,434. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Joshua S. Boger sold 6,500 shares of the firm’s stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $95.93, for a total value of $623,545.00. Following the completion of the sale, the director now directly owns 274,725 shares in the company, valued at $26,354,369.25. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in the company. Parametrica Management Ltd purchased a new stake in Vertex Pharmaceuticals during the third quarter worth $462,000. Gulf International Bank UK Ltd increased its stake in Vertex Pharmaceuticals by 2.2% in the third quarter. Gulf International Bank UK Ltd now owns 73,692 shares of the pharmaceutical company’s stock worth $6,426,000 after buying an additional 1,600 shares during the period. Capstone Asset Management Co. increased its stake in Vertex Pharmaceuticals by 1.9% in the third quarter. Capstone Asset Management Co. now owns 24,291 shares of the pharmaceutical company’s stock worth $2,118,000 after buying an additional 460 shares during the period. Fox Run Management L.L.C. purchased a new stake in Vertex Pharmaceuticals during the third quarter worth $488,000. Finally, Creative Planning increased its stake in Vertex Pharmaceuticals by 5.8% in the third quarter. Creative Planning now owns 5,554 shares of the pharmaceutical company’s stock worth $484,000 after buying an additional 305 shares during the period. 96.19% of the stock is currently owned by institutional investors and hedge funds.
Vertex Pharmaceuticals Company Profile
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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