Vertex Pharmaceuticals Incorporated (VRTX) Earns Neutral Rating from Bank of America Corp
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)‘s stock had its “neutral” rating reiterated by Bank of America Corp in a research report issued on Friday. They presently have a $125.00 target price on the pharmaceutical company’s stock, up from their prior target price of $121.00. Bank of America Corp’s price objective would indicate a potential upside of 5.91% from the company’s current price.
Several other equities analysts have also recently issued reports on the stock. Cowen and Company set a $75.00 price target on shares of Vertex Pharmaceuticals and gave the company a “hold” rating in a research report on Saturday, February 11th. Stifel Nicolaus boosted their price target on shares of Vertex Pharmaceuticals from $100.00 to $129.00 and gave the company a “buy” rating in a research report on Wednesday, March 29th. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Sunday, April 30th. Morgan Stanley reiterated an “overweight” rating and set a $153.00 price target (up previously from $150.00) on shares of Vertex Pharmaceuticals in a research report on Friday. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $78.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, March 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $114.53.
Vertex Pharmaceuticals (NASDAQ:VRTX) opened at 118.02 on Friday. The stock’s 50 day moving average is $115.61 and its 200 day moving average is $92.81. The firm has a market capitalization of $29.40 billion, a P/E ratio of 164.60 and a beta of 0.79. Vertex Pharmaceuticals has a one year low of $71.46 and a one year high of $121.96.
Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Thursday, April 27th. The pharmaceutical company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.09. Vertex Pharmaceuticals had a negative net margin of 6.76% and a negative return on equity of 2.15%. The firm had revenue of $714.72 million for the quarter, compared to analysts’ expectations of $692.64 million. During the same quarter in the previous year, the company earned $0.09 earnings per share. The company’s revenue for the quarter was up 79.5% compared to the same quarter last year. On average, equities research analysts predict that Vertex Pharmaceuticals will post $1.64 earnings per share for the current fiscal year.
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In other news, EVP Amit Sachdev sold 80,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 29th. The shares were sold at an average price of $107.63, for a total value of $8,664,215.00. Following the transaction, the executive vice president now owns 105,054 shares in the company, valued at $11,306,962.02. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Paul M. Silva sold 1,688 shares of the company’s stock in a transaction that occurred on Wednesday, March 29th. The stock was sold at an average price of $106.30, for a total transaction of $179,434.40. Following the completion of the transaction, the senior vice president now owns 21,759 shares in the company, valued at approximately $2,312,981.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 272,429 shares of company stock worth $31,346,164. Insiders own 1.90% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. FUKOKU MUTUAL LIFE INSURANCE Co increased its position in shares of Vertex Pharmaceuticals by 7.7% in the fourth quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,400 shares of the pharmaceutical company’s stock worth $103,000 after buying an additional 100 shares during the period. Korea Investment CORP increased its position in shares of Vertex Pharmaceuticals by 225.3% in the first quarter. Korea Investment CORP now owns 950 shares of the pharmaceutical company’s stock worth $104,000 after buying an additional 658 shares during the period. Guardian Life Insurance Co. of America increased its position in shares of Vertex Pharmaceuticals by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 956 shares of the pharmaceutical company’s stock worth $105,000 after buying an additional 6 shares during the period. Sterling Global Strategies LLC bought a new position in shares of Vertex Pharmaceuticals during the first quarter worth $200,000. Finally, First Manhattan Co. increased its position in shares of Vertex Pharmaceuticals by 1.3% in the first quarter. First Manhattan Co. now owns 2,356 shares of the pharmaceutical company’s stock worth $205,000 after buying an additional 31 shares during the period. Institutional investors own 94.85% of the company’s stock.
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.
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