Vertex Pharmaceuticals Incorporated (VRTX) Earns Outperform Rating from JMP Securities
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)‘s stock had its “outperform” rating restated by equities researchers at JMP Securities in a report released on Friday. They presently have a $127.00 price target on the pharmaceutical company’s stock, up from their prior price target of $125.00. JMP Securities’ price objective points to a potential upside of 7.61% from the company’s previous close.
Several other equities analysts also recently commented on the company. Vetr upgraded Vertex Pharmaceuticals from a “sell” rating to a “buy” rating and set a $102.50 target price for the company in a research report on Tuesday, March 14th. Stifel Nicolaus cut their target price on Vertex Pharmaceuticals from $108.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, January 26th. Maxim Group restated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, February 3rd. Zacks Investment Research downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, April 10th. Finally, Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, January 20th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $114.53.
Shares of Vertex Pharmaceuticals (NASDAQ:VRTX) opened at 118.02 on Friday. Vertex Pharmaceuticals has a 52-week low of $71.46 and a 52-week high of $121.96. The company’s 50 day moving average price is $115.61 and its 200 day moving average price is $92.81. The firm has a market capitalization of $29.40 billion, a price-to-earnings ratio of 164.60 and a beta of 0.79.
Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Thursday, April 27th. The pharmaceutical company reported $0.13 EPS for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.09. Vertex Pharmaceuticals had a negative return on equity of 2.15% and a negative net margin of 6.76%. The company had revenue of $714.72 million during the quarter, compared to the consensus estimate of $692.64 million. During the same quarter last year, the company earned $0.09 EPS. The company’s quarterly revenue was up 79.5% on a year-over-year basis. Analysts forecast that Vertex Pharmaceuticals will post $1.64 earnings per share for the current year.
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In other news, CMO Jeffrey Chodakewitz sold 8,979 shares of Vertex Pharmaceuticals stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $121.05, for a total value of $1,086,907.95. Following the completion of the sale, the chief marketing officer now directly owns 131,490 shares of the company’s stock, valued at approximately $15,916,864.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Amit Sachdev sold 80,500 shares of Vertex Pharmaceuticals stock in a transaction 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 completion of the sale, the executive vice president now directly owns 105,054 shares of the company’s stock, valued at $11,306,962.02. The disclosure for this sale can be found here. Insiders sold a total of 272,429 shares of company stock valued at $31,346,164 over the last three months. Insiders own 1.90% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Princeton Capital Management Inc. boosted its stake in shares of Vertex Pharmaceuticals by 0.9% in the third quarter. Princeton Capital Management Inc. now owns 25,549 shares of the pharmaceutical company’s stock worth $2,228,000 after buying an additional 227 shares during the period. Canal Insurance CO boosted its stake in shares of Vertex Pharmaceuticals by 100.0% in the fourth quarter. Canal Insurance CO now owns 40,000 shares of the pharmaceutical company’s stock worth $2,947,000 after buying an additional 20,000 shares during the period. HighTower Advisors LLC boosted its stake in shares of Vertex Pharmaceuticals by 195.6% in the third quarter. HighTower Advisors LLC now owns 8,554 shares of the pharmaceutical company’s stock worth $748,000 after buying an additional 5,660 shares during the period. Jennison Associates LLC boosted its stake in shares of Vertex Pharmaceuticals by 74.2% in the third quarter. Jennison Associates LLC now owns 5,180,761 shares of the pharmaceutical company’s stock worth $451,814,000 after buying an additional 2,205,961 shares during the period. Finally, Federated Investors Inc. PA boosted its stake in shares of Vertex Pharmaceuticals by 3.6% in the fourth quarter. Federated Investors Inc. PA now owns 108,352 shares of the pharmaceutical company’s stock worth $7,982,000 after buying an additional 3,800 shares during the period. 94.85% of the stock is owned by institutional investors.
Vertex Pharmaceuticals Company Profile
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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