Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)‘s stock had its “overweight” rating reiterated by investment analysts at Morgan Stanley in a research note issued to investors on Friday. They currently have a $153.00 price target on the pharmaceutical company’s stock, up from their prior price target of $150.00. Morgan Stanley’s price objective indicates a potential upside of 29.64% from the stock’s current price.

VRTX has been the topic of several other reports. Vetr raised Vertex Pharmaceuticals from a “sell” rating to a “buy” rating and set a $102.50 price target on the stock in a research report on Tuesday, March 14th. Stifel Nicolaus reduced their price target on Vertex Pharmaceuticals from $108.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, January 26th. Maxim Group reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, February 3rd. Zacks Investment Research lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, April 10th. Finally, Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Monday, February 27th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $114.53.

Analyst Recommendations for Vertex Pharmaceuticals (NASDAQ:VRTX)

Shares of Vertex Pharmaceuticals (NASDAQ:VRTX) opened at 118.02 on Friday. The stock has a market capitalization of $29.40 billion, a price-to-earnings ratio of 164.60 and a beta of 0.79. The company’s 50 day moving average is $115.61 and its 200-day moving average is $92.81. Vertex Pharmaceuticals has a 1-year low of $71.46 and a 1-year high of $121.96.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Thursday, April 27th. The pharmaceutical company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.04 by $0.09. The firm had revenue of $714.72 million for the quarter, compared to analyst estimates of $692.64 million. Vertex Pharmaceuticals had a negative return on equity of 2.15% and a negative net margin of 6.76%. Vertex Pharmaceuticals’s revenue for the quarter was up 79.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 EPS. Equities analysts anticipate that Vertex Pharmaceuticals will post $1.64 earnings per share for the current fiscal year.

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In related news, CEO Jeffrey M. Leiden sold 157,200 shares of the company’s stock in a transaction on Friday, April 28th. The stock was sold at an average price of $119.50, for a total transaction of $18,785,400.00. Following the completion of the transaction, the chief executive officer now directly owns 395,152 shares in the company, valued at approximately $47,220,664. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Amit Sachdev sold 80,500 shares of the company’s stock in a transaction on Wednesday, March 29th. The stock was 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 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 quarter. Company insiders own 1.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Virtus Investment Advisers Inc. bought a new position in shares of Vertex Pharmaceuticals during the third quarter worth approximately $460,000. UBS Group AG increased its position in shares of Vertex Pharmaceuticals by 24.3% in the third quarter. UBS Group AG now owns 231,356 shares of the pharmaceutical company’s stock worth $20,176,000 after buying an additional 45,262 shares during the last quarter. Advantus Capital Management Inc increased its position in shares of Vertex Pharmaceuticals by 1.5% in the third quarter. Advantus Capital Management Inc now owns 24,533 shares of the pharmaceutical company’s stock worth $2,140,000 after buying an additional 357 shares during the last quarter. Two Sigma Securities LLC bought a new position in shares of Vertex Pharmaceuticals during the third quarter worth approximately $801,000. Finally, HighTower Advisors LLC increased its position 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 last quarter. Hedge funds and other institutional investors own 94.85% of the company’s stock.

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.

12 Month Chart for NASDAQ:VRTX

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