Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

A number of other equities analysts have also recently weighed in on VRTX. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Sunday, April 30th. Maxim Group upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $143.00 price objective for the company in a research report on Friday, March 31st. CIBC upgraded shares of Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research report on Friday, June 2nd. Jefferies Group LLC restated a “buy” rating and set a $126.00 price objective on shares of Vertex Pharmaceuticals in a research report on Friday, June 9th. Finally, BMO Capital Markets restated a “market perform” rating and set a $78.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, March 7th. Eight research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $118.75.

Vertex Pharmaceuticals (NASDAQ:VRTX) traded up 1.49% on Wednesday, reaching $131.15. 928,007 shares of the company’s stock traded hands. The stock has a 50 day moving average price of $120.67 and a 200 day moving average price of $98.72. Vertex Pharmaceuticals has a 12-month low of $71.46 and a 12-month high of $131.62. The stock has a market cap of $32.67 billion, a price-to-earnings ratio of 182.91 and a beta of 1.65.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Thursday, April 27th. The pharmaceutical company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.09. Vertex Pharmaceuticals had a net margin of 8.64% and a return on equity of 3.00%. The firm had revenue of $714.72 million during the quarter, compared to analysts’ expectations of $692.64 million. During the same period in the previous year, the business posted $0.09 EPS. The business’s revenue was up 79.5% compared to the same quarter last year. Analysts forecast that Vertex Pharmaceuticals will post $1.66 EPS for the current year.

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In related news, CMO Jeffrey Chodakewitz sold 2,291 shares of the firm’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $108.85, for a total value of $249,375.35. Following the sale, the chief marketing officer now owns 124,802 shares of the company’s stock, valued at $13,584,697.70. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey M. Leiden sold 147,101 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $129.50, for a total transaction of $19,049,579.50. Following the completion of the sale, the chief executive officer now directly owns 312,142 shares in the company, valued at approximately $40,422,389. The disclosure for this sale can be found here. In the last ninety days, insiders sold 410,971 shares of company stock worth $51,328,872. 1.90% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Vertex Pharmaceuticals by 2,699.4% in the first quarter. BlackRock Inc. now owns 19,246,380 shares of the pharmaceutical company’s stock worth $2,104,591,000 after buying an additional 18,558,874 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Vertex Pharmaceuticals by 3.5% in the first quarter. Vanguard Group Inc. now owns 16,474,890 shares of the pharmaceutical company’s stock worth $1,801,530,000 after buying an additional 560,796 shares during the period. State Street Corp raised its position in shares of Vertex Pharmaceuticals by 2.0% in the first quarter. State Street Corp now owns 12,013,178 shares of the pharmaceutical company’s stock worth $1,313,647,000 after buying an additional 239,017 shares during the period. Clearbridge Investments LLC raised its position in shares of Vertex Pharmaceuticals by 1.2% in the first quarter. Clearbridge Investments LLC now owns 8,754,618 shares of the pharmaceutical company’s stock worth $957,317,000 after buying an additional 105,260 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Vertex Pharmaceuticals by 8.9% in the first quarter. Geode Capital Management LLC now owns 2,339,821 shares of the pharmaceutical company’s stock worth $255,483,000 after buying an additional 191,154 shares during the period. 94.18% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Vertex Pharmaceuticals (NASDAQ:VRTX)

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