Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Given Consensus Rating of “Buy” by Analysts
Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) have been assigned an average recommendation of “Buy” from the twenty-nine ratings firms that are currently covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation, twenty-two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $166.19.
Several analysts have weighed in on VRTX shares. Cowen and Company reiterated a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, August 1st. Jefferies Group LLC started coverage on Vertex Pharmaceuticals in a research report on Monday, July 10th. They issued a “buy” rating and a $155.00 price objective for the company. Credit Suisse Group boosted their price objective on Vertex Pharmaceuticals from $125.00 to $195.00 and gave the company an “outperform” rating in a research report on Wednesday, July 19th. Barclays PLC reiterated an “equal weight” rating and issued a $100.00 price objective (up previously from $90.00) on shares of Vertex Pharmaceuticals in a research report on Sunday, April 23rd. Finally, Vetr downgraded Vertex Pharmaceuticals from a “sell” rating to a “strong sell” rating and set a $102.62 price objective for the company. in a research report on Tuesday, May 16th.
In related news, CEO Jeffrey M. Leiden sold 147,101 shares of the stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $129.50, for a total transaction of $19,049,579.50. Following the sale, the chief executive officer now directly owns 312,142 shares of the company’s stock, valued at $40,422,389. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey M. Leiden sold 216,624 shares of the stock in a transaction on Friday, July 21st. The shares were sold at an average price of $160.96, for a total value of $34,867,799.04. Following the sale, the chief executive officer now directly owns 400,266 shares in the company, valued at $64,426,815.36. The disclosure for this sale can be found here. Insiders have sold 751,042 shares of company stock worth $113,078,257 over the last ninety days. 1.80% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in the stock. Retirement Systems of Alabama boosted its stake in Vertex Pharmaceuticals by 6.5% in the first quarter. Retirement Systems of Alabama now owns 174,936 shares of the pharmaceutical company’s stock valued at $19,129,000 after buying an additional 10,746 shares during the period. Columbus Circle Investors boosted its stake in Vertex Pharmaceuticals by 127.0% in the first quarter. Columbus Circle Investors now owns 57,174 shares of the pharmaceutical company’s stock valued at $6,252,000 after buying an additional 31,988 shares during the period. Nisa Investment Advisors LLC boosted its stake in Vertex Pharmaceuticals by 10.4% in the first quarter. Nisa Investment Advisors LLC now owns 67,000 shares of the pharmaceutical company’s stock valued at $7,326,000 after buying an additional 6,315 shares during the period. DnB Asset Management AS boosted its stake in Vertex Pharmaceuticals by 18.3% in the first quarter. DnB Asset Management AS now owns 26,480 shares of the pharmaceutical company’s stock valued at $2,896,000 after buying an additional 4,100 shares during the period. Finally, Gateway Investment Advisers LLC boosted its stake in Vertex Pharmaceuticals by 7.7% in the first quarter. Gateway Investment Advisers LLC now owns 180,180 shares of the pharmaceutical company’s stock valued at $19,703,000 after buying an additional 12,858 shares during the period. 93.13% of the stock is currently owned by institutional investors.
Vertex Pharmaceuticals (NASDAQ:VRTX) traded up 2.44% on Friday, reaching $152.16. 320,714 shares of the company’s stock traded hands. The firm’s 50-day moving average is $143.33 and its 200 day moving average is $114.93. Vertex Pharmaceuticals has a 12 month low of $71.46 and a 12 month high of $167.86. The firm has a market cap of $38.36 billion, a PE ratio of 146.17 and a beta of 1.77.
Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Wednesday, July 26th. The pharmaceutical company reported $0.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.33. Vertex Pharmaceuticals had a return on equity of 4.64% and a net margin of 12.05%. The firm had revenue of $544.10 million during the quarter, compared to the consensus estimate of $489.95 million. During the same quarter in the previous year, the company posted $0.24 earnings per share. The business’s revenue was up 26.1% on a year-over-year basis. Equities analysts predict that Vertex Pharmaceuticals will post $1.60 EPS for the current year.
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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