Stock analysts at Royal Bank Of Canada initiated coverage on shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in a report released on Thursday, The Fly reports. The firm set an “outperform” rating on the pharmaceutical company’s stock.

VRTX has been the topic of several other research reports. UBS AG restated a “buy” rating and set a $135.00 price target (up previously from $132.00) on shares of Vertex Pharmaceuticals in a research note on Friday, May 19th. Cowen and Company restated a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, August 1st. BidaskClub lowered shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, August 19th. Maxim Group set a $195.00 price target on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a research note on Thursday, July 27th. Finally, BMO Capital Markets restated an “outperform” rating and set a $182.00 price target (up previously from $180.00) on shares of Vertex Pharmaceuticals in a research note on Thursday, July 27th. Six research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Vertex Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $162.88.

Shares of Vertex Pharmaceuticals (NASDAQ:VRTX) traded down 2.23% during mid-day trading on Thursday, reaching $153.31. 1,231,396 shares of the company were exchanged. Vertex Pharmaceuticals has a 12 month low of $71.46 and a 12 month high of $167.85. The company has a market capitalization of $38.65 billion, a price-to-earnings ratio of 147.27 and a beta of 1.75. The firm’s 50-day moving average is $155.09 and its 200-day moving average is $126.25.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.33. Vertex Pharmaceuticals had a net margin of 12.05% and a return on equity of 4.64%. The company had revenue of $544.10 million during the quarter, compared to the consensus estimate of $489.95 million. During the same quarter in the prior year, the firm earned $0.24 EPS. The company’s revenue was up 26.1% compared to the same quarter last year. On average, equities analysts forecast that Vertex Pharmaceuticals will post $1.60 earnings per share for the current fiscal year.

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In other news, SVP Paul M. Silva sold 2,577 shares of the firm’s stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $133.36, for a total transaction of $343,668.72. Following the completion of the transaction, the senior vice president now directly owns 22,648 shares of the company’s stock, valued at approximately $3,020,337.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David Altshuler sold 1,796 shares of the firm’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $160.00, for a total transaction of $287,360.00. Following the transaction, the executive vice president now directly owns 107,807 shares of the company’s stock, valued at $17,249,120. The disclosure for this sale can be found here. Insiders have sold a total of 526,092 shares of company stock valued at $84,101,702 over the last ninety days. 1.80% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the company. Private Advisor Group LLC lifted its holdings in shares of Vertex Pharmaceuticals by 1.8% during the 1st quarter. Private Advisor Group LLC now owns 5,328 shares of the pharmaceutical company’s stock worth $607,000 after acquiring an additional 94 shares during the period. Teachers Advisors LLC lifted its holdings in Vertex Pharmaceuticals by 48.6% during the 1st quarter. Teachers Advisors LLC now owns 510,373 shares of the pharmaceutical company’s stock valued at $55,809,000 after purchasing an additional 166,998 shares during the last quarter. Dynamic Capital Management Ltd lifted its holdings in Vertex Pharmaceuticals by 53.8% during the 1st quarter. Dynamic Capital Management Ltd now owns 39,614 shares of the pharmaceutical company’s stock valued at $4,332,000 after purchasing an additional 13,853 shares during the last quarter. Prudential Financial Inc. lifted its holdings in Vertex Pharmaceuticals by 12.8% during the 2nd quarter. Prudential Financial Inc. now owns 444,725 shares of the pharmaceutical company’s stock valued at $57,312,000 after purchasing an additional 50,350 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its holdings in Vertex Pharmaceuticals by 5.1% during the 1st quarter. Neuberger Berman Group LLC now owns 246,331 shares of the pharmaceutical company’s stock valued at $26,936,000 after purchasing an additional 12,060 shares during the last quarter. 92.88% of the stock is 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.

The Fly

Analyst Recommendations for Vertex Pharmaceuticals (NASDAQ:VRTX)

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