Several brokerages have updated their recommendations and price targets on shares of Vertex Pharmaceuticals (NASDAQ: VRTX) in the last few weeks:

  • 9/29/2017 – Vertex Pharmaceuticals is now covered by analysts at BTIG Research. They set a “buy” rating and a $200.00 price target on the stock.
  • 9/29/2017 – Vertex Pharmaceuticals is now covered by analysts at DA Davidson. They set a “buy” rating and a $200.00 price target on the stock.
  • 9/27/2017 – Vertex Pharmaceuticals had its “buy” rating reaffirmed by analysts at BMO Capital Markets.
  • 9/26/2017 – Vertex Pharmaceuticals was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $174.00 price target on the stock. According to Zacks, “Vertex is focused on cystic fibrosis (CF) treatments. The company has two CF drugs – Kalydeco & Orkambi – in its portfolio with blockbuster potential. Its efforts to get the drugs approved for additional indications are encouraging. Label expansion will increase the patient population and boost sales. Vertex’s CF pipeline is quite strong with a broad portfolio of next-generation CF correctors. Investor focus is on triple combination CF regimens, which are crucial for long-term growth at Vertex as they have the potential to treat up to 90% of CF patients.  We are encouraged by the recent positive data from three of the triple combination regimens. The stock has also shot up so far this year. However, Vertex has faced many challenges with respect to commercialization of Orkambi in ex-U.S. markets due to re-imbursement hurdles. Orkambi’s EU reimbursement remains a key for sales growth in 2H17.”
  • 9/21/2017 – Vertex Pharmaceuticals was downgraded by analysts at Vetr to a “sell” rating.
  • 9/17/2017 – Vertex Pharmaceuticals had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $195.00 price target on the stock.
  • 9/14/2017 – Vertex Pharmaceuticals is now covered by analysts at Royal Bank Of Canada. They set an “outperform” rating and a $175.00 price target on the stock.
  • 9/4/2017 – Vertex Pharmaceuticals was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $181.00 price target on the stock.
  • 8/22/2017 – Vertex Pharmaceuticals had its “buy” rating reaffirmed by analysts at Jefferies Group LLC.
  • 8/19/2017 – Vertex Pharmaceuticals was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 8/4/2017 – Vertex Pharmaceuticals was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Vertex beat estimates for both earnings and sales in Q2 as sales of both its cystic fibrosis (CF) drugs rose. Vertex has two CF drugs in its portfolio with blockbuster potential – Kalydeco & Orkambi. Its efforts to get the drugs approved for additional indications are encouraging. Label expansion will increase patient population and boost sales. Vertex’s CF pipeline is quite strong with a broad portfolio of next-generation CF correctors. Investor focus is on the triple combination CF regimens, which are crucial for long-term growth as they have the potential to treat up to 90% of CF patients. We are encouraged by the recent positive data from three of the triple combination regimens. The stock has also shot up this year. However, Vertex has faced many challenges with respect to commercialization of Orkambi in ex-U.S. markets due to re-imbursement hurdles. Orkambi’s EU reimbursement remains a key for sales growth in 2H17.”

Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) traded up 0.18% during midday trading on Tuesday, hitting $152.51. 995,007 shares of the stock were exchanged. Vertex Pharmaceuticals Incorporated has a 12-month low of $71.46 and a 12-month high of $167.85. The company has a market cap of $38.45 billion, a PE ratio of 146.50 and a beta of 1.73. The firm has a 50-day moving average price of $153.81 and a 200-day moving average price of $132.36.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.33. Vertex Pharmaceuticals had a net margin of 12.05% and a return on equity of 4.64%. The firm had revenue of $544.10 million for the quarter, compared to analysts’ expectations of $489.95 million. During the same quarter last year, the company posted $0.24 earnings per share. Vertex Pharmaceuticals’s revenue was up 26.1% on a year-over-year basis. On average, equities analysts predict that Vertex Pharmaceuticals Incorporated will post $1.62 EPS for the current year.

In related news, SVP Paul M. Silva sold 43,443 shares of the stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $161.07, for a total value of $6,997,364.01. Following the sale, the senior vice president now owns 26,516 shares of the company’s stock, valued at approximately $4,270,932.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CMO Jeffrey Chodakewitz sold 573 shares of the stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $129.85, for a total transaction of $74,404.05. Following the completion of the sale, the chief marketing officer now directly owns 123,084 shares in the company, valued at approximately $15,982,457.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 514,920 shares of company stock valued at $82,633,446. 1.80% of the stock is currently owned by insiders.

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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