Equities researchers at Deutsche Bank began coverage on shares of Vertex Pharmaceuticals (NASDAQ:VRTX) in a research report issued to clients and investors on Tuesday, The Fly reports. The firm set a “buy” rating on the pharmaceutical company’s stock.
Several other equities research analysts have also recently commented on VRTX. BidaskClub cut shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, August 19th. Jefferies Group reissued a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, August 22nd. Vetr cut shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $181.00 price target on the stock. in a research report on Monday, September 4th. Royal Bank of Canada initiated coverage on shares of Vertex Pharmaceuticals in a research report on Thursday, September 14th. They set an “outperform” rating and a $175.00 price target on the stock. Finally, Needham & Company LLC reissued a “buy” rating and set a $195.00 price target on shares of Vertex Pharmaceuticals in a research report on Sunday, September 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $173.15.
Shares of Vertex Pharmaceuticals (NASDAQ VRTX) traded down $0.77 during trading hours on Tuesday, reaching $140.91. 1,010,252 shares of the company’s stock traded hands, compared to its average volume of 1,788,797. The company has a quick ratio of 3.14, a current ratio of 3.28 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals has a 52-week low of $71.46 and a 52-week high of $167.85. The company has a market cap of $36,319.37, a PE ratio of 239.35, a PEG ratio of 3.44 and a beta of 1.58.
In other Vertex Pharmaceuticals news, EVP Stuart A. Arbuckle sold 6,290 shares of the stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $143.97, for a total value of $905,571.30. Following the transaction, the executive vice president now directly owns 116,952 shares of the company’s stock, valued at approximately $16,837,579.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CMO Jeffrey Chodakewitz sold 3,437 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $151.64, for a total transaction of $521,186.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 343,519 shares of company stock worth $49,488,660. 1.80% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in VRTX. Global X Management Co. LLC raised its holdings in Vertex Pharmaceuticals by 61.6% in the 2nd quarter. Global X Management Co. LLC now owns 4,441 shares of the pharmaceutical company’s stock valued at $572,000 after acquiring an additional 1,693 shares during the period. Schwab Charles Investment Management Inc. grew its position in shares of Vertex Pharmaceuticals by 20.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 888,859 shares of the pharmaceutical company’s stock worth $114,548,000 after purchasing an additional 150,310 shares in the last quarter. Teacher Retirement System of Texas grew its position in shares of Vertex Pharmaceuticals by 4.4% during the 2nd quarter. Teacher Retirement System of Texas now owns 2,661 shares of the pharmaceutical company’s stock worth $343,000 after purchasing an additional 113 shares in the last quarter. Convergence Investment Partners LLC acquired a new position in shares of Vertex Pharmaceuticals during the 2nd quarter worth approximately $1,430,000. Finally, Conning Inc. grew its position in shares of Vertex Pharmaceuticals by 6.4% during the 2nd quarter. Conning Inc. now owns 6,489 shares of the pharmaceutical company’s stock worth $836,000 after purchasing an additional 390 shares in the last quarter. 93.33% of the stock is currently owned by hedge funds and other institutional investors.
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.
