Vertex Pharmaceuticals (NASDAQ:VRTX) had its target price raised by equities research analysts at Oppenheimer from $175.00 to $190.00 in a research report issued to clients and investors on Thursday. The firm presently has an “outperform” rating on the pharmaceutical company’s stock. Oppenheimer’s price objective points to a potential upside of 24.99% from the company’s current price.
A number of other equities analysts have also recently issued reports on the stock. Deutsche Bank began coverage on shares of Vertex Pharmaceuticals in a report on Tuesday, December 12th. They issued a “buy” rating and a $175.00 target price on the stock. Cowen reissued a “buy” rating and issued a $200.00 target price on shares of Vertex Pharmaceuticals in a report on Monday, December 11th. Royal Bank of Canada reissued a “buy” rating on shares of Vertex Pharmaceuticals in a report on Friday, October 27th. Needham & Company LLC reissued a “buy” rating and issued a $195.00 target price on shares of Vertex Pharmaceuticals in a report on Friday, October 27th. Finally, Robert W. Baird reissued a “buy” rating on shares of Vertex Pharmaceuticals in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $173.78.
Vertex Pharmaceuticals (NASDAQ:VRTX) opened at $152.01 on Thursday. The company has a market capitalization of $38,440.00, a PE ratio of 194.88, a P/E/G ratio of 1.93 and a beta of 1.58. Vertex Pharmaceuticals has a 52 week low of $74.87 and a 52 week high of $167.85. The company has a quick ratio of 3.14, a current ratio of 3.28 and a debt-to-equity ratio of 0.01.
In related news, CEO Jeffrey M. Leiden sold 125,000 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $141.35, for a total transaction of $17,668,750.00. Following the sale, the chief executive officer now owns 237,407 shares of the company’s stock, valued at $33,557,479.45. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Thomas Graney sold 777 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $149.95, for a total value of $116,511.15. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 345,586 shares of company stock worth $49,802,201. Corporate insiders own 1.80% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Atlantic Trust Group LLC bought a new stake in Vertex Pharmaceuticals during the third quarter worth approximately $1,784,000. Parametric Portfolio Associates LLC grew its position in Vertex Pharmaceuticals by 27.3% in the third quarter. Parametric Portfolio Associates LLC now owns 476,018 shares of the pharmaceutical company’s stock worth $72,374,000 after buying an additional 102,115 shares during the last quarter. AXA grew its position in Vertex Pharmaceuticals by 60.3% in the third quarter. AXA now owns 274,198 shares of the pharmaceutical company’s stock worth $41,689,000 after buying an additional 103,149 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new position in Vertex Pharmaceuticals in the third quarter worth approximately $231,000. Finally, Public Employees Retirement System of Ohio grew its position in Vertex Pharmaceuticals by 2.9% in the third quarter. Public Employees Retirement System of Ohio now owns 199,378 shares of the pharmaceutical company’s stock worth $30,313,000 after buying an additional 5,712 shares during the last quarter. 93.09% 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.
