Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) – Equities researchers at Leerink Swann raised their Q1 2018 earnings per share estimates for Vertex Pharmaceuticals in a note issued to investors on Thursday. Leerink Swann analyst G. Porges now anticipates that the pharmaceutical company will earn $0.28 per share for the quarter, up from their previous forecast of $0.27. Leerink Swann also issued estimates for Vertex Pharmaceuticals’ Q2 2018 earnings at $0.24 EPS, Q3 2018 earnings at $0.29 EPS and Q4 2018 earnings at $0.33 EPS.
Several other research analysts have also commented on the stock. Zacks Investment Research lowered shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Sunday. JPMorgan Chase & Co. restated a “buy” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, January 9th. Bank of America upgraded shares of Vertex Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $180.00 price objective for the company in a report on Friday, January 5th. Oppenheimer upped their price objective on shares of Vertex Pharmaceuticals from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, January 4th. Finally, 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 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-five have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $175.89.
Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Wednesday, October 25th. The pharmaceutical company reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.49. Vertex Pharmaceuticals had a net margin of 8.53% and a return on equity of 9.23%. The business had revenue of $578.20 million during the quarter, compared to analysts’ expectations of $522.07 million. During the same quarter in the prior year, the company posted $0.16 EPS. The firm’s revenue for the quarter was up 39.7% compared to the same quarter last year.
In other Vertex Pharmaceuticals news, CEO Jeffrey M. Leiden sold 125,000 shares of the firm’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $141.35, for a total transaction of $17,668,750.00. Following the completion of the sale, the chief executive officer now directly owns 237,407 shares in the company, valued at approximately $33,557,479.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Paul M. Silva sold 1,289 shares of the firm’s stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $152.31, for a total transaction of $196,327.59. Following the sale, the senior vice president now owns 17,923 shares of the company’s stock, valued at $2,729,852.13. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 458,028 shares of company stock valued at $67,470,259. 1.80% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in VRTX. Smithfield Trust Co. purchased a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter valued at about $135,000. FNY Managed Accounts LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter valued at about $162,000. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter valued at about $198,000. Intact Investment Management Inc. purchased a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter valued at about $213,000. Finally, Steward Partners Investment Advisory LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter valued at about $231,000. Institutional investors and hedge funds own 93.19% of the company’s stock.
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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.
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