Vertex Pharmaceuticals (NASDAQ:VRTX) had its price target lifted by equities researchers at Stifel Nicolaus from $182.00 to $200.00 in a research report issued on Tuesday. The firm currently has a “buy” rating on the pharmaceutical company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 14.34% from the stock’s previous close.
VRTX has been the subject of a number of other reports. BidaskClub raised shares of Vertex Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, April 13th. Zacks Investment Research raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a report on Friday, April 20th. Maxim Group reaffirmed a “buy” rating and set a $200.00 price objective on shares of Vertex Pharmaceuticals in a report on Friday, April 27th. Morgan Stanley increased their price objective on shares of Vertex Pharmaceuticals from $200.00 to $207.00 and gave the company an “overweight” rating in a report on Friday, April 27th. Finally, Cowen reaffirmed a “buy” rating and set a $200.00 price objective on shares of Vertex Pharmaceuticals in a report on Friday, April 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-four have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $193.75.
Vertex Pharmaceuticals opened at $174.91 on Tuesday, MarketBeat.com reports. The company has a market capitalization of $44.61 billion, a P/E ratio of 218.64, a PEG ratio of 1.73 and a beta of 1.48. Vertex Pharmaceuticals has a 12-month low of $136.50 and a 12-month high of $183.39. The company has a quick ratio of 3.55, a current ratio of 3.67 and a debt-to-equity ratio of 0.01.
Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Wednesday, July 25th. The pharmaceutical company reported $0.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.54. The company had revenue of $752.20 million during the quarter, compared to analyst estimates of $680.86 million. Vertex Pharmaceuticals had a net margin of 15.84% and a return on equity of 19.86%. The firm’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.39 EPS. analysts forecast that Vertex Pharmaceuticals will post 2.55 EPS for the current year.
In other news, SVP Paul M. Silva sold 2,098 shares of the stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $174.44, for a total transaction of $365,975.12. Following the completion of the transaction, the senior vice president now directly owns 17,376 shares in the company, valued at approximately $3,031,069.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Paul M. Silva sold 860 shares of the stock in a transaction that occurred on Monday, July 16th. The shares were sold at an average price of $179.85, for a total value of $154,671.00. Following the transaction, the senior vice president now owns 16,947 shares of the company’s stock, valued at $3,047,917.95. The disclosure for this sale can be found here. Insiders have sold a total of 209,192 shares of company stock valued at $34,084,002 over the last quarter. Corporate insiders own 0.75% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Asymmetry Capital Management L.P. bought a new stake in Vertex Pharmaceuticals in the second quarter worth $9,043,000. Toronto Dominion Bank lifted its position in Vertex Pharmaceuticals by 18.6% in the second quarter. Toronto Dominion Bank now owns 167,359 shares of the pharmaceutical company’s stock worth $28,439,000 after buying an additional 26,300 shares during the last quarter. Bowling Portfolio Management LLC bought a new stake in Vertex Pharmaceuticals in the second quarter worth $2,941,000. Rhumbline Advisers lifted its position in Vertex Pharmaceuticals by 2.9% in the second quarter. Rhumbline Advisers now owns 453,117 shares of the pharmaceutical company’s stock worth $77,012,000 after buying an additional 12,823 shares during the last quarter. Finally, Sivik Global Healthcare LLC lifted its position in Vertex Pharmaceuticals by 24.6% in the second quarter. Sivik Global Healthcare LLC now owns 43,600 shares of the pharmaceutical company’s stock worth $7,410,000 after buying an additional 8,600 shares during the last quarter. Hedge funds and other institutional investors own 93.35% of the company’s stock.
About Vertex Pharmaceuticals
Vertex Pharmaceuticals Incorporated, a biotechnology company, develops medicines for serious diseases. The company focuses on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs. It markets ORKAMBI (lumacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are homozygous for the F508del mutation in their cystic fibrosis transmembrane conductance regulator (CFTR) gene; KALYDECO (ivacaftor) for the treatment of patients with CF who have specific mutations in their CFTR gene, including the G551D mutation; and SYMDEKO (tezacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are F508del homozygous or who have 1 mutation that is responsive to tezacaftor/ivacaftor.
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