Vertex Pharmaceuticals (NASDAQ:VRTX) Sets New 12-Month Low at $179.84

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)’s stock price reached a new 52-week low during trading on Thursday . The company traded as low as $179.84 and last traded at $186.55, with a volume of 135409 shares. The stock had previously closed at $213.56.

A number of equities research analysts have commented on the stock. Royal Bank of Canada restated a “buy” rating on shares of Vertex Pharmaceuticals in a report on Sunday, April 11th. Robert W. Baird upgraded shares of Vertex Pharmaceuticals from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $220.00 to $252.00 in a report on Tuesday, February 23rd. Zacks Investment Research upgraded shares of Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and set a $226.00 price target for the company in a report on Wednesday, May 5th. Finally, Morgan Stanley raised their price target on shares of Vertex Pharmaceuticals from $253.00 to $254.00 and gave the stock an “equal weight” rating in a report on Monday, May 3rd. Five analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Vertex Pharmaceuticals presently has an average rating of “Buy” and an average target price of $288.53.

The company has a quick ratio of 4.24, a current ratio of 4.39 and a debt-to-equity ratio of 0.06. The company’s 50-day moving average price is $213.89. The stock has a market capitalization of $56.11 billion, a P/E ratio of 17.64, a P/E/G ratio of 1.89 and a beta of 0.68.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Thursday, April 29th. The pharmaceutical company reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.60. Vertex Pharmaceuticals had a net margin of 43.06% and a return on equity of 29.61%. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.66 billion. As a group, research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 9.42 EPS for the current fiscal year.

In other news, Director Sangeeta N. Bhatia sold 559 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, June 2nd. The shares were sold at an average price of $209.69, for a total value of $117,216.71. Following the completion of the transaction, the director now owns 5,465 shares in the company, valued at $1,145,955.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Bastiano Sanna sold 1,686 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, April 5th. The stock was sold at an average price of $214.14, for a total transaction of $361,040.04. Following the completion of the transaction, the executive vice president now owns 36,223 shares of the company’s stock, valued at approximately $7,756,793.22. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,089 shares of company stock worth $1,527,127. Insiders own 0.30% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Carroll Financial Associates Inc. increased its stake in shares of Vertex Pharmaceuticals by 13.1% in the first quarter. Carroll Financial Associates Inc. now owns 414 shares of the pharmaceutical company’s stock worth $88,000 after purchasing an additional 48 shares in the last quarter. Michael B. Yongue grew its stake in Vertex Pharmaceuticals by 6.0% during the fourth quarter. Michael B. Yongue now owns 868 shares of the pharmaceutical company’s stock valued at $205,000 after acquiring an additional 49 shares in the last quarter. Selective Wealth Management Inc. grew its stake in Vertex Pharmaceuticals by 50.0% during the first quarter. Selective Wealth Management Inc. now owns 150 shares of the pharmaceutical company’s stock valued at $32,000 after acquiring an additional 50 shares in the last quarter. Hillsdale Investment Management Inc. grew its stake in Vertex Pharmaceuticals by 2.5% during the first quarter. Hillsdale Investment Management Inc. now owns 2,015 shares of the pharmaceutical company’s stock valued at $433,000 after acquiring an additional 50 shares in the last quarter. Finally, CWM LLC grew its stake in Vertex Pharmaceuticals by 8.1% during the first quarter. CWM LLC now owns 680 shares of the pharmaceutical company’s stock valued at $146,000 after acquiring an additional 51 shares in the last quarter. Hedge funds and other institutional investors own 90.06% of the company’s stock.

About Vertex Pharmaceuticals (NASDAQ:VRTX)

Vertex Pharmaceuticals, Inc is a global biotechnology company. It engages in the business of discovering, developing, manufacturing and commercializing small molecule drugs for patients with serious diseases. The firm focuses on development and commercializing therapies for the treatment of cystic fibrosis, infectious diseases including viral infections such as influenza and bacterial infections, autoimmune diseases such as rheumatoid arthritis, cancer, inflammatory bowel disease and neurological disorders including pain and multiple sclerosis.

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