Vertex Pharmaceuticals (NASDAQ:VRTX) was upgraded by analysts at Bank of America from a “neutral” rating to a “buy” rating in a research report issued on Friday, Marketbeat.com reports. The brokerage currently has a $180.00 target price on the pharmaceutical company’s stock. Bank of America’s price objective would indicate a potential upside of 15.61% from the company’s previous close.
Other equities analysts have also issued reports about the stock. DA Davidson initiated coverage on shares of Vertex Pharmaceuticals in a report on Friday, September 29th. They set a “buy” rating and a $200.00 price objective on the stock. BTIG Research initiated coverage on shares of Vertex Pharmaceuticals in a report on Friday, September 29th. They set a “buy” rating and a $200.00 price objective on the stock. BMO Capital Markets reissued a “buy” rating on shares of Vertex Pharmaceuticals in a report on Wednesday, September 27th. Needham & Company LLC reissued a “buy” rating and set a $195.00 price objective on shares of Vertex Pharmaceuticals in a report on Sunday, September 17th. Finally, Maxim Group reissued a “buy” rating and set a $195.00 price objective on shares of Vertex Pharmaceuticals in a report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $175.81.
Shares of Vertex Pharmaceuticals (NASDAQ VRTX) traded up $2.62 during mid-day trading on Friday, reaching $155.69. 1,857,324 shares of the company traded hands, compared to its average volume of 1,440,000. The stock has a market capitalization of $40,050.00, a price-to-earnings ratio of 199.60, a price-to-earnings-growth ratio of 1.94 and a beta of 1.58. The company has a current ratio of 3.28, a quick ratio of 3.14 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals has a 12 month low of $77.09 and a 12 month high of $167.85.
In other news, EVP Michael Parini sold 2,125 shares of Vertex Pharmaceuticals stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $152.93, for a total transaction of $324,976.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey M. Leiden sold 125,000 shares of Vertex Pharmaceuticals stock in a transaction 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 345,586 shares of company stock valued at $49,802,201. 1.80% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of the company. Jennison Associates LLC lifted its position in Vertex Pharmaceuticals by 19.0% during the third quarter. Jennison Associates LLC now owns 6,017,766 shares of the pharmaceutical company’s stock valued at $914,941,000 after purchasing an additional 962,644 shares during the period. Point72 Asset Management L.P. lifted its position in Vertex Pharmaceuticals by 8,061.1% during the third quarter. Point72 Asset Management L.P. now owns 909,230 shares of the pharmaceutical company’s stock valued at $138,239,000 after purchasing an additional 898,089 shares during the period. Assenagon Asset Management S.A. lifted its position in Vertex Pharmaceuticals by 9,422.3% during the third quarter. Assenagon Asset Management S.A. now owns 893,380 shares of the pharmaceutical company’s stock valued at $135,829,000 after purchasing an additional 883,998 shares during the period. AJO LP acquired a new position in Vertex Pharmaceuticals during the second quarter valued at $71,956,000. Finally, Vanguard Group Inc. lifted its position in Vertex Pharmaceuticals by 3.1% during the second quarter. Vanguard Group Inc. now owns 16,979,872 shares of the pharmaceutical company’s stock valued at $2,188,196,000 after purchasing an additional 504,982 shares during the period. Institutional investors and hedge funds own 93.09% of the company’s stock.
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.
