Vertex Pharmaceuticals (VRTX) Price Target Raised to $200.00 at Morgan Stanley

Vertex Pharmaceuticals (NASDAQ:VRTX) had its target price raised by equities research analysts at Morgan Stanley from $198.00 to $200.00 in a research report issued on Friday. The firm currently has an “overweight” rating on the pharmaceutical company’s stock. Morgan Stanley’s target price indicates a potential upside of 20.60% from the company’s previous close.

VRTX has been the subject of several other reports. Barclays upped their price objective on Vertex Pharmaceuticals from $180.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday. HC Wainwright reaffirmed a “hold” rating and set a $103.00 price objective on shares of Vertex Pharmaceuticals in a research note on Thursday. Zacks Investment Research downgraded Vertex Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 21st. Robert W. Baird reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Friday, October 27th. Finally, Citigroup reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Thursday. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twenty-five have issued a buy rating to the stock. Vertex Pharmaceuticals has an average rating of “Buy” and a consensus target price of $180.07.

Vertex Pharmaceuticals (NASDAQ VRTX) traded down $7.15 during trading on Friday, hitting $165.84. The stock had a trading volume of 733,046 shares, compared to its average volume of 1,826,676. Vertex Pharmaceuticals has a fifty-two week low of $84.39 and a fifty-two week high of $174.96. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.28 and a quick ratio of 3.14. The stock has a market cap of $42,201.89 and a P/E ratio of 159.46.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Wednesday, January 31st. The pharmaceutical company reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.08. The firm had revenue of $651.63 million during the quarter, compared to the consensus estimate of $592.49 million. Vertex Pharmaceuticals had a return on equity of 11.42% and a net margin of 10.59%. The firm’s revenue was up 42.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.35 EPS. sell-side analysts forecast that Vertex Pharmaceuticals will post 1.54 earnings per share for the current year.

Vertex Pharmaceuticals announced that its Board of Directors has approved a share repurchase plan on Wednesday, January 31st that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the pharmaceutical company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

In other Vertex Pharmaceuticals news, EVP Stuart A. Arbuckle sold 4,250 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $148.17, for a total transaction of $629,722.50. Following the sale, the executive vice president now owns 46,202 shares in the company, valued at approximately $6,845,750.34. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Amit Sachdev sold 15,085 shares of the stock in a transaction on Monday, January 29th. The shares were sold at an average price of $170.00, for a total value of $2,564,450.00. Following the sale, the executive vice president now owns 54,248 shares in the company, valued at approximately $9,222,160. The disclosure for this sale can be found here. In the last quarter, insiders have sold 387,873 shares of company stock worth $59,388,995. 1.80% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the business. Beacon Capital Management purchased a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth $0. Guardian Life Insurance Co. of America lifted its stake in shares of Vertex Pharmaceuticals by 0.6% during the 1st quarter. Guardian Life Insurance Co. of America now owns 956 shares of the pharmaceutical company’s stock worth $105,000 after purchasing an additional 6 shares during the period. Elk Creek Partners LLC lifted its stake in shares of Vertex Pharmaceuticals by 0.3% during the 1st quarter. Elk Creek Partners LLC now owns 3,120 shares of the pharmaceutical company’s stock worth $341,000 after purchasing an additional 10 shares during the period. Conning Inc. lifted its stake in shares of Vertex Pharmaceuticals by 0.3% during the 2nd quarter. Conning Inc. now owns 5,740 shares of the pharmaceutical company’s stock worth $494,000 after purchasing an additional 20 shares during the period. Finally, Municipal Employees Retirement System of Michigan lifted its stake in shares of Vertex Pharmaceuticals by 0.3% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 7,820 shares of the pharmaceutical company’s stock worth $682,000 after purchasing an additional 20 shares during the period. Hedge funds and other institutional investors own 93.15% 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.

Analyst Recommendations for Vertex Pharmaceuticals (NASDAQ:VRTX)