Credit Suisse Group Boosts Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Price Target to $195.00

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) had its price objective raised by investment analysts at Credit Suisse Group from $125.00 to $195.00 in a report issued on Wednesday, July 19th. The firm currently has an “outperform” rating on the pharmaceutical company’s stock. Credit Suisse Group’s price objective suggests a potential upside of 26.80% from the company’s previous close.

A number of other analysts have also recently weighed in on VRTX. Zacks Investment Research raised shares of Vertex Pharmaceuticals from a “strong sell” rating to a “buy” rating and set a $102.00 price objective on the stock in a report on Tuesday, March 28th. Jefferies Group LLC reissued a “buy” rating and set a $100.00 price objective on shares of Vertex Pharmaceuticals in a report on Wednesday, March 29th. BMO Capital Markets raised shares of Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $89.67 to $100.00 in a report on Wednesday, March 29th. Stifel Nicolaus raised their price objective on shares of Vertex Pharmaceuticals from $100.00 to $129.00 and gave the stock a “buy” rating in a report on Wednesday, March 29th. Finally, Robert W. Baird reissued an “outperform” rating and set a $115.00 price objective on shares of Vertex Pharmaceuticals in a report on Wednesday, March 29th. Five analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $162.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) traded up 3.53% on Wednesday, hitting $153.78. 1,551,523 shares of the company traded hands. The firm has a market capitalization of $38.77 billion, a P/E ratio of 147.72 and a beta of 1.77. Vertex Pharmaceuticals has a 12 month low of $71.46 and a 12 month high of $167.85. The stock’s 50-day moving average is $143.85 and its 200 day moving average is $115.44.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.33. The firm had revenue of $544.10 million for the quarter, compared to analysts’ expectations of $489.95 million. Vertex Pharmaceuticals had a net margin of 12.05% and a return on equity of 4.64%. The firm’s revenue was up 26.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.24 earnings per share. Equities analysts forecast that Vertex Pharmaceuticals will post $1.60 EPS for the current fiscal year.

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In related news, CEO Jeffrey M. Leiden sold 147,101 shares of the business’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $129.50, for a total value of $19,049,579.50. Following the completion of the transaction, the chief executive officer now owns 312,142 shares of the company’s stock, valued at approximately $40,422,389. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey M. Leiden sold 216,624 shares of the business’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $160.96, for a total transaction of $34,867,799.04. Following the completion of the transaction, the chief executive officer now directly owns 400,266 shares of the company’s stock, valued at approximately $64,426,815.36. The disclosure for this sale can be found here. Insiders sold a total of 751,042 shares of company stock worth $113,078,257 over the last quarter. Insiders own 1.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in VRTX. Korea Investment CORP increased its position in shares of Vertex Pharmaceuticals by 225.3% in the first quarter. Korea Investment CORP now owns 950 shares of the pharmaceutical company’s stock valued at $104,000 after buying an additional 658 shares during the last quarter. Guardian Life Insurance Co. of America increased its position in shares of Vertex Pharmaceuticals by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 956 shares of the pharmaceutical company’s stock valued at $105,000 after buying an additional 6 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Vertex Pharmaceuticals by 15.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 988 shares of the pharmaceutical company’s stock valued at $127,000 after buying an additional 132 shares during the last quarter. FNY Partners Fund LP increased its position in shares of Vertex Pharmaceuticals by 900.0% in the second quarter. FNY Partners Fund LP now owns 1,000 shares of the pharmaceutical company’s stock valued at $128,000 after buying an additional 900 shares during the last quarter. Finally, Dupont Capital Management Corp purchased a new position in shares of Vertex Pharmaceuticals during the second quarter valued at $186,000. 93.13% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Vertex Pharmaceuticals (NASDAQ:VRTX)

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