Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) had its target price upped by Piper Jaffray Companies to $194.00 in a research report issued on Wednesday, July 19th. The firm currently has an “overweight” rating on the pharmaceutical company’s stock. Piper Jaffray Companies’ price target would indicate a potential upside of 26.15% from the stock’s previous close.
Several other analysts also recently commented on VRTX. Stifel Nicolaus increased their target price on Vertex Pharmaceuticals from $130.00 to $154.00 and gave the company a “buy” rating in a research note on Tuesday, July 18th. Vetr downgraded Vertex Pharmaceuticals from a “sell” rating to a “strong sell” rating and set a $102.58 target price on the stock. in a research note on Thursday, April 20th. Zacks Investment Research downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, April 10th. Jefferies Group LLC reiterated a “buy” rating and set a $126.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 2nd. Finally, Needham & Company LLC upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $155.00 target price on the stock in a research note on Friday, June 23rd. Five research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $162.88.
Shares of Vertex Pharmaceuticals (VRTX) traded up 3.53% on Wednesday, hitting $153.78. The company had a trading volume of 1,551,523 shares. The stock has a market capitalization of $38.77 billion, a PE ratio of 147.72 and a beta of 1.77. Vertex Pharmaceuticals has a 52 week low of $71.46 and a 52 week high of $167.85. The firm’s 50 day moving average price is $143.85 and its 200-day moving average price is $115.44.
Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.33. The company had revenue of $544.10 million for the quarter, compared to the consensus estimate of $489.95 million. Vertex Pharmaceuticals had a return on equity of 4.64% and a net margin of 12.05%. The firm’s quarterly revenue was up 26.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.24 EPS. Analysts forecast that Vertex Pharmaceuticals will post $1.60 earnings per share for the current fiscal year.
In related news, CMO Jeffrey Chodakewitz sold 3,438 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $127.80, for a total value of $439,376.40. Following the completion of the transaction, the chief marketing officer now owns 125,949 shares in the company, valued at $16,096,282.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Ian F. Smith sold 4,250 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $155.39, for a total value of $660,407.50. Following the transaction, the chief financial officer now owns 120,138 shares of the company’s stock, valued at approximately $18,668,243.82. The disclosure for this sale can be found here. In the last quarter, insiders sold 751,042 shares of company stock valued at $113,078,257. 1.80% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in VRTX. Korea Investment CORP raised 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 period. Guardian Life Insurance Co. of America raised 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 period. Northwestern Mutual Wealth Management Co. raised 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 period. FNY Partners Fund LP raised 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 period. Finally, Dupont Capital Management Corp acquired a new position in shares of Vertex Pharmaceuticals during the second quarter valued at about $186,000. Institutional investors and hedge funds own 93.13% 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.
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