Vertex Pharmaceuticals Incorporated (VRTX) Upgraded by Vetr Inc. to “Strong-Buy”

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) was upgraded by equities researchers at Vetr from a “buy” rating to a “strong-buy” rating in a report released on Monday, July 31st. The firm currently has a $181.00 target price on the pharmaceutical company’s stock. Vetr‘s price objective indicates a potential upside of 22.19% from the company’s current price.

Several other research firms also recently weighed in on VRTX. Jefferies Group LLC reissued a “buy” rating and set a $185.00 price target (up previously from $155.00) on shares of Vertex Pharmaceuticals in a research report on Wednesday, July 19th. Credit Suisse Group raised their price target on Vertex Pharmaceuticals from $125.00 to $195.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 19th. Robert W. Baird lifted their price objective on Vertex Pharmaceuticals from $115.00 to $136.00 and gave the company an “outperform” rating in a research report on Friday, April 28th. UBS AG downgraded Vertex Pharmaceuticals from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $135.00 to $174.00 in a research report on Wednesday, July 19th. They noted that the move was a valuation call. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $195.00 price objective (up previously from $155.00) on shares of Vertex Pharmaceuticals in a research report on Friday, July 21st. Five equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $162.88.

Shares of Vertex Pharmaceuticals (VRTX) opened at 148.13 on Monday. Vertex Pharmaceuticals has a 12 month low of $71.46 and a 12 month high of $167.85. The company’s 50 day moving average price is $146.73 and its 200 day moving average price is $117.81. The stock has a market capitalization of $37.35 billion, a PE ratio of 142.30 and a beta of 1.77.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released 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 during 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%. Vertex Pharmaceuticals’s revenue was up 26.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.24 earnings per share. Equities analysts anticipate that Vertex Pharmaceuticals will post $1.60 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This article was posted by BNB Daily and is the property of of BNB Daily. If you are accessing this article on another domain, it was stolen and reposted in violation of US & international trademark and copyright laws. The correct version of this article can be viewed at https://www.baseball-news-blog.com/2017/08/19/vertex-pharmaceuticals-incorporated-vrtx-upgraded-to-strong-buy-by-vetr-inc-updated-updated.html.

In related news, CFO Ian F. Smith sold 4,250 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was 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 in the company, valued at $18,668,243.82. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jeffrey M. Leiden sold 147,101 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 312,142 shares in the company, valued at approximately $40,422,389. The disclosure for this sale can be found here. In the last quarter, insiders sold 751,042 shares of company stock worth $113,078,257. Insiders own 1.80% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of Vertex Pharmaceuticals by 0.8% in the second quarter. BlackRock Inc. now owns 19,405,981 shares of the pharmaceutical company’s stock valued at $2,500,849,000 after buying an additional 159,601 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Vertex Pharmaceuticals by 3.1% in 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 buying an additional 504,982 shares during the last quarter. State Street Corp boosted its stake in shares of Vertex Pharmaceuticals by 2.0% in the first quarter. State Street Corp now owns 12,013,178 shares of the pharmaceutical company’s stock valued at $1,313,647,000 after buying an additional 239,017 shares during the last quarter. Clearbridge Investments LLC boosted its stake in shares of Vertex Pharmaceuticals by 1.2% in the first quarter. Clearbridge Investments LLC now owns 8,754,618 shares of the pharmaceutical company’s stock valued at $957,317,000 after buying an additional 105,260 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of Vertex Pharmaceuticals by 253.8% in the second quarter. Jennison Associates LLC now owns 5,055,122 shares of the pharmaceutical company’s stock valued at $651,454,000 after buying an additional 3,626,368 shares during the last quarter. Hedge funds and other institutional investors own 94.89% of the company’s stock.

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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Vertex Pharmaceuticals (NASDAQ:VRTX)

Receive News & Ratings for Vertex Pharmaceuticals Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vertex Pharmaceuticals Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply