Vertex Pharmaceuticals Inc. (VRTX) Given “Buy” Rating at Jefferies Group
Jefferies Group restated their buy rating on shares of Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) in a research report report published on Friday. The brokerage currently has a $104.00 price target on the pharmaceutical company’s stock, down from their prior price target of $107.00.
Several other brokerages have also weighed in on VRTX. Vetr raised shares of Vertex Pharmaceuticals from a buy rating to a strong-buy rating and set a $94.50 price objective on the stock in a research report on Monday, June 27th. Morgan Stanley cut their price objective on shares of Vertex Pharmaceuticals from $140.00 to $139.00 and set an overweight rating on the stock in a research report on Thursday, July 28th. JMP Securities reissued a buy rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, August 16th. Piper Jaffray Cos. reissued a buy rating on shares of Vertex Pharmaceuticals in a research report on Saturday, June 18th. Finally, Leerink Swann set a $112.00 price target on shares of Vertex Pharmaceuticals and gave the company a buy rating in a research report on Saturday, September 17th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Vertex Pharmaceuticals currently has an average rating of Buy and an average target price of $117.60.
Shares of Vertex Pharmaceuticals (NASDAQ:VRTX) opened at 86.34 on Friday. The firm’s market capitalization is $21.39 billion. Vertex Pharmaceuticals has a one year low of $75.90 and a one year high of $134.71. The firm’s 50 day moving average is $94.79 and its 200-day moving average is $89.64.
Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Wednesday, July 27th. The pharmaceutical company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.03. The firm had revenue of $431.61 million for the quarter, compared to analyst estimates of $428.08 million. Vertex Pharmaceuticals had a negative net margin of 17.77% and a negative return on equity of 12.34%. The company’s revenue for the quarter was up 159.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.54) earnings per share. On average, equities research analysts predict that Vertex Pharmaceuticals will post $0.90 earnings per share for the current fiscal year.
In other Vertex Pharmaceuticals news, Director Joshua S. Boger sold 6,500 shares of the company’s stock in a transaction on Wednesday, July 13th. The stock was sold at an average price of $88.81, for a total value of $577,265.00. Following the transaction, the director now directly owns 274,725 shares of the company’s stock, valued at approximately $24,398,327.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joshua S. Boger sold 47,000 shares of the company’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $100.66, for a total value of $4,731,020.00. Following the completion of the transaction, the director now directly owns 274,725 shares in the company, valued at $27,653,818.50. The disclosure for this sale can be found here. 1.90% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Samlyn Capital LLC raised its position in shares of Vertex Pharmaceuticals by 19.7% in the first quarter. Samlyn Capital LLC now owns 381,000 shares of the pharmaceutical company’s stock worth $30,286,000 after buying an additional 62,587 shares in the last quarter. Strs Ohio raised its position in shares of Vertex Pharmaceuticals by 9.9% in the second quarter. Strs Ohio now owns 346,339 shares of the pharmaceutical company’s stock worth $29,792,000 after buying an additional 31,241 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Vertex Pharmaceuticals by 21.9% in the second quarter. Nisa Investment Advisors LLC now owns 63,375 shares of the pharmaceutical company’s stock worth $5,452,000 after buying an additional 11,375 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of Vertex Pharmaceuticals during the second quarter worth approximately $14,876,000. Finally, Pacad Investment Ltd. purchased a new position in shares of Vertex Pharmaceuticals during the first quarter worth approximately $715,000. 96.19% of the stock is currently owned by hedge funds and other institutional investors.
About Vertex Pharmaceuticals
Vertex Pharmaceuticals Incorporated is engaged in the business of discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company operates in pharmaceuticals segment. Its business 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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