Vertex Pharmaceuticals Inc. (VRTX) Given Outperform Rating at Leerink Swann
A number of other research firms also recently weighed in on VRTX. Jefferies Group restated a buy rating and issued a $107.00 target price (up from $102.00) on shares of Vertex Pharmaceuticals in a report on Sunday, July 31st. Vetr upgraded shares of Vertex Pharmaceuticals from a buy rating to a strong-buy rating and set a $94.50 target price on the stock in a report on Monday, June 27th. Morgan Stanley reduced their target price on shares of Vertex Pharmaceuticals from $140.00 to $139.00 and set an overweight rating on the stock in a report on Thursday, July 28th. JMP Securities restated a buy rating on shares of Vertex Pharmaceuticals in a report on Tuesday, August 16th. Finally, Piper Jaffray Cos. restated a buy rating on shares of Vertex Pharmaceuticals in a report on Saturday, June 18th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $117.60.
Shares of Vertex Pharmaceuticals (NASDAQ:VRTX) opened at 87.21 on Friday. The firm has a 50-day moving average of $94.79 and a 200 day moving average of $89.64. Vertex Pharmaceuticals has a one year low of $75.90 and a one year high of $134.71. The stock’s market capitalization is $21.61 billion.
Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Wednesday, July 27th. The pharmaceutical company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.03. Vertex Pharmaceuticals had a negative net margin of 17.77% and a negative return on equity of 12.34%. The firm had revenue of $431.61 million for the quarter, compared to the consensus estimate of $428.08 million. During the same period in the previous year, the firm posted ($0.54) EPS. The business’s quarterly revenue was up 159.9% on a year-over-year basis. On average, equities research analysts predict that Vertex Pharmaceuticals will post $0.90 EPS for the current year.
In related news, Director Joshua S. Boger sold 47,000 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $100.66, for a total transaction of $4,731,020.00. Following the completion of the sale, the director now directly owns 274,725 shares in the company, valued at $27,653,818.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Joshua S. Boger sold 5,140 shares of the firm’s stock in a transaction dated Wednesday, July 6th. The stock was sold at an average price of $88.99, for a total transaction of $457,408.60. Following the sale, the director now owns 273,365 shares of the company’s stock, valued at $24,326,751.35. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in VRTX. Commonwealth Equity Services Inc boosted its stake in Vertex Pharmaceuticals by 23.7% in the first quarter. Commonwealth Equity Services Inc now owns 6,999 shares of the pharmaceutical company’s stock valued at $556,000 after buying an additional 1,342 shares during the last quarter. Virginia Retirement System purchased a new stake in Vertex Pharmaceuticals during the first quarter valued at about $317,000. Pacad Investment Ltd. purchased a new stake in Vertex Pharmaceuticals during the first quarter valued at about $715,000. Ngam Advisors L.P. boosted its stake in Vertex Pharmaceuticals by 28.5% in the first quarter. Ngam Advisors L.P. now owns 64,855 shares of the pharmaceutical company’s stock valued at $5,155,000 after buying an additional 14,372 shares during the last quarter. Finally, Prudential Financial Inc. boosted its stake in Vertex Pharmaceuticals by 59.9% in the first quarter. Prudential Financial Inc. now owns 496,217 shares of the pharmaceutical company’s stock valued at $39,445,000 after buying an additional 185,800 shares during the last quarter. Hedge funds and other institutional investors own 96.19% of the company’s stock.
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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