JPMorgan Chase & Co. Reiterates Overweight Rating for Vertex Pharmaceuticals Inc. (VRTX)
Vertex Pharmaceuticals Inc. (NASDAQ:VRTX)‘s stock had its “overweight” rating reissued by equities researchers at JPMorgan Chase & Co. in a research note issued to investors on Wednesday.
Other equities research analysts also recently issued reports about the company. Vetr upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $94.38 price objective on the stock in a research report on Monday, June 13th. Zacks Investment Research raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $98.00 target price on the stock in a research note on Wednesday, July 20th. Piper Jaffray Cos. reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Saturday, June 18th. Jefferies Group reaffirmed a “buy” rating and set a $103.00 target price on shares of Vertex Pharmaceuticals in a research note on Friday, June 17th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Thursday, June 16th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $117.60.
Shares of Vertex Pharmaceuticals (NASDAQ:VRTX) traded up 2.01% on Wednesday, reaching $88.16. The company’s stock had a trading volume of 250,883 shares. The firm’s market capitalization is $21.84 billion. Vertex Pharmaceuticals has a one year low of $75.90 and a one year high of $134.71. The firm has a 50-day moving average price of $93.91 and a 200 day moving average price of $89.85.
Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Wednesday, July 27th. The pharmaceutical company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. Vertex Pharmaceuticals had a negative return on equity of 12.34% and a negative net margin of 17.77%. The business had revenue of $431.61 million for the quarter, compared to the consensus estimate of $428.08 million. During the same period in the prior year, the business posted ($0.54) earnings per share. The company’s quarterly revenue was up 159.9% compared to the same quarter last year. On average, analysts anticipate 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 stock in a transaction dated Wednesday, September 28th. The stock was sold at an average price of $88.15, for a total transaction of $572,975.00. Following the sale, the director now directly owns 274,725 shares of the company’s stock, valued at approximately $24,217,008.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joshua S. Boger sold 7,500 shares of the stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $100.46, for a total value of $753,450.00. Following the sale, the director now directly owns 274,725 shares in the company, valued at $27,598,873.50. The disclosure for this sale can be found here. 1.90% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Commonwealth Equity Services Inc increased its stake in shares of 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 in the last quarter. Virginia Retirement System bought a new stake in shares of Vertex Pharmaceuticals during the first quarter valued at $317,000. Pacad Investment Ltd. bought a new stake in shares of Vertex Pharmaceuticals during the first quarter valued at $715,000. Ngam Advisors L.P. increased its stake in shares of 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 in the last quarter. Finally, Prudential Financial Inc. increased its stake in shares of 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 in the last quarter. 96.19% of the stock is currently owned by 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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