Vertex Pharmaceuticals Inc. (VRTX) Stock Rating Reaffirmed by RBC Capital Markets
Vertex Pharmaceuticals Inc. (NASDAQ:VRTX)‘s stock had its “buy” rating reaffirmed by analysts at RBC Capital Markets in a research report issued on Wednesday.
A number of other research analysts also recently issued reports on VRTX. Leerink Swann reissued an “outperform” rating and issued a $113.00 price target on shares of Vertex Pharmaceuticals in a report on Monday, August 15th. Stifel Nicolaus decreased their price target on Vertex Pharmaceuticals from $108.00 to $105.00 and set a “buy” rating for the company in a report on Tuesday, August 16th. JMP Securities reissued a “buy” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, August 16th. Maxim Group reissued a “hold” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, August 16th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $128.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, August 16th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $117.60.
Vertex Pharmaceuticals (NASDAQ:VRTX) traded up 1.41% on Wednesday, hitting $81.28. 1,453,807 shares of the company were exchanged. Vertex Pharmaceuticals has a 52-week low of $75.90 and a 52-week high of $134.71. The stock’s market capitalization is $20.14 billion. The stock’s 50-day moving average price is $91.26 and its 200-day moving average price is $89.81.
Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Wednesday, July 27th. The pharmaceutical company reported $0.24 EPS for the quarter, beating the Zacks’ 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 return on equity of 12.34% and a negative net margin of 17.77%. Vertex Pharmaceuticals’s revenue for the quarter was up 159.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.54) earnings per share. On average, equities research analysts anticipate that Vertex Pharmaceuticals will post $0.89 earnings per share for the current fiscal year.
In other news, EVP Stuart A. Arbuckle sold 1,208 shares of the firm’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $86.46, for a total transaction of $104,443.68. Following the sale, the executive vice president now owns 114,566 shares of the company’s stock, valued at approximately $9,905,376.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joshua S. Boger sold 6,500 shares of the firm’s stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $87.44, for a total value of $568,360.00. Following the sale, the director now directly owns 274,725 shares in the company, valued at approximately $24,021,954. The disclosure for this sale can be found here. 1.90% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of the company. Commonwealth Equity Services Inc raised 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 during the period. Virginia Retirement System acquired a new stake in shares of Vertex Pharmaceuticals during the first quarter valued at $317,000. NN Investment Partners Holdings N.V. acquired a new stake in shares of Vertex Pharmaceuticals during the first quarter valued at $2,334,000. Aviva PLC raised its stake in shares of Vertex Pharmaceuticals by 1.1% in the first quarter. Aviva PLC now owns 135,620 shares of the pharmaceutical company’s stock valued at $10,780,000 after buying an additional 1,456 shares during the period. Finally, Credit Agricole S A raised its stake in shares of Vertex Pharmaceuticals by 2.2% in the first quarter. Credit Agricole S A now owns 40,548 shares of the pharmaceutical company’s stock valued at $3,222,000 after buying an additional 857 shares during the period. 96.19% of the stock is currently owned by institutional investors and hedge funds.
Vertex Pharmaceuticals Company Profile
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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