Research analysts at Janney Montgomery Scott initiated coverage on shares of Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) in a research note issued to investors on Thursday. The firm set a “neutral” rating and a $98.00 price target on the pharmaceutical company’s stock. Janney Montgomery Scott’s price target would indicate a potential upside of 9.57% from the stock’s previous close.

VRTX has been the topic of a number of other reports. Stifel Nicolaus reissued a “buy” rating and issued a $108.00 price objective (down from $109.00) on shares of Vertex Pharmaceuticals in a research note on Friday, October 28th. Zacks Investment Research cut shares of Vertex Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 27th. Maxim Group reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Thursday, September 29th. Vetr cut shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $87.67 target price on the stock. in a research note on Monday, November 7th. Finally, Cowen and Company reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Thursday, July 28th. Sixteen investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $108.13.

Analyst Recommendations for Vertex Pharmaceuticals (NASDAQ:VRTX)

Shares of Vertex Pharmaceuticals (NASDAQ:VRTX) opened at 89.44 on Thursday. Vertex Pharmaceuticals has a 52-week low of $73.31 and a 52-week high of $134.71. The company’s market cap is $22.18 billion. The company has a 50 day moving average of $83.68 and a 200-day moving average of $89.69.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Tuesday, October 25th. The pharmaceutical company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by $0.02. The firm earned $413.78 million during the quarter, compared to the consensus estimate of $423.53 million. Vertex Pharmaceuticals had a negative net margin of 13.45% and a negative return on equity of 5.31%. The business’s revenue was up 33.6% compared to the same quarter last year. During the same period last year, the business earned ($0.13) earnings per share. Analysts forecast that Vertex Pharmaceuticals will post $0.78 EPS for the current fiscal year.

In other news, Director Joshua S. Boger sold 7,500 shares of the stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $100.46, for a total transaction of $753,450.00. Following the completion of the transaction, the director now directly owns 274,725 shares of the company’s stock, valued at approximately $27,598,873.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joshua S. Boger sold 6,500 shares of the stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $95.66, for a total transaction of $621,790.00. Following the transaction, the director now directly owns 274,725 shares of the company’s stock, valued at $26,280,193.50. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VRTX. AMP Capital Investors Ltd increased its position in Vertex Pharmaceuticals by 0.6% in the first quarter. AMP Capital Investors Ltd now owns 99,879 shares of the pharmaceutical company’s stock worth $7,831,000 after buying an additional 549 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Vertex Pharmaceuticals by 2.1% in the first quarter. Arizona State Retirement System now owns 66,800 shares of the pharmaceutical company’s stock worth $5,310,000 after buying an additional 1,400 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Vertex Pharmaceuticals during the first quarter worth approximately $684,000. BlueMountain Capital Management LLC boosted its stake in shares of Vertex Pharmaceuticals by 69.3% in the first quarter. BlueMountain Capital Management LLC now owns 1,867 shares of the pharmaceutical company’s stock worth $148,000 after buying an additional 764 shares during the last quarter. Finally, Sector Gamma AS boosted its stake in shares of Vertex Pharmaceuticals by 78.5% in the first quarter. Sector Gamma AS now owns 208,243 shares of the pharmaceutical company’s stock worth $16,553,000 after buying an additional 91,610 shares during the last quarter. 96.20% of the stock is owned by hedge funds and other institutional investors.

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.

5 Day Chart for NASDAQ:VRTX

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