Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) was upgraded by stock analysts at Vetr from a “sell” rating to a “hold” rating in a report released on Monday. The firm presently has a $87.67 price objective on the pharmaceutical company’s stock. Vetr‘s price objective indicates a potential upside of 1.71% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Citigroup Inc. started coverage on Vertex Pharmaceuticals in a research note on Tuesday, September 13th. They issued a “market perform” rating for the company. They noted that the move was a valuation call. Raymond James Financial Inc. started coverage on Vertex Pharmaceuticals in a research note on Tuesday, September 13th. They issued a “market perform” rating for the company. Zacks Investment Research lowered Vertex Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 27th. Jefferies Group restated a “buy” rating and issued a $105.00 price objective on shares of Vertex Pharmaceuticals in a research note on Friday, October 21st. Finally, JPMorgan Chase & Co. restated an “overweight” rating on shares of Vertex Pharmaceuticals in a research note on Wednesday, October 5th. Sixteen investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Vertex Pharmaceuticals has an average rating of “Hold” and a consensus target price of $108.13.

Analyst Recommendations for Vertex Pharmaceuticals (NASDAQ:VRTX)

Shares of Vertex Pharmaceuticals (NASDAQ:VRTX) opened at 86.20 on Monday. Vertex Pharmaceuticals has a 1-year low of $73.31 and a 1-year high of $134.23. The company’s 50-day moving average price is $83.88 and its 200 day moving average price is $89.85. The company’s market cap is $21.38 billion.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Tuesday, October 25th. The pharmaceutical company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by $0.02. The company had revenue of $413.78 million for the quarter, compared to analysts’ expectations of $423.53 million. Vertex Pharmaceuticals had a negative net margin of 13.45% and a negative return on equity of 5.31%. Vertex Pharmaceuticals’s quarterly revenue was up 33.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.13) earnings per share. On average, analysts predict that Vertex Pharmaceuticals will post $0.78 earnings per share for the current fiscal year.

In other Vertex Pharmaceuticals news, EVP Stuart A. Arbuckle sold 1,208 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $86.46, for a total value of $104,443.68. Following the completion of the sale, the executive vice president now directly owns 114,566 shares in the company, valued at $9,905,376.36. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Joshua S. Boger sold 6,500 shares of the firm’s 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 completion of the sale, the director now owns 274,725 shares of the company’s stock, valued at $26,280,193.50. 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 made changes to their positions in the stock. Mycio Wealth Partners LLC increased its stake in shares of Vertex Pharmaceuticals by 1.5% in the second quarter. Mycio Wealth Partners LLC now owns 1,218 shares of the pharmaceutical company’s stock valued at $105,000 after buying an additional 18 shares during the period. Conning Inc. increased its stake in shares of Vertex Pharmaceuticals by 0.3% in the second quarter. Conning Inc. now owns 5,740 shares of the pharmaceutical company’s stock valued at $494,000 after buying an additional 20 shares during the period. Municipal Employees Retirement System of Michigan increased its stake in shares of Vertex Pharmaceuticals by 0.3% in the third quarter. Municipal Employees Retirement System of Michigan now owns 7,820 shares of the pharmaceutical company’s stock valued at $682,000 after buying an additional 20 shares during the period. Northwestern Mutual Investment Management Company LLC increased its stake in shares of Vertex Pharmaceuticals by 0.3% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 9,435 shares of the pharmaceutical company’s stock valued at $812,000 after buying an additional 28 shares during the period. Finally, Fisher Asset Management LLC increased its stake in shares of Vertex Pharmaceuticals by 1.1% in the third quarter. Fisher Asset Management LLC now owns 5,168 shares of the pharmaceutical company’s stock valued at $451,000 after buying an additional 56 shares during the period. Institutional investors own 95.48% of the company’s stock.

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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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