Vertex Pharmaceuticals’ (VRTX) Outperform Rating Reaffirmed at Robert W. Baird
Vertex Pharmaceuticals Inc. (NASDAQ:VRTX)‘s stock had its “outperform” rating reissued by investment analysts at Robert W. Baird in a research note issued on Tuesday. They presently have a $115.00 price objective on the pharmaceutical company’s stock. Robert W. Baird’s price target suggests a potential upside of 34.27% from the company’s current price.
Other research analysts have also issued research reports about the company. Stifel Nicolaus reduced their price target on Vertex Pharmaceuticals from $108.00 to $105.00 and set a “buy” rating on the stock in a report on Tuesday, August 16th. Jefferies Group restated a “buy” rating and issued a $107.00 price objective on shares of Vertex Pharmaceuticals in a report on Tuesday, August 16th. RBC Capital Markets restated a “buy” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, August 16th. JMP Securities restated a “buy” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, August 16th. Finally, Leerink Swann set a $112.00 price objective on shares of Vertex Pharmaceuticals and gave the company a “buy” rating in a report on Saturday, September 17th. Sixteen equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Vertex Pharmaceuticals presently has a consensus rating of “Hold” and a consensus price target of $107.17.
Shares of Vertex Pharmaceuticals (NASDAQ:VRTX) traded down 1.44% on Tuesday, reaching $85.65. 1,745,516 shares of the company’s stock traded hands. The firm’s market capitalization is $21.24 billion. Vertex Pharmaceuticals has a 52 week low of $73.31 and a 52 week high of $132.81. The firm’s 50 day moving average is $83.91 and its 200 day moving average is $89.91.
Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Tuesday, October 25th. The pharmaceutical company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.18 by $0.02. Vertex Pharmaceuticals had a negative return on equity of 5.31% and a negative net margin of 13.45%. The company had revenue of $413.78 million for the quarter, compared to analysts’ expectations of $423.53 million. During the same quarter in the prior year, the firm earned ($0.13) EPS. The firm’s revenue was up 33.6% on a year-over-year basis. Analysts expect that Vertex Pharmaceuticals will post $0.78 earnings per share for the current fiscal year.
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In other news, EVP Stuart A. Arbuckle sold 1,208 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $86.46, for a total transaction of $104,443.68. Following the completion of the sale, the executive vice president now owns 114,566 shares in the company, valued at $9,905,376.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joshua S. Boger sold 6,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 31st. The stock was sold at an average price of $94.62, for a total value of $615,030.00. Following the sale, the director now owns 274,725 shares of the company’s stock, valued at approximately $25,994,479.50. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Citizens Financial Group Inc RI boosted its stake in Vertex Pharmaceuticals by 27.0% in the second quarter. Citizens Financial Group Inc RI now owns 1,189 shares of the pharmaceutical company’s stock valued at $102,000 after buying an additional 253 shares during the period. Mycio Wealth Partners LLC boosted its position in 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 last quarter. Meeder Asset Management Inc. acquired a new position in Vertex Pharmaceuticals during the third quarter valued at about $107,000. Paradigm Asset Management Co. LLC boosted its position in Vertex Pharmaceuticals by 20.7% in the second quarter. Paradigm Asset Management Co. LLC now owns 1,450 shares of the pharmaceutical company’s stock valued at $125,000 after buying an additional 249 shares during the last quarter. Finally, Global X Management Co. LLC boosted its position in Vertex Pharmaceuticals by 158.6% in the third quarter. Global X Management Co. LLC now owns 1,557 shares of the pharmaceutical company’s stock valued at $136,000 after buying an additional 955 shares during the last quarter. Institutional investors and hedge funds own 95.39% of the company’s stock.
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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