Vertex Pharmaceuticals Inc. (VRTX) Receives Market Perform Rating from BMO Capital Markets
Vertex Pharmaceuticals Inc. (NASDAQ:VRTX)‘s stock had its “market perform” rating reaffirmed by equities researchers at BMO Capital Markets in a research report issued on Wednesday. They currently have a $88.00 target price on the pharmaceutical company’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 7.84% from the company’s current price.
Other research analysts have also recently issued reports about the stock. RBC Capital Markets reiterated a “buy” rating on shares of Vertex Pharmaceuticals in a report on Saturday, October 1st. Leerink Swann set a $112.00 target price on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a report on Saturday, September 17th. Credit Suisse Group AG set a $110.00 target price on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, September 28th. Zacks Investment Research upgraded shares of Vertex Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Monday, October 31st. Finally, Barclays PLC cut shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $100.00 to $90.00 in a report on Tuesday. Sixteen investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $107.17.
Vertex Pharmaceuticals (NASDAQ:VRTX) traded down 4.72% on Wednesday, hitting $81.61. 2,292,698 shares of the stock traded hands. The company’s market capitalization is $20.24 billion. The firm has a 50-day moving average price of $83.91 and a 200-day moving average price of $89.91. Vertex Pharmaceuticals has a 12 month low of $73.31 and a 12 month high of $133.41.
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 Zacks’ consensus estimate of $0.18 by $0.02. The company earned $413.78 million during the quarter, compared to the consensus estimate of $423.53 million. Vertex Pharmaceuticals had a negative return on equity of 5.31% and a negative net margin of 13.45%. The company’s revenue for the quarter was up 33.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.13) earnings per share. Analysts forecast that Vertex Pharmaceuticals will post $0.78 earnings per share for the current year.
In related news, Director Joshua S. Boger sold 6,500 shares of Vertex Pharmaceuticals stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $86.47, for a total value of $562,055.00. Following the sale, the director now owns 274,725 shares of the company’s stock, valued at approximately $23,755,470.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Stuart A. Arbuckle sold 1,208 shares of Vertex Pharmaceuticals stock in a transaction on Monday, October 3rd. The shares were 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 directly owns 114,566 shares in the company, valued at approximately $9,905,376.36. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in VRTX. 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 worth $102,000 after buying an additional 253 shares in the last quarter. Mycio Wealth Partners LLC boosted its stake 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 worth $105,000 after buying an additional 18 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in Vertex Pharmaceuticals during the third quarter worth about $107,000. Paradigm Asset Management Co. LLC boosted its stake 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 worth $125,000 after buying an additional 249 shares in the last quarter. Finally, Global X Management Co. LLC boosted its stake 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 worth $136,000 after buying an additional 955 shares in the last quarter. 95.39% of the stock is currently 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.
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