Cowen and Company upgraded shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) from a market perform rating to an outperform rating in a research report report published on Wednesday morning.

A number of other equities analysts also recently issued reports on the stock. Barclays PLC upgraded shares of Vertex Pharmaceuticals from an equal weight rating to an overweight rating and increased their price objective for the company from $115.00 to $180.00 in a research note on Wednesday. Vetr upgraded shares of Vertex Pharmaceuticals from a strong sell rating to a strong-buy rating and set a $156.00 price objective on the stock in a research note on Tuesday. Stifel Nicolaus increased their price objective on shares of Vertex Pharmaceuticals from $130.00 to $154.00 and gave the company a buy rating in a research note on Tuesday. Jefferies Group LLC assumed coverage on shares of Vertex Pharmaceuticals in a research note on Monday, July 10th. They set a buy rating and a $155.00 price objective on the stock. Finally, Zacks Investment Research upgraded shares of Vertex Pharmaceuticals from a hold rating to a buy rating and set a $144.00 price objective on the stock in a research note on Tuesday, July 4th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Vertex Pharmaceuticals has a consensus rating of Buy and an average target price of $139.83.

Vertex Pharmaceuticals (NASDAQ VRTX) traded down 0.2510% during trading on Wednesday, hitting $159.2892. 3,593,334 shares of the stock traded hands. Vertex Pharmaceuticals has a 12 month low of $71.46 and a 12 month high of $167.00. The firm has a market cap of $39.67 billion, a PE ratio of 222.1607 and a beta of 1.74. The firm has a 50-day moving average price of $129.31 and a 200 day moving average price of $106.81.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Thursday, April 27th. The pharmaceutical company reported $0.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.09. Vertex Pharmaceuticals had a net margin of 8.64% and a return on equity of 3.00%. The firm had revenue of $714.72 million for the quarter, compared to the consensus estimate of $692.64 million. During the same period last year, the firm earned $0.09 earnings per share. The company’s quarterly revenue was up 79.5% on a year-over-year basis. On average, equities analysts forecast that Vertex Pharmaceuticals will post $1.68 EPS for the current fiscal year.

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In other news, SVP Paul M. Silva sold 2,577 shares of the business’s stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $133.36, for a total value of $343,668.72. Following the sale, the senior vice president now directly owns 22,648 shares of the company’s stock, valued at approximately $3,020,337.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey M. Leiden sold 157,200 shares of the business’s stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $119.50, for a total transaction of $18,785,400.00. Following the completion of the sale, the chief executive officer now directly owns 395,152 shares in the company, valued at $47,220,664. The disclosure for this sale can be found here. Insiders have sold 404,670 shares of company stock worth $50,678,883 over the last ninety days. 1.80% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in the stock. Guardian Life Insurance Co. of America increased its stake in Vertex Pharmaceuticals by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 956 shares of the pharmaceutical company’s stock worth $105,000 after buying an additional 6 shares during the period. Elk Creek Partners LLC increased its stake in Vertex Pharmaceuticals by 0.3% in the first quarter. Elk Creek Partners LLC now owns 3,120 shares of the pharmaceutical company’s stock worth $341,000 after buying an additional 10 shares during the period. Sowell Financial Services LLC increased its stake in Vertex Pharmaceuticals by 0.8% in the first quarter. Sowell Financial Services LLC now owns 2,762 shares of the pharmaceutical company’s stock worth $325,000 after buying an additional 23 shares during the period. Capital Investment Advisory Services LLC increased its stake in Vertex Pharmaceuticals by 0.4% in the first quarter. Capital Investment Advisory Services LLC now owns 6,463 shares of the pharmaceutical company’s stock worth $707,000 after buying an additional 25 shares during the period. Finally, First Manhattan Co. increased its stake in Vertex Pharmaceuticals by 1.3% in the first quarter. First Manhattan Co. now owns 2,356 shares of the pharmaceutical company’s stock worth $205,000 after buying an additional 31 shares during the period. 94.08% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated is engaged in discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company is focused on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs in other indications.

Analyst Recommendations for Vertex Pharmaceuticals (NASDAQ:VRTX)

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