Vertex Pharmaceuticals Incorporated (VRTX) PT Raised to $181.00
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) had its target price boosted by equities research analysts at Royal Bank Of Canada from $175.00 to $181.00 in a report released on Wednesday. The brokerage presently has an “outperform” rating on the pharmaceutical company’s stock. Royal Bank Of Canada’s price target indicates a potential upside of 17.08% from the stock’s current price.
A number of other analysts have also recently weighed in on the stock. Stifel Nicolaus raised their price target on shares of Vertex Pharmaceuticals from $130.00 to $154.00 and gave the company a “buy” rating in a report on Tuesday, July 18th. Zacks Investment Research upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $144.00 price target on the stock in a report on Tuesday, July 4th. Needham & Company LLC upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $155.00 price target on the stock in a report on Friday, June 23rd. BidaskClub cut shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 28th. Finally, J P Morgan Chase & Co set a $184.00 price target on shares of Vertex Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $167.25.
Vertex Pharmaceuticals (VRTX) traded down 0.42% during midday trading on Wednesday, reaching $153.95. 802,664 shares of the company traded hands. Vertex Pharmaceuticals has a one year low of $71.46 and a one year high of $167.85. The company has a 50 day moving average price of $154.31 and a 200-day moving average price of $137.29. The stock has a market capitalization of $38.81 billion, a P/E ratio of 147.89 and a beta of 1.73.
Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.33. The business had revenue of $544.10 million for the quarter, compared to the consensus estimate of $489.95 million. Vertex Pharmaceuticals had a net margin of 12.05% and a return on equity of 4.64%. The company’s revenue for the quarter was up 26.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.24 EPS. Analysts forecast that Vertex Pharmaceuticals will post $1.62 EPS for the current fiscal year.
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In related news, SVP Paul M. Silva sold 860 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $152.99, for a total value of $131,571.40. Following the completion of the sale, the senior vice president now owns 17,494 shares of the company’s stock, valued at approximately $2,676,407.06. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP David Altshuler sold 1,796 shares of the business’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $160.00, for a total transaction of $287,360.00. Following the completion of the sale, the executive vice president now directly owns 107,807 shares of the company’s stock, valued at approximately $17,249,120. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,748 shares of company stock valued at $6,734,021. Insiders own 1.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of VRTX. Teachers Advisors LLC increased its holdings in Vertex Pharmaceuticals by 48.6% in the 1st quarter. Teachers Advisors LLC now owns 510,373 shares of the pharmaceutical company’s stock worth $55,809,000 after acquiring an additional 166,998 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Vertex Pharmaceuticals by 20.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 21,000 shares of the pharmaceutical company’s stock worth $2,297,000 after acquiring an additional 3,527 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in Vertex Pharmaceuticals in the 1st quarter worth $279,000. Global X Management Co. LLC increased its holdings in Vertex Pharmaceuticals by 24.2% in the 1st quarter. Global X Management Co. LLC now owns 2,748 shares of the pharmaceutical company’s stock worth $300,000 after acquiring an additional 535 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Vertex Pharmaceuticals by 2.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 272,933 shares of the pharmaceutical company’s stock worth $29,842,000 after acquiring an additional 5,496 shares in the last quarter. 92.82% of the stock is owned by institutional investors.
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.
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