Vertex Pharmaceuticals (NASDAQ:VRTX) Earns “Buy” Rating from JPMorgan Chase & Co.
Several other research analysts have also issued reports on the company. Guggenheim upgraded Vertex Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $252.00 price target on the stock in a research report on Tuesday, November 19th. Credit Suisse Group upgraded Vertex Pharmaceuticals to a “buy” rating and set a $231.00 price target on the stock in a research report on Friday, December 13th. Maxim Group restated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, November 1st. BMO Capital Markets raised their price target on Vertex Pharmaceuticals from to in a research report on Thursday, January 9th. Finally, Piper Jaffray Companies raised their price target on Vertex Pharmaceuticals from $247.00 to $284.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $228.54.
Shares of NASDAQ VRTX traded up $0.11 during midday trading on Tuesday, hitting $234.26. The stock had a trading volume of 39,315 shares, compared to its average volume of 1,119,054. The company’s 50-day simple moving average is $221.97 and its 200 day simple moving average is $192.65. The firm has a market cap of $60.21 billion, a P/E ratio of 82.63, a price-to-earnings-growth ratio of 1.33 and a beta of 1.47. Vertex Pharmaceuticals has a fifty-two week low of $163.68 and a fifty-two week high of $234.33. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.44 and a quick ratio of 3.32.
In other Vertex Pharmaceuticals news, CEO Jeffrey M. Leiden sold 107,831 shares of Vertex Pharmaceuticals stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $190.00, for a total transaction of $20,487,890.00. Following the transaction, the chief executive officer now directly owns 178,707 shares in the company, valued at $33,954,330. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Paul M. Silva sold 13,750 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $231.89, for a total value of $3,188,487.50. Following the transaction, the senior vice president now owns 31,509 shares in the company, valued at $7,306,622.01. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 352,148 shares of company stock worth $71,313,185. Corporate insiders own 0.70% of the company’s stock.
Institutional investors have recently modified their holdings of the company. HM Payson & Co. bought a new stake in shares of Vertex Pharmaceuticals in the second quarter valued at about $35,000. Captrust Financial Advisors lifted its holdings in shares of Vertex Pharmaceuticals by 204.1% in the second quarter. Captrust Financial Advisors now owns 222 shares of the pharmaceutical company’s stock valued at $41,000 after purchasing an additional 149 shares in the last quarter. FTB Advisors Inc. lifted its holdings in shares of Vertex Pharmaceuticals by 67.9% in the fourth quarter. FTB Advisors Inc. now owns 235 shares of the pharmaceutical company’s stock valued at $51,000 after purchasing an additional 95 shares in the last quarter. Carroll Financial Associates Inc. lifted its holdings in shares of Vertex Pharmaceuticals by 23.5% in the fourth quarter. Carroll Financial Associates Inc. now owns 263 shares of the pharmaceutical company’s stock valued at $57,000 after purchasing an additional 50 shares in the last quarter. Finally, Venturi Wealth Management LLC bought a new stake in shares of Vertex Pharmaceuticals in the third quarter valued at about $45,000. Institutional investors own 94.85% of the company’s stock.
About Vertex Pharmaceuticals
Vertex Pharmaceuticals Incorporated engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene.
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