Vertex Pharmaceuticals (VRTX) Upgraded to “Hold” at BidaskClub

Vertex Pharmaceuticals (NASDAQ:VRTX) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

VRTX has been the topic of a number of other research reports. Zacks Investment Research cut shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, September 11th. Stifel Nicolaus increased their target price on shares of Vertex Pharmaceuticals from $182.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, August 7th. Citigroup increased their target price on shares of Vertex Pharmaceuticals from $203.00 to $206.00 and gave the company a “buy” rating in a research report on Monday, July 30th. Argus increased their target price on shares of Vertex Pharmaceuticals to $200.00 and gave the company an “average” rating in a research report on Tuesday, August 28th. They noted that the move was a valuation call. Finally, ValuEngine upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, June 2nd. Five analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. Vertex Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $196.52.

VRTX stock opened at $186.65 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.55 and a current ratio of 3.67. Vertex Pharmaceuticals has a fifty-two week low of $136.50 and a fifty-two week high of $189.29. The stock has a market capitalization of $46.68 billion, a P/E ratio of 106.19, a PEG ratio of 1.86 and a beta of 1.46.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Wednesday, July 25th. The pharmaceutical company reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.54. Vertex Pharmaceuticals had a net margin of 15.84% and a return on equity of 19.86%. The business had revenue of $752.20 million for the quarter, compared to analysts’ expectations of $680.86 million. During the same quarter last year, the company earned $0.39 EPS. The company’s revenue for the quarter was up 38.2% compared to the same quarter last year. research analysts forecast that Vertex Pharmaceuticals will post 2.48 earnings per share for the current fiscal year.

In other news, SVP Paul M. Silva sold 860 shares of the firm’s stock in a transaction dated Thursday, July 12th. The shares were sold at an average price of $175.02, for a total transaction of $150,517.20. Following the completion of the transaction, the senior vice president now owns 16,947 shares in the company, valued at approximately $2,966,063.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Paul M. Silva sold 2,957 shares of the firm’s stock in a transaction dated Friday, June 29th. The shares were sold at an average price of $166.52, for a total transaction of $492,399.64. Following the transaction, the senior vice president now owns 16,946 shares of the company’s stock, valued at approximately $2,821,847.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,329 shares of company stock valued at $10,502,221. Insiders own 1.80% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Royal London Asset Management Ltd. bought a new position in shares of Vertex Pharmaceuticals during the 2nd quarter valued at about $17,866,000. HRT Financial LLC boosted its position in shares of Vertex Pharmaceuticals by 178.9% during the 2nd quarter. HRT Financial LLC now owns 5,368 shares of the pharmaceutical company’s stock valued at $912,000 after purchasing an additional 3,443 shares in the last quarter. Schroder Investment Management Group boosted its position in shares of Vertex Pharmaceuticals by 7.3% during the 2nd quarter. Schroder Investment Management Group now owns 27,309 shares of the pharmaceutical company’s stock valued at $4,031,000 after purchasing an additional 1,849 shares in the last quarter. Bain Capital Public Equity Management LLC boosted its position in shares of Vertex Pharmaceuticals by 168.8% during the 2nd quarter. Bain Capital Public Equity Management LLC now owns 241,408 shares of the pharmaceutical company’s stock valued at $41,030,000 after purchasing an additional 151,614 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its position in shares of Vertex Pharmaceuticals by 21.1% during the 2nd quarter. Advisors Asset Management Inc. now owns 15,434 shares of the pharmaceutical company’s stock valued at $2,623,000 after purchasing an additional 2,694 shares in the last quarter. Institutional investors own 93.43% of the company’s stock.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, develops medicines for serious diseases. The company focuses on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs. It markets ORKAMBI (lumacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are homozygous for the F508del mutation in their cystic fibrosis transmembrane conductance regulator (CFTR) gene; KALYDECO (ivacaftor) for the treatment of patients with CF who have specific mutations in their CFTR gene, including the G551D mutation; and SYMDEKO (tezacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are F508del homozygous or who have 1 mutation that is responsive to tezacaftor/ivacaftor.

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Analyst Recommendations for Vertex Pharmaceuticals (NASDAQ:VRTX)

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