Other research analysts have also recently issued research reports about the stock. Leerink Swann lifted their price target on shares of Vertex Pharmaceuticals from $186.00 to $203.00 and gave the stock a market perform rating in a research note on Tuesday, October 22nd. Maxim Group reiterated a hold rating on shares of Vertex Pharmaceuticals in a research note on Friday, November 1st. Citigroup lifted their price target on shares of Vertex Pharmaceuticals from $205.00 to $225.00 and gave the stock a buy rating in a research note on Tuesday, October 22nd. SunTrust Banks began coverage on shares of Vertex Pharmaceuticals in a research note on Tuesday, November 12th. They set a buy rating and a $235.00 price target on the stock. Finally, Bank of America began coverage on shares of Vertex Pharmaceuticals in a research report on Wednesday, October 16th. They set a buy rating and a $220.00 price objective on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have given a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $228.54.
Shares of NASDAQ VRTX traded down $1.51 on Tuesday, reaching $233.99. 14,865 shares of the company’s stock traded hands, compared to its average volume of 1,355,173. Vertex Pharmaceuticals has a 12 month low of $163.68 and a 12 month high of $235.78. The business’s 50 day simple moving average is $222.27 and its two-hundred day simple moving average is $192.92. The company has a market cap of $60.56 billion, a price-to-earnings ratio of 82.57, a price-to-earnings-growth ratio of 1.33 and a beta of 1.47. The company has a quick ratio of 3.32, a current ratio of 3.44 and a debt-to-equity ratio of 0.12.
Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Wednesday, October 30th. The pharmaceutical company reported $1.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.36. The firm had revenue of $949.83 million for the quarter, compared to analysts’ expectations of $942.90 million. Vertex Pharmaceuticals had a net margin of 59.24% and a return on equity of 20.33%. The business’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.09 earnings per share. Analysts forecast that Vertex Pharmaceuticals will post 3.72 earnings per share for the current fiscal year.
In related news, SVP Ourania Tatsis sold 2,853 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $205.59, for a total transaction of $586,548.27. Following the completion of the transaction, the senior vice president now owns 10,105 shares in the company, valued at approximately $2,077,486.95. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Amit Sachdev sold 3,883 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $190.27, for a total transaction of $738,818.41. Following the transaction, the executive vice president now owns 37,299 shares of the company’s stock, valued at approximately $7,096,880.73. The disclosure for this sale can be found here. In the last quarter, insiders have sold 352,148 shares of company stock valued at $71,313,185. 0.70% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of VRTX. Nuveen Asset Management LLC raised its stake in shares of Vertex Pharmaceuticals by 14,936.8% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,307,403 shares of the pharmaceutical company’s stock worth $423,131,000 after acquiring an additional 2,292,058 shares in the last quarter. BlackRock Inc. increased its stake in Vertex Pharmaceuticals by 2.6% during the 2nd quarter. BlackRock Inc. now owns 20,708,669 shares of the pharmaceutical company’s stock valued at $3,797,554,000 after purchasing an additional 532,371 shares in the last quarter. Senator Investment Group LP acquired a new position in Vertex Pharmaceuticals during the 2nd quarter valued at approximately $82,521,000. Invesco Ltd. increased its stake in Vertex Pharmaceuticals by 9.0% during the 2nd quarter. Invesco Ltd. now owns 4,063,908 shares of the pharmaceutical company’s stock valued at $745,238,000 after purchasing an additional 335,938 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Vertex Pharmaceuticals by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 19,661,800 shares of the pharmaceutical company’s stock valued at $3,605,582,000 after purchasing an additional 180,239 shares in the last quarter. Hedge funds and other institutional investors own 94.85% of the company’s stock.
Vertex Pharmaceuticals Company Profile
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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