Vertex Pharmaceuticals (NASDAQ:VRTX) Given New $285.00 Price Target at Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price target cut by equities researchers at Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell from $325.00 to $285.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the pharmaceutical company’s stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell’s price objective suggests a potential upside of 31.48% from the stock’s current price.

A number of other research firms also recently commented on VRTX. Daiwa Capital Markets downgraded Vertex Pharmaceuticals from an “outperform” rating to a “neutral” rating and set a $210.00 price objective on the stock. in a report on Friday. Royal Bank of Canada reduced their price target on Vertex Pharmaceuticals from $262.00 to $242.00 and set an “outperform” rating for the company in a report on Friday. Barclays reduced their price target on Vertex Pharmaceuticals from $302.00 to $285.00 and set an “overweight” rating for the company in a report on Friday. Cantor Fitzgerald dropped their price objective on Vertex Pharmaceuticals from $285.00 to $281.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Robert W. Baird dropped their price objective on Vertex Pharmaceuticals from $252.00 to $240.00 and set an “outperform” rating for the company in a research note on Friday. They noted that the move was a valuation call. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Vertex Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $278.32.

Shares of VRTX stock opened at $216.77 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.39 and a quick ratio of 4.24. Vertex Pharmaceuticals has a 52 week low of $202.57 and a 52 week high of $306.08. The stock has a market cap of $56.11 billion, a PE ratio of 20.64, a PEG ratio of 1.89 and a beta of 0.68. The firm has a 50 day simple moving average of $213.96.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Thursday, April 29th. The pharmaceutical company reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.60. Vertex Pharmaceuticals had a return on equity of 29.61% and a net margin of 43.06%. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.66 billion. On average, sell-side analysts predict that Vertex Pharmaceuticals will post 9.42 earnings per share for the current fiscal year.

In other news, EVP Amit Sachdev sold 3,884 shares of the firm’s stock in a transaction that occurred on Tuesday, April 27th. The shares were sold at an average price of $216.06, for a total transaction of $839,177.04. Following the completion of the sale, the executive vice president now owns 44,017 shares of the company’s stock, valued at $9,510,313.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sangeeta N. Bhatia sold 559 shares of the firm’s stock in a transaction that occurred on Wednesday, June 2nd. The stock was sold at an average price of $209.69, for a total transaction of $117,216.71. Following the sale, the director now directly owns 5,465 shares of the company’s stock, valued at approximately $1,145,955.85. The disclosure for this sale can be found here. Insiders have sold 7,089 shares of company stock valued at $1,527,127 in the last three months. Corporate insiders own 0.30% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Carroll Financial Associates Inc. lifted its stake in Vertex Pharmaceuticals by 13.1% during the first quarter. Carroll Financial Associates Inc. now owns 414 shares of the pharmaceutical company’s stock worth $88,000 after purchasing an additional 48 shares during the last quarter. Michael B. Yongue lifted its stake in Vertex Pharmaceuticals by 6.0% in the fourth quarter. Michael B. Yongue now owns 868 shares of the pharmaceutical company’s stock valued at $205,000 after buying an additional 49 shares during the last quarter. Selective Wealth Management Inc. lifted its stake in Vertex Pharmaceuticals by 50.0% in the first quarter. Selective Wealth Management Inc. now owns 150 shares of the pharmaceutical company’s stock valued at $32,000 after buying an additional 50 shares during the last quarter. Hillsdale Investment Management Inc. lifted its stake in Vertex Pharmaceuticals by 2.5% in the first quarter. Hillsdale Investment Management Inc. now owns 2,015 shares of the pharmaceutical company’s stock valued at $433,000 after buying an additional 50 shares during the last quarter. Finally, CWM LLC lifted its stake in Vertex Pharmaceuticals by 8.1% in the first quarter. CWM LLC now owns 680 shares of the pharmaceutical company’s stock valued at $146,000 after buying an additional 51 shares during the last quarter. Hedge funds and other institutional investors own 90.06% of the company’s stock.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals, Inc is a global biotechnology company. It engages in the business of discovering, developing, manufacturing and commercializing small molecule drugs for patients with serious diseases. The firm focuses on development and commercializing therapies for the treatment of cystic fibrosis, infectious diseases including viral infections such as influenza and bacterial infections, autoimmune diseases such as rheumatoid arthritis, cancer, inflammatory bowel disease and neurological disorders including pain and multiple sclerosis.

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Analyst Recommendations for Vertex Pharmaceuticals (NASDAQ:VRTX)

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