Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) – Equities research analysts at Leerink Swann reduced their FY2017 earnings per share estimates for shares of Vertex Pharmaceuticals in a research report issued on Friday. Leerink Swann analyst G. Porges now anticipates that the firm will post earnings per share of $1.73 for the year, down from their prior estimate of $1.95. Leerink Swann has a “Outperform” rating on the stock.
VRTX has been the subject of several other research reports. Zacks Investment Research cut shares of Vertex Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 27th. Maxim Group reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Thursday, September 29th. Cowen and Company reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Thursday, July 28th. BMO Capital Markets reissued a “hold” rating and set a $87.00 price target on shares of Vertex Pharmaceuticals in a research report on Thursday, September 15th. Finally, Stifel Nicolaus dropped their price target on shares of Vertex Pharmaceuticals from $108.00 to $105.00 and set a “buy” rating for the company in a research report on Tuesday, August 16th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $117.60.
Shares of Vertex Pharmaceuticals (NASDAQ:VRTX) traded down 2.62% on Monday, hitting $83.73. 243,792 shares of the stock were exchanged. Vertex Pharmaceuticals has a 12 month low of $75.90 and a 12 month high of $134.71. The company’s market cap is $20.75 billion. The company has a 50-day moving average price of $92.40 and a 200 day moving average price of $89.94.
Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Wednesday, July 27th. The pharmaceutical company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. The firm earned $431.61 million during the quarter, compared to analysts’ expectations of $428.08 million. Vertex Pharmaceuticals had a negative net margin of 17.77% and a negative return on equity of 12.34%. The business’s revenue was up 159.9% on a year-over-year basis. During the same period last year, the company earned ($0.54) earnings per share.
Hedge funds have recently made changes to their positions in the stock. FMR LLC increased its stake in shares of Vertex Pharmaceuticals by 46.9% in the second quarter. FMR LLC now owns 22,227,104 shares of the pharmaceutical company’s stock worth $1,911,975,000 after buying an additional 7,092,351 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Vertex Pharmaceuticals by 182.2% in the second quarter. Jennison Associates LLC now owns 2,974,800 shares of the pharmaceutical company’s stock worth $255,892,000 after buying an additional 1,920,658 shares during the last quarter. TimesSquare Capital Management LLC bought a new stake in shares of Vertex Pharmaceuticals during the second quarter worth about $61,066,000. Eaton Vance Management increased its stake in shares of Vertex Pharmaceuticals by 142.8% in the second quarter. Eaton Vance Management now owns 994,957 shares of the pharmaceutical company’s stock worth $85,586,000 after buying an additional 585,172 shares during the last quarter. Finally, Pictet Asset Management Ltd. increased its stake in shares of Vertex Pharmaceuticals by 181.5% in the second quarter. Pictet Asset Management Ltd. now owns 814,519 shares of the pharmaceutical company’s stock worth $75,872,000 after buying an additional 525,199 shares during the last quarter. 96.19% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Joshua S. Boger sold 6,500 shares of the firm’s stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $90.33, for a total transaction of $587,145.00. Following the sale, the director now owns 274,725 shares of the company’s stock, valued at approximately $24,815,909.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Stuart A. Arbuckle sold 1,208 shares of the firm’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $86.46, for a total transaction of $104,443.68. Following the sale, the executive vice president now directly owns 114,566 shares in the company, valued at approximately $9,905,376.36. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.
About Vertex Pharmaceuticals
Vertex Pharmaceuticals Incorporated is engaged in the business of discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company operates in pharmaceuticals segment. Its business 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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