Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) – Jefferies Group decreased their Q3 2016 earnings per share (EPS) estimates for Vertex Pharmaceuticals in a report released on Wednesday. Jefferies Group analyst B. Abrahams now forecasts that the firm will earn ($0.09) per share for the quarter, down from their previous forecast of ($0.01). Jefferies Group currently has a “Buy” rating and a $104.00 target price on the stock. Jefferies Group also issued estimates for Vertex Pharmaceuticals’ Q4 2016 earnings at $0.02 EPS, FY2016 earnings at ($0.22) EPS and FY2017 earnings at $1.14 EPS.
Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Wednesday, July 27th. The pharmaceutical company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.21 by $0.03. Vertex Pharmaceuticals had a negative net margin of 17.77% and a negative return on equity of 12.34%. The business earned $431.61 million during the quarter, compared to the consensus estimate of $428.08 million. During the same period in the previous year, the business earned ($0.54) earnings per share. The company’s revenue was up 159.9% on a year-over-year basis.
VRTX has been the subject of a number of other reports. Zacks Investment Research downgraded 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. 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 target price on shares of Vertex Pharmaceuticals in a research report on Thursday, September 15th. Finally, Stifel Nicolaus reduced their target price 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 equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $117.60.
Vertex Pharmaceuticals (NASDAQ:VRTX) opened at 87.21 on Monday. Vertex Pharmaceuticals has a 12 month low of $75.90 and a 12 month high of $134.71. The firm’s market capitalization is $21.61 billion. The firm’s 50-day moving average is $94.79 and its 200 day moving average is $89.64.
In other news, Director Joshua S. Boger sold 47,000 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $100.66, for a total transaction of $4,731,020.00. Following the sale, the director now owns 274,725 shares of the company’s stock, valued at approximately $27,653,818.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joshua S. Boger sold 5,140 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, July 6th. The shares were sold at an average price of $88.99, for a total transaction of $457,408.60. Following the sale, the director now directly owns 273,365 shares in the company, valued at approximately $24,326,751.35. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.
Several large investors have recently made changes to their positions in VRTX. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Vertex Pharmaceuticals during the second quarter worth $859,000. Kentucky Retirement Systems acquired a new stake in Vertex Pharmaceuticals during the second quarter valued at approximately $1,809,000. Northwestern Mutual Investment Management Company LLC raised its stake in Vertex Pharmaceuticals by 0.3% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 9,435 shares of the pharmaceutical company’s stock valued at $812,000 after buying an additional 28 shares during the last quarter. Mason Street Advisors LLC acquired a new stake in Vertex Pharmaceuticals during the second quarter valued at approximately $2,866,000. Finally, Public Employees Retirement System of Ohio raised its stake in Vertex Pharmaceuticals by 1.3% in the second quarter. Public Employees Retirement System of Ohio now owns 167,562 shares of the pharmaceutical company’s stock valued at $14,414,000 after buying an additional 2,160 shares during the last quarter. 96.19% of the stock is currently owned by hedge funds and other institutional investors.
Vertex Pharmaceuticals Company Profile
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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