Vertex Pharmaceuticals Inc. (NASDAQ:VRTX)‘s stock had its “neutral” rating restated by stock analysts at Robert W. Baird in a note issued to investors on Friday. They currently have a $115.00 target price on the pharmaceutical company’s stock, down from their previous target price of $128.00. Robert W. Baird’s price target would indicate a potential upside of 32.49% from the stock’s previous close.
VRTX has been the subject of a number of other reports. Citigroup Inc. started coverage on Vertex Pharmaceuticals in a research note on Tuesday, September 13th. They issued a “market perform” rating for the company. They noted that the move was a valuation call. Raymond James Financial Inc. started coverage on Vertex Pharmaceuticals in a research note on Tuesday, September 13th. They issued a “market perform” rating for the company. Zacks Investment Research downgraded Vertex Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 27th. Jefferies Group reaffirmed a “buy” rating and issued a $107.00 target price on shares of Vertex Pharmaceuticals in a research note on Thursday, September 15th. Finally, Credit Suisse Group AG reissued a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Thursday, June 16th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Vertex Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $117.60.
Shares of Vertex Pharmaceuticals (NASDAQ:VRTX) opened at 86.79 on Friday. The stock’s 50 day moving average is $94.37 and its 200-day moving average is $89.82. Vertex Pharmaceuticals has a one year low of $75.90 and a one year high of $134.71. The stock’s market cap is $21.50 billion.
Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Wednesday, July 27th. The pharmaceutical company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.03. Vertex Pharmaceuticals had a negative return on equity of 12.34% and a negative net margin of 17.77%. The business earned $431.61 million during the quarter, compared to the consensus estimate of $428.08 million. During the same period last year, the company earned ($0.54) EPS. The company’s revenue for the quarter was up 159.9% on a year-over-year basis. On average, equities analysts forecast that Vertex Pharmaceuticals will post $0.90 EPS for the current year.
In other news, Director Joshua S. Boger sold 900 shares of the firm’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $100.19, for a total transaction of $90,171.00. Following the sale, the director now owns 268,225 shares of the company’s stock, valued at approximately $26,873,462.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joshua S. Boger sold 5,140 shares of the firm’s stock in a transaction dated Wednesday, July 6th. The stock was sold at an average price of $88.99, for a total value 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.
Large investors have recently modified their holdings of the company. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at $859,000. Kentucky Retirement Systems acquired a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at $1,809,000. Northwestern Mutual Investment Management Company LLC raised its stake in shares of 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 period. Mason Street Advisors LLC purchased a new position in Vertex Pharmaceuticals during the second quarter valued at approximately $2,866,000. Finally, Public Employees Retirement System of Ohio raised its position 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 period. 96.19% of the stock is currently owned by institutional investors and hedge funds.
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.
Receive News & Ratings for Vertex Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vertex Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.