Vertex Pharmaceuticals Inc. (NASDAQ:VRTX)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Robert W. Baird in a research report issued to clients and investors on Tuesday. They presently have a $115.00 target price on the pharmaceutical company’s stock. Robert W. Baird’s target price points to a potential upside of 40.93% from the company’s current price.
VRTX has been the subject of a number of other research reports. Zacks Investment Research lowered Vertex Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 27th. HC Wainwright lowered Vertex Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $155.00 to $85.00 in a research note on Monday, October 24th. Citigroup Inc. initiated coverage on Vertex Pharmaceuticals in a research note on Tuesday, September 13th. They set a “market perform” rating for the company. They noted that the move was a valuation call. BMO Capital Markets reissued a “market perform” rating and set a $88.00 price objective (up previously from $87.00) on shares of Vertex Pharmaceuticals in a research note on Wednesday, October 26th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating on shares of Vertex Pharmaceuticals in a research note on Wednesday, October 5th. Sixteen equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $107.17.
Vertex Pharmaceuticals (NASDAQ:VRTX) opened at 81.61 on Tuesday. Vertex Pharmaceuticals has a one year low of $73.31 and a one year high of $133.41. The company has a 50 day moving average price of $83.91 and a 200-day moving average price of $89.91. The company’s market capitalization is $20.24 billion.
Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Tuesday, October 25th. The pharmaceutical company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by $0.02. Vertex Pharmaceuticals had a negative net margin of 13.45% and a negative return on equity of 5.31%. The business had revenue of $413.78 million for the quarter, compared to the consensus estimate of $423.53 million. During the same quarter in the previous year, the business earned ($0.13) earnings per share. The firm’s revenue was up 33.6% on a year-over-year basis. Analysts expect that Vertex Pharmaceuticals will post $0.78 EPS for the current fiscal year.
In other news, SVP Paul M. Silva sold 5,062 shares of Vertex Pharmaceuticals stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $90.98, for a total transaction of $460,540.76. Following the transaction, the senior vice president now directly owns 17,125 shares of the company’s stock, valued at approximately $1,558,032.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Joshua S. Boger sold 6,500 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $92.37, for a total value of $600,405.00. Following the transaction, the director now directly owns 274,725 shares in the company, valued at $25,376,348.25. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Arizona State Retirement System boosted its position in Vertex Pharmaceuticals by 2.1% in the first quarter. Arizona State Retirement System now owns 66,800 shares of the pharmaceutical company’s stock worth $5,310,000 after buying an additional 1,400 shares during the last quarter. Squarepoint Ops LLC bought a new position in Vertex Pharmaceuticals during the first quarter worth $684,000. BlueMountain Capital Management LLC boosted its position in Vertex Pharmaceuticals by 69.3% in the first quarter. BlueMountain Capital Management LLC now owns 1,867 shares of the pharmaceutical company’s stock worth $148,000 after buying an additional 764 shares during the last quarter. Cullinan Associates Inc. boosted its position in Vertex Pharmaceuticals by 27.1% in the second quarter. Cullinan Associates Inc. now owns 128,010 shares of the pharmaceutical company’s stock worth $11,011,000 after buying an additional 27,323 shares in the last quarter. Finally, DNB Asset Management AS boosted its position in Vertex Pharmaceuticals by 8.2% in the second quarter. DNB Asset Management AS now owns 19,780 shares of the pharmaceutical company’s stock worth $1,701,000 after buying an additional 1,500 shares in the last quarter. 95.39% of the stock is currently owned by hedge funds and other institutional investors.
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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