Jefferies Group reaffirmed their buy rating on shares of Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) in a report released on Wednesday morning. Jefferies Group currently has a $104.00 target price on the pharmaceutical company’s stock.
Several other research analysts have also recently weighed in on VRTX. Zacks Investment Research cut 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 issued a $87.00 price objective on shares of Vertex Pharmaceuticals in a research report on Thursday, September 15th. Finally, Stifel Nicolaus cut their price objective on Vertex Pharmaceuticals from $108.00 to $105.00 and set a buy rating on the stock in a research report on Tuesday, August 16th. One equities 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’s stock. Vertex Pharmaceuticals presently has a consensus rating of Buy and a consensus target price of $117.60.
Vertex Pharmaceuticals (NASDAQ:VRTX) traded up 0.31% on Wednesday, reaching $80.40. The company’s stock had a trading volume of 246,216 shares. The firm’s market cap is $19.92 billion. The firm has a 50 day moving average of $91.26 and a 200 day moving average of $89.81. Vertex Pharmaceuticals has a 12 month low of $75.90 and a 12 month high of $134.71.
Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Wednesday, July 27th. The pharmaceutical company reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 quarter in the prior year, the company posted ($0.54) earnings per share. Vertex Pharmaceuticals’s revenue was up 159.9% compared to the same quarter last year. Analysts anticipate that Vertex Pharmaceuticals will post $0.89 earnings per share for the current year.
In related news, Director Joshua S. Boger sold 6,500 shares of the stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $90.33, for a total transaction of $587,145.00. Following the completion of the sale, the director now directly owns 274,725 shares in the company, valued at approximately $24,815,909.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joshua S. Boger sold 7,100 shares of the stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $100.24, for a total value of $711,704.00. Following the sale, the director now owns 274,725 shares of the company’s stock, valued at $27,538,434. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.
A number of large investors have recently modified their holdings of VRTX. FMR LLC boosted its stake in Vertex Pharmaceuticals by 46.9% in the second quarter. FMR LLC now owns 22,227,104 shares of the pharmaceutical company’s stock valued at $1,911,975,000 after buying an additional 7,092,351 shares during the period. Jennison Associates LLC boosted its stake in Vertex Pharmaceuticals by 182.2% in the second quarter. Jennison Associates LLC now owns 2,974,800 shares of the pharmaceutical company’s stock valued at $255,892,000 after buying an additional 1,920,658 shares during the period. TimesSquare Capital Management LLC acquired a new stake in Vertex Pharmaceuticals during the second quarter valued at $61,066,000. Eaton Vance Management boosted its stake in Vertex Pharmaceuticals by 142.8% in the second quarter. Eaton Vance Management now owns 994,957 shares of the pharmaceutical company’s stock valued at $85,586,000 after buying an additional 585,172 shares during the period. Finally, Pictet Asset Management Ltd. boosted its stake in Vertex Pharmaceuticals by 181.5% in the second quarter. Pictet Asset Management Ltd. now owns 814,519 shares of the pharmaceutical company’s stock valued at $75,872,000 after buying an additional 525,199 shares during the period. Institutional investors own 96.19% 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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