VRTX has been the topic of a number of other research reports. Jefferies Group reaffirmed a buy rating and issued a $107.00 price objective (up previously from $102.00) on shares of Vertex Pharmaceuticals in a research note on Sunday, July 31st. Vetr raised Vertex Pharmaceuticals from a buy rating to a strong-buy rating and set a $94.50 price objective on the stock in a research note on Monday, June 27th. Morgan Stanley reduced their price objective on Vertex Pharmaceuticals from $140.00 to $139.00 and set an overweight rating on the stock in a research note on Thursday, July 28th. JMP Securities reaffirmed a buy rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, August 16th. Finally, Piper Jaffray Cos. reaffirmed a buy rating on shares of Vertex Pharmaceuticals in a research note on Saturday, June 18th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $117.60.
Vertex Pharmaceuticals (NASDAQ:VRTX) traded up 1.16% during mid-day trading on Wednesday, hitting $81.08. The stock had a trading volume of 1,469,632 shares. The stock’s 50-day moving average price is $91.26 and its 200-day moving average price is $89.81. Vertex Pharmaceuticals has a 12 month low of $75.90 and a 12 month high of $134.71. The stock’s market cap is $20.09 billion.
Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Wednesday, July 27th. The pharmaceutical company reported $0.24 EPS for the quarter, topping the Zacks’ 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 company had revenue of $431.61 million for the quarter, compared to analysts’ expectations of $428.08 million. During the same period in the previous year, the firm earned ($0.54) EPS. The firm’s revenue was up 159.9% compared to the same quarter last year. On average, analysts predict that Vertex Pharmaceuticals will post $0.89 earnings per share for the current year.
In other Vertex Pharmaceuticals news, EVP Stuart A. Arbuckle sold 1,208 shares of the stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $86.46, for a total transaction of $104,443.68. Following the transaction, the executive vice president now owns 114,566 shares in the company, valued at $9,905,376.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joshua S. Boger sold 6,500 shares of the stock in a transaction that occurred on Wednesday, October 5th. The stock was sold at an average price of $87.44, for a total value of $568,360.00. Following the transaction, the director now owns 274,725 shares in the company, valued at approximately $24,021,954. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Cleararc Capital Inc. increased its position in shares of Vertex Pharmaceuticals by 0.6% in the first quarter. Cleararc Capital Inc. now owns 6,028 shares of the pharmaceutical company’s stock worth $479,000 after buying an additional 33 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in Vertex Pharmaceuticals by 1.8% in the first quarter. UBS Asset Management Americas Inc. now owns 2,953,715 shares of the pharmaceutical company’s stock valued at $234,790,000 after buying an additional 50,977 shares during the period. Edmond DE Rothschild Holding S.A. boosted its stake in Vertex Pharmaceuticals by 44.8% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 188,514 shares of the pharmaceutical company’s stock valued at $14,985,000 after buying an additional 58,300 shares during the period. Scotia Capital Inc. boosted its stake in Vertex Pharmaceuticals by 243.8% in the first quarter. Scotia Capital Inc. now owns 9,541 shares of the pharmaceutical company’s stock valued at $759,000 after buying an additional 6,766 shares during the period. Finally, Lazard Asset Management LLC boosted its stake in Vertex Pharmaceuticals by 23.1% in the first quarter. Lazard Asset Management LLC now owns 960,230 shares of the pharmaceutical company’s stock valued at $76,327,000 after buying an additional 180,389 shares during the period. Institutional investors own 96.19% of the company’s stock.
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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