Several other research firms also recently commented on VRTX. Jefferies Group reaffirmed a buy rating and issued a $107.00 price target (up previously from $102.00) on shares of Vertex Pharmaceuticals in a research note on Sunday, July 31st. Vetr raised shares of Vertex Pharmaceuticals from a buy rating to a strong-buy rating and set a $94.50 price target on the stock in a research note on Monday, June 27th. Morgan Stanley reduced their price target on shares of 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 assigned a strong buy rating to the stock. The company has an average rating of Buy and an average price target of $117.60.
Vertex Pharmaceuticals (NASDAQ:VRTX) opened at 86.79 on Thursday. Vertex Pharmaceuticals has a 1-year low of $75.90 and a 1-year high of $134.71. The firm has a 50-day moving average of $94.37 and a 200-day moving average of $89.82. The stock’s market capitalization is $21.50 billion.
Vertex Pharmaceuticals (NASDAQ:VRTX) last released its 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. The firm earned $431.61 million during the quarter, compared to analyst estimates of $428.08 million. Vertex Pharmaceuticals had a negative net margin of 17.77% and a negative return on equity of 12.34%. The business’s revenue was up 159.9% on a year-over-year basis. During the same quarter last year, the business earned ($0.54) EPS. Equities analysts expect that Vertex Pharmaceuticals will post $0.90 EPS for the current fiscal year.
In other Vertex Pharmaceuticals news, Director Joshua S. Boger sold 6,500 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $88.15, for a total transaction of $572,975.00. Following the completion of the sale, the director now directly owns 274,725 shares in the company, valued at approximately $24,217,008.75. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Joshua S. Boger sold 1,100 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $100.79, for a total transaction of $110,869.00. Following the sale, the director now owns 268,225 shares of the company’s stock, valued at $27,034,397.75. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in VRTX. FMR LLC boosted its stake in shares of 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 last quarter. Jennison Associates LLC boosted its stake in shares of 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 last quarter. TimesSquare Capital Management LLC acquired a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at approximately $61,066,000. Eaton Vance Management boosted its stake in shares of 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 last quarter. Finally, Pictet Asset Management Ltd. boosted its stake in shares of 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 last quarter. Institutional investors and hedge funds 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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