Vertex Pharmaceuticals Inc. (NASDAQ:VRTX)‘s stock had its “hold” rating restated by investment analysts at Maxim Group in a research report issued on Thursday.
A number of other research analysts also recently weighed in on VRTX. Vetr upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $94.38 price objective on the stock in a research report on Monday, June 13th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a report on Thursday, June 16th. Jefferies Group reaffirmed a “buy” rating and set a $103.00 target price on shares of Vertex Pharmaceuticals in a report on Friday, June 17th. Piper Jaffray Cos. reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a report on Saturday, June 18th. Finally, Zacks Investment Research raised shares of Vertex Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 29th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $117.60.
Shares of Vertex Pharmaceuticals (NASDAQ:VRTX) opened at 87.21 on Thursday. The company’s market capitalization is $21.61 billion. Vertex Pharmaceuticals has a 12-month low of $75.90 and a 12-month high of $134.71. The stock’s 50 day moving average is $94.79 and its 200-day moving average is $89.64.
Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Wednesday, July 27th. The pharmaceutical company reported $0.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.03. The company had revenue of $431.61 million for the quarter, compared to the consensus estimate of $428.08 million. Vertex Pharmaceuticals had a negative net margin of 17.77% and a negative return on equity of 12.34%. The firm’s revenue for the quarter was up 159.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.54) earnings per share. Analysts anticipate that Vertex Pharmaceuticals will post $0.90 earnings per share for the current year.
In other Vertex Pharmaceuticals news, Director Joshua S. Boger sold 6,500 shares of the firm’s stock in a transaction dated Wednesday, September 28th. The shares were sold at an average price of $88.15, for a total transaction of $572,975.00. Following the transaction, the director now owns 274,725 shares of the company’s stock, valued at approximately $24,217,008.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joshua S. Boger sold 5,140 shares of the firm’s stock in a transaction dated Wednesday, July 6th. The shares were sold at an average price of $88.99, for a total transaction of $457,408.60. Following the transaction, 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. 1.90% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of VRTX. Samlyn Capital LLC increased its position in Vertex Pharmaceuticals by 19.7% in the first quarter. Samlyn Capital LLC now owns 381,000 shares of the pharmaceutical company’s stock worth $30,286,000 after buying an additional 62,587 shares during the period. Strs Ohio increased its position in Vertex Pharmaceuticals by 9.9% in the second quarter. Strs Ohio now owns 346,339 shares of the pharmaceutical company’s stock worth $29,792,000 after buying an additional 31,241 shares during the period. Nisa Investment Advisors LLC increased its position in Vertex Pharmaceuticals by 21.9% in the second quarter. Nisa Investment Advisors LLC now owns 63,375 shares of the pharmaceutical company’s stock worth $5,452,000 after buying an additional 11,375 shares during the period. Pacad Investment Ltd. acquired a new position in Vertex Pharmaceuticals during the first quarter worth approximately $715,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in Vertex Pharmaceuticals during the first quarter worth approximately $1,153,000. 96.19% of the stock is currently owned by institutional investors and hedge funds.
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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