Credit Suisse Group AG set a $110.00 price objective on Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) in a report published on Wednesday morning. The brokerage currently has a a buy rating on the pharmaceutical company’s stock.
A number of other brokerages have also issued reports on VRTX. Jefferies Group reissued a buy rating and set a $107.00 target price (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 target price for the company in a research note on Monday, June 27th. Morgan Stanley decreased their target price on shares of Vertex Pharmaceuticals from $140.00 to $139.00 and set an overweight rating for the company in a research note on Thursday, July 28th. JMP Securities reissued a buy rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, August 16th. Finally, Piper Jaffray Cos. reissued a buy rating on shares of Vertex Pharmaceuticals in a research note on Saturday, June 18th. 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 given a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $117.60.
Vertex Pharmaceuticals (NASDAQ:VRTX) opened at 87.21 on Wednesday. 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. The company’s market cap is $21.61 billion.
Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Wednesday, July 27th. The pharmaceutical company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. The company 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 company’s revenue for the quarter was up 159.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.54) EPS. Equities analysts predict that Vertex Pharmaceuticals will post $0.90 earnings per share for the current year.
In other news, Director Joshua S. Boger sold 6,500 shares of the company’s 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 transaction, the director now directly owns 274,725 shares in the company, valued at $24,217,008.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joshua S. Boger sold 47,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $100.66, for a total transaction of $4,731,020.00. Following the sale, the director now directly owns 274,725 shares of the company’s stock, valued at $27,653,818.50. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.
Several large investors have recently bought and sold shares of VRTX. FMR LLC increased 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 worth $1,911,975,000 after buying an additional 7,092,351 shares during the period. Jennison Associates LLC increased 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 worth $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 worth $61,066,000. Eaton Vance Management increased 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 worth $85,586,000 after buying an additional 585,172 shares during the period. Finally, Pictet Asset Management Ltd. increased 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 worth $75,872,000 after buying an additional 525,199 shares during the period. 96.19% of the stock is 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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