Jefferies Group restated their buy rating on shares of Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) in a research note released on Friday morning. Jefferies Group currently has a $104.00 price objective on the pharmaceutical company’s stock, down from their previous price objective of $107.00.
A number of other research analysts have also recently weighed in on VRTX. Piper Jaffray Cos. restated a buy rating on shares of Vertex Pharmaceuticals in a report on Saturday, June 18th. Leerink Swann set a $112.00 price objective on shares of Vertex Pharmaceuticals and gave the company a buy rating in a report on Saturday, September 17th. Cowen and Company restated a hold rating on shares of Vertex Pharmaceuticals in a report on Thursday, July 28th. Credit Suisse Group AG set a $110.00 price objective on shares of Vertex Pharmaceuticals and gave the company a buy rating in a report on Wednesday, September 28th. Finally, Vetr cut shares of Vertex Pharmaceuticals from a buy rating to a hold rating and set a $94.50 price objective for the company. in a report on Tuesday, June 14th. One 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 company. The company has a consensus rating of Buy and a consensus target price of $117.60.
Vertex Pharmaceuticals (NASDAQ:VRTX) opened at 86.42 on Friday. The stock’s market cap is $21.41 billion. The firm has a 50 day moving average of $93.91 and a 200-day moving average of $89.85. 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 data on Wednesday, July 27th. The pharmaceutical company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. The firm earned $431.61 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 159.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.54) earnings per share. On average, analysts expect that Vertex Pharmaceuticals will post $0.90 earnings per share for the current year.
In related news, Director Joshua S. Boger sold 900 shares of the stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $100.19, for a total value of $90,171.00. Following the sale, the director now directly owns 268,225 shares of the company’s stock, valued at approximately $26,873,462.75. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Joshua S. Boger sold 1,100 shares of the stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $100.79, for a total transaction of $110,869.00. Following the completion of the sale, the director now directly owns 268,225 shares in the company, 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.
Large investors have recently modified their holdings of the stock. Samlyn Capital LLC raised 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 raised 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. Bank of Montreal Can purchased a new position in Vertex Pharmaceuticals during the second quarter worth about $14,876,000. Nisa Investment Advisors LLC raised 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. Finally, Pacad Investment Ltd. purchased a new position in Vertex Pharmaceuticals during the first quarter worth about $715,000. 96.19% of the stock is currently owned by hedge funds and other institutional investors.
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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