A number of other equities research analysts have also issued reports on VRTX. Piper Jaffray Cos. reissued a buy rating on shares of Vertex Pharmaceuticals in a research report on Saturday, June 18th. Leerink Swann set a $112.00 price target on Vertex Pharmaceuticals and gave the company a buy rating in a research note on Saturday, September 17th. Cowen and Company restated a hold rating on shares of Vertex Pharmaceuticals in a research note on Thursday, July 28th. Credit Suisse Group AG set a $110.00 price target on Vertex Pharmaceuticals and gave the company a buy rating in a research note on Wednesday, September 28th. Finally, Vetr downgraded Vertex Pharmaceuticals from a buy rating to a hold rating and set a $94.50 price target for the company. in a research note on Tuesday, June 14th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $117.60.
Vertex Pharmaceuticals (NASDAQ:VRTX) opened at 80.50 on Wednesday. Vertex Pharmaceuticals has a one year low of $75.90 and a one year high of $134.71. The firm’s market capitalization is $19.95 billion. The stock’s 50 day moving average price is $89.83 and its 200-day moving average price is $89.91.
Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Wednesday, July 27th. The pharmaceutical company reported $0.24 earnings per share (EPS) for the quarter, beating 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 business had revenue of $431.61 million for the quarter, compared to analyst estimates of $428.08 million. During the same quarter last year, the firm earned ($0.54) EPS. Vertex Pharmaceuticals’s revenue for the quarter was up 159.9% compared to the same quarter last year. On average, equities research analysts expect that Vertex Pharmaceuticals will post $0.89 EPS for the current fiscal year.
In other Vertex Pharmaceuticals news, Director Joshua S. Boger sold 6,500 shares of the company’s stock in a transaction dated Wednesday, October 12th. The stock was sold at an average price of $81.14, for a total value of $527,410.00. Following the completion of the transaction, the director now owns 274,725 shares of the company’s stock, valued at approximately $22,291,186.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Stuart A. Arbuckle sold 1,208 shares of the company’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $86.46, for a total value of $104,443.68. Following the completion of the transaction, the executive vice president now directly owns 114,566 shares of the company’s stock, valued at approximately $9,905,376.36. The disclosure for this sale can be found here. 1.90% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in the stock. FMR LLC raised 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 raised 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 bought a new stake in Vertex Pharmaceuticals during the second quarter worth approximately $61,066,000. Eaton Vance Management raised 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. raised 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. Hedge funds and other institutional investors own 96.17% 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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