Vertex Pharmaceuticals (VRTX) Stock Rating Upgraded by BidaskClub

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Vertex Pharmaceuticals (NASDAQ:VRTX) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Several other brokerages also recently issued reports on VRTX. Zacks Investment Research raised shares of Vertex Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, January 26th. Oppenheimer set a $200.00 price objective on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, November 27th. BMO Capital Markets increased their price objective on shares of Vertex Pharmaceuticals to $234.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 6th. Cowen reissued a “buy” rating and set a $220.00 price objective on shares of Vertex Pharmaceuticals in a research report on Wednesday, March 6th. Finally, Maxim Group reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $206.92.

Shares of NASDAQ:VRTX opened at $188.09 on Friday. Vertex Pharmaceuticals has a 52 week low of $144.07 and a 52 week high of $195.81. The company has a market capitalization of $48.39 billion, a price-to-earnings ratio of 66.46, a PEG ratio of 2.31 and a beta of 1.65.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Tuesday, February 5th. The pharmaceutical company reported $1.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.24. Vertex Pharmaceuticals had a net margin of 68.81% and a return on equity of 24.15%. The firm had revenue of $870.11 million during the quarter, compared to the consensus estimate of $818.29 million. During the same quarter in the prior year, the firm earned $0.61 earnings per share. The business’s quarterly revenue was up 33.5% on a year-over-year basis. On average, equities research analysts forecast that Vertex Pharmaceuticals will post 3.04 EPS for the current fiscal year.

In related news, EVP David Altshuler sold 1,223 shares of the stock in a transaction on Friday, January 18th. The shares were sold at an average price of $194.62, for a total transaction of $238,020.26. Following the completion of the transaction, the executive vice president now owns 40,336 shares in the company, valued at $7,850,192.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey M. Leiden sold 32,250 shares of the stock in a transaction on Monday, February 4th. The stock was sold at an average price of $186.35, for a total transaction of $6,009,787.50. Following the transaction, the chief executive officer now owns 155,815 shares of the company’s stock, valued at approximately $29,036,125.25. The disclosure for this sale can be found here. Insiders have sold 214,999 shares of company stock valued at $39,289,000 in the last three months. 0.75% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC boosted its holdings in Vertex Pharmaceuticals by 13.3% during the fourth quarter. FMR LLC now owns 20,483,109 shares of the pharmaceutical company’s stock worth $3,394,256,000 after purchasing an additional 2,411,631 shares during the last quarter. BlackRock Inc. boosted its holdings in Vertex Pharmaceuticals by 3.2% during the third quarter. BlackRock Inc. now owns 19,935,843 shares of the pharmaceutical company’s stock worth $3,842,436,000 after purchasing an additional 625,328 shares during the last quarter. Vanguard Group Inc lifted its stake in Vertex Pharmaceuticals by 1.2% in the third quarter. Vanguard Group Inc now owns 18,775,252 shares of the pharmaceutical company’s stock valued at $3,618,743,000 after acquiring an additional 213,550 shares during the last quarter. Jennison Associates LLC lifted its stake in Vertex Pharmaceuticals by 11.9% in the fourth quarter. Jennison Associates LLC now owns 6,941,621 shares of the pharmaceutical company’s stock valued at $1,150,296,000 after acquiring an additional 739,128 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its stake in Vertex Pharmaceuticals by 16,530.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,610,881 shares of the pharmaceutical company’s stock valued at $28,000 after acquiring an additional 4,583,156 shares during the last quarter. Institutional investors and hedge funds own 94.66% of the company’s stock.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, develops medicines for serious diseases. The company focuses on developing and commercializing therapies for treating cystic fibrosis (CF) and advancing its research and development programs. It markets ORKAMBI (lumacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are homozygous for the F508del mutation in their cystic fibrosis transmembrane conductance regulator (CFTR) gene; KALYDECO (ivacaftor) for treating patients with CF who have specific mutations in their CFTR gene, including the G551D mutation; and SYMDEKO (tezacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are F508del homozygous or who have 1 mutation that is responsive to tezacaftor/ivacaftor.

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Analyst Recommendations for Vertex Pharmaceuticals (NASDAQ:VRTX)

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