Investment Analysts’ Weekly Ratings Changes for Vertex Pharmaceuticals (VRTX)

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A number of firms have modified their ratings and price targets on shares of Vertex Pharmaceuticals (NASDAQ: VRTX) recently:

  • 5/14/2019 – Vertex Pharmaceuticals was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 5/1/2019 – Vertex Pharmaceuticals was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 5/1/2019 – Vertex Pharmaceuticals had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $195.00 price target on the stock. They wrote, “Vertex reported $857M in 1Q19 WW Cystic Fibrosis sales, above our $842M and consensus $849M ests. Symdeko/ Symkevi is primary growth driver, as expected. Sales and OpEx guidance are unch. Non-GAAP EPS was $1.14, above our $1.04 and consensus $1.01 ests. Full data set from both triple drug CF Phase 3 programs expected in 2Q19 and mgmt reiterated plans to select best regimen for NDA and MAA submissions in 3Q19 and 4Q19, respectively. Vertex moving a new once- daily corrector (VX-121) into triple drug Phase 2 trial w/ VX-561/TEZ in hopes of even greater efficacy. VX-814 announced as first candidate for AAT . A Phase 1 trial is underway w/ more backup cmpds to move into clinic in 2019. NaV1.8 pain strategy update likely in 2H19. BUY. Vertex likely to hold strong competitive position in CF for several yrs.””
  • 5/1/2019 – Vertex Pharmaceuticals had its “buy” rating reaffirmed by analysts at JPMorgan Chase & Co.. They now have a $209.00 price target on the stock.
  • 4/30/2019 – Vertex Pharmaceuticals had its “buy” rating reaffirmed by analysts at Cowen Inc. They now have a $220.00 price target on the stock.
  • 4/18/2019 – Vertex Pharmaceuticals was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 4/16/2019 – Vertex Pharmaceuticals was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 4/11/2019 – Vertex Pharmaceuticals is now covered by analysts at Evercore ISI. They set an “in-line” rating and a $183.00 price target on the stock.
  • 3/26/2019 – Vertex Pharmaceuticals was upgraded by analysts at William Blair from a “market perform” rating to an “outperform” rating. They now have a $183.85 price target on the stock.
  • 3/22/2019 – Vertex Pharmaceuticals was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 3/19/2019 – Vertex Pharmaceuticals had its “market perform” rating reaffirmed by analysts at Svb Leerink Llc.
  • 3/19/2019 – Vertex Pharmaceuticals was downgraded by analysts at Leerink Swann from an “outperform” rating to a “market perform” rating. They now have a $185.40 price target on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call.

Shares of NASDAQ VRTX traded down $1.50 during trading on Friday, hitting $168.73. The company had a trading volume of 896,463 shares, compared to its average volume of 1,399,843. The company has a quick ratio of 3.66, a current ratio of 3.78 and a debt-to-equity ratio of 0.13. Vertex Pharmaceuticals Incorporated has a 12 month low of $144.07 and a 12 month high of $195.81. The company has a market capitalization of $43.68 billion, a P/E ratio of 59.62, a price-to-earnings-growth ratio of 2.42 and a beta of 1.56.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Tuesday, April 30th. The pharmaceutical company reported $1.14 EPS for the quarter, topping the consensus estimate of $0.65 by $0.49. Vertex Pharmaceuticals had a return on equity of 22.63% and a net margin of 66.01%. The firm had revenue of $857.00 million for the quarter, compared to the consensus estimate of $853.00 million. During the same quarter last year, the company earned $0.76 earnings per share. The business’s revenue for the quarter was up 34.3% compared to the same quarter last year. Research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 3.06 EPS for the current year.

In other news, CMO Reshma Kewalramani sold 241 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $165.41, for a total value of $39,863.81. Following the completion of the sale, the chief marketing officer now directly owns 13,736 shares of the company’s stock, valued at approximately $2,272,071.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David Altshuler sold 5,624 shares of the firm’s stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $187.00, for a total value of $1,051,688.00. Following the completion of the sale, the executive vice president now directly owns 32,604 shares of the company’s stock, valued at $6,096,948. The disclosure for this sale can be found here. Insiders have sold 82,168 shares of company stock valued at $14,779,781 in the last quarter. 0.70% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the company. RMB Capital Management LLC grew its stake in Vertex Pharmaceuticals by 3.0% during the 4th quarter. RMB Capital Management LLC now owns 21,113 shares of the pharmaceutical company’s stock worth $3,499,000 after buying an additional 617 shares during the last quarter. Eastern Bank grew its stake in Vertex Pharmaceuticals by 43.2% during the 4th quarter. Eastern Bank now owns 3,315 shares of the pharmaceutical company’s stock worth $549,000 after buying an additional 1,000 shares during the last quarter. State Treasurer State of Michigan grew its stake in Vertex Pharmaceuticals by 74.8% during the 4th quarter. State Treasurer State of Michigan now owns 133,168 shares of the pharmaceutical company’s stock worth $22,067,000 after buying an additional 57,000 shares during the last quarter. HighPoint Advisor Group LLC grew its stake in Vertex Pharmaceuticals by 3.2% during the 4th quarter. HighPoint Advisor Group LLC now owns 5,097 shares of the pharmaceutical company’s stock worth $952,000 after buying an additional 160 shares during the last quarter. Finally, Biondo Investment Advisors LLC grew its stake in Vertex Pharmaceuticals by 8.8% during the 4th quarter. Biondo Investment Advisors LLC now owns 46,020 shares of the pharmaceutical company’s stock worth $7,626,000 after buying an additional 3,715 shares during the last quarter. 94.92% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Incorporated engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene.

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