Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) – Leerink Swann raised their Q3 2017 earnings per share (EPS) estimates for shares of Vertex Pharmaceuticals in a research note issued on Monday. Leerink Swann analyst G. Porges now anticipates that the pharmaceutical company will post earnings of $0.17 per share for the quarter, up from their previous estimate of $0.11. Leerink Swann has a “Outperform” rating on the stock. Leerink Swann also issued estimates for Vertex Pharmaceuticals’ FY2017 earnings at $0.60 EPS and FY2018 earnings at $1.35 EPS.
Several other analysts have also weighed in on the company. Stifel Nicolaus raised their price objective on Vertex Pharmaceuticals from $130.00 to $154.00 and gave the company a “buy” rating in a research note on Tuesday, July 18th. Zacks Investment Research raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $144.00 price objective on the stock in a research note on Tuesday, July 4th. Needham & Company LLC raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $155.00 price objective on the stock in a research note on Friday, June 23rd. BidaskClub lowered Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 28th. Finally, J P Morgan Chase & Co set a $184.00 price objective on Vertex Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $167.04.
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Vertex Pharmaceuticals (NASDAQ:VRTX) opened at 155.05 on Wednesday. The company has a market capitalization of $39.09 billion, a P/E ratio of 148.94 and a beta of 1.73. Vertex Pharmaceuticals has a 52-week low of $71.46 and a 52-week high of $167.85. The stock has a 50 day moving average of $154.24 and a 200-day moving average of $136.37.
Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.33. Vertex Pharmaceuticals had a net margin of 12.05% and a return on equity of 4.64%. The company had revenue of $544.10 million for the quarter, compared to the consensus estimate of $489.95 million. During the same period last year, the firm posted $0.24 EPS. The company’s revenue for the quarter was up 26.1% on a year-over-year basis.
In other news, CEO Jeffrey M. Leiden sold 216,624 shares of the business’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $160.96, for a total transaction of $34,867,799.04. Following the completion of the sale, the chief executive officer now owns 400,266 shares in the company, valued at $64,426,815.36. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Amit Sachdev sold 28,625 shares of the business’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $160.93, for a total value of $4,606,621.25. Following the sale, the executive vice president now owns 119,335 shares of the company’s stock, valued at approximately $19,204,581.55. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 509,080 shares of company stock valued at $81,661,736. Corporate insiders own 1.80% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Teachers Advisors LLC increased its holdings in shares of Vertex Pharmaceuticals by 48.6% during the first quarter. Teachers Advisors LLC now owns 510,373 shares of the pharmaceutical company’s stock valued at $55,809,000 after acquiring an additional 166,998 shares in the last quarter. Dynamic Capital Management Ltd increased its holdings in shares of Vertex Pharmaceuticals by 53.8% during the first quarter. Dynamic Capital Management Ltd now owns 39,614 shares of the pharmaceutical company’s stock valued at $4,332,000 after acquiring an additional 13,853 shares in the last quarter. Delta Lloyd Asset Management N.V. bought a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at approximately $3,285,000. NorthCoast Asset Management LLC bought a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at approximately $782,000. Finally, Prudential Financial Inc. increased its holdings in shares of Vertex Pharmaceuticals by 12.8% during the second quarter. Prudential Financial Inc. now owns 444,725 shares of the pharmaceutical company’s stock valued at $57,312,000 after acquiring an additional 50,350 shares in the last quarter. Hedge funds and other institutional investors own 92.82% of the company’s stock.
About Vertex Pharmaceuticals
Vertex Pharmaceuticals Incorporated is engaged in discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company 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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