BidaskClub upgraded shares of Vertex Pharmaceuticals (NASDAQ:VRTX) from a sell rating to a hold rating in a report released on Friday morning.
Several other brokerages also recently weighed in on VRTX. Leerink Swann reaffirmed an outperform rating and set a $190.00 target price (up from $175.00) on shares of Vertex Pharmaceuticals in a research note on Thursday, February 1st. TheStreet raised Vertex Pharmaceuticals from a c+ rating to a b- rating in a research note on Friday, March 2nd. Maxim Group upped their target price on Vertex Pharmaceuticals from $195.00 to $200.00 and gave the stock a buy rating in a research note on Monday, March 5th. BMO Capital Markets upped their target price on Vertex Pharmaceuticals from $184.00 to $191.00 and gave the stock a buy rating in a research note on Thursday, February 1st. Finally, Royal Bank of Canada upped their target price on Vertex Pharmaceuticals to $200.00 and gave the stock an outperform rating in a research note on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twenty-five have issued a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $183.96.
Vertex Pharmaceuticals stock traded down $0.59 during mid-day trading on Friday, hitting $161.39. The company had a trading volume of 1,453,200 shares, compared to its average volume of 1,373,612. The company has a current ratio of 3.28, a quick ratio of 3.14 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals has a 12-month low of $113.66 and a 12-month high of $178.25. The firm has a market cap of $41,285.30, a PE ratio of 201.74, a P/E/G ratio of 2.21 and a beta of 1.49.
Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Wednesday, January 31st. The pharmaceutical company reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.08. The business had revenue of $651.63 million during the quarter, compared to the consensus estimate of $592.49 million. Vertex Pharmaceuticals had a return on equity of 11.02% and a net margin of 10.59%. The business’s quarterly revenue was up 42.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.35 EPS. equities research analysts forecast that Vertex Pharmaceuticals will post 1.74 EPS for the current year.
Vertex Pharmaceuticals announced that its Board of Directors has initiated a stock buyback plan on Wednesday, January 31st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the pharmaceutical company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.
In other Vertex Pharmaceuticals news, CEO Jeffrey M. Leiden sold 99,563 shares of the company’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $156.99, for a total value of $15,630,395.37. Following the completion of the sale, the chief executive officer now directly owns 176,747 shares in the company, valued at approximately $27,747,511.53. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Stuart A. Arbuckle sold 2,125 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $158.28, for a total value of $336,345.00. Following the completion of the sale, the executive vice president now owns 44,077 shares of the company’s stock, valued at $6,976,507.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 339,897 shares of company stock valued at $54,447,919. 1.80% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the business. Atria Investments LLC grew its holdings in Vertex Pharmaceuticals by 7.9% in the 4th quarter. Atria Investments LLC now owns 4,765 shares of the pharmaceutical company’s stock valued at $714,000 after buying an additional 350 shares in the last quarter. Hanseatic Management Services Inc. grew its holdings in shares of Vertex Pharmaceuticals by 9.0% during the 4th quarter. Hanseatic Management Services Inc. now owns 5,092 shares of the pharmaceutical company’s stock worth $763,000 after purchasing an additional 419 shares during the period. Creative Planning grew its holdings in shares of Vertex Pharmaceuticals by 13.3% during the 4th quarter. Creative Planning now owns 4,363 shares of the pharmaceutical company’s stock worth $654,000 after purchasing an additional 513 shares during the period. Lazard Asset Management LLC grew its holdings in shares of Vertex Pharmaceuticals by 0.3% during the 4th quarter. Lazard Asset Management LLC now owns 173,986 shares of the pharmaceutical company’s stock worth $26,073,000 after purchasing an additional 564 shares during the period. Finally, DnB Asset Management AS grew its holdings in shares of Vertex Pharmaceuticals by 2.3% during the 4th quarter. DnB Asset Management AS now owns 26,280 shares of the pharmaceutical company’s stock worth $3,938,000 after purchasing an additional 600 shares during the period. Institutional investors own 94.48% of the company’s stock.
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About Vertex Pharmaceuticals
Vertex Pharmaceuticals Incorporated, a biotechnology company, develops medicines for serious diseases. The company focuses on developing and commercializing therapies for the treatment of 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 the treatment of 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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