Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) has earned a consensus recommendation of “Buy” from the thirty-one research firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-six have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $183.83.
A number of equities research analysts have commented on VRTX shares. Morgan Stanley increased their price target on Vertex Pharmaceuticals from $200.00 to $207.00 and gave the company an “overweight” rating in a research note on Friday, April 27th. BidaskClub cut Vertex Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, March 30th. Cowen reiterated a “buy” rating and issued a $200.00 price target on shares of Vertex Pharmaceuticals in a research note on Friday, April 27th. Zacks Investment Research upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a research note on Friday, April 20th. Finally, Maxim Group reiterated a “buy” rating and issued a $200.00 price target on shares of Vertex Pharmaceuticals in a research note on Friday, April 27th.
In related news, COO Ian F. Smith sold 23,375 shares of the firm’s stock in a transaction dated Friday, June 29th. The stock was sold at an average price of $166.30, for a total transaction of $3,887,262.50. Following the sale, the chief operating officer now directly owns 70,074 shares of the company’s stock, valued at $11,653,306.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Parini sold 2,330 shares of the firm’s stock in a transaction dated Thursday, May 3rd. The stock was sold at an average price of $149.50, for a total value of $348,335.00. Following the sale, the executive vice president now directly owns 41,939 shares in the company, valued at $6,269,880.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 311,587 shares of company stock worth $49,837,162. 1.80% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the stock. Mount Yale Investment Advisors LLC acquired a new stake in Vertex Pharmaceuticals in the first quarter valued at approximately $101,000. Signaturefd LLC acquired a new stake in Vertex Pharmaceuticals in the first quarter valued at approximately $131,000. Point72 Asia Hong Kong Ltd acquired a new stake in Vertex Pharmaceuticals in the first quarter valued at approximately $161,000. Financial Gravity Wealth Inc. acquired a new stake in Vertex Pharmaceuticals in the first quarter valued at approximately $182,000. Finally, NuWave Investment Management LLC grew its holdings in Vertex Pharmaceuticals by 1,826.7% in the first quarter. NuWave Investment Management LLC now owns 1,156 shares of the pharmaceutical company’s stock valued at $184,000 after purchasing an additional 1,096 shares during the period. 93.37% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Vertex Pharmaceuticals opened at $168.27 on Monday, according to Marketbeat Ratings. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.68 and a quick ratio of 3.53. The firm has a market cap of $42.74 billion, a P/E ratio of 209.66, a P/E/G ratio of 2.05 and a beta of 1.42. Vertex Pharmaceuticals has a 1-year low of $125.50 and a 1-year high of $178.25.
Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Thursday, April 26th. The pharmaceutical company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.13. Vertex Pharmaceuticals had a return on equity of 15.28% and a net margin of 9.36%. The firm had revenue of $641.00 million during the quarter, compared to analysts’ expectations of $626.05 million. During the same period in the prior year, the business posted $0.99 EPS. The firm’s quarterly revenue was down 10.2% on a year-over-year basis. equities analysts forecast that Vertex Pharmaceuticals will post 1.95 EPS for the current fiscal year.
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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