Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) shares rose 3.4% during mid-day trading on Wednesday . The company traded as high as $89.90 and last traded at $89.48, with a volume of 629,546 shares. The stock had previously closed at $86.51.

VRTX has been the topic of a number of research analyst reports. Leerink Swann reaffirmed an “outperform” rating on shares of Vertex Pharmaceuticals in a report on Sunday, April 10th. Guggenheim dropped their price target on Vertex Pharmaceuticals from $145.00 to $114.00 and set a “buy” rating on the stock in a research note on Monday, March 28th. Maxim Group reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Thursday, March 10th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $131.00 price target on shares of Vertex Pharmaceuticals in a research note on Friday, March 11th. Finally, BMO Capital Markets assumed coverage on Vertex Pharmaceuticals in a research note on Thursday, April 7th. They issued a “market perform” rating and a $90.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Vertex Pharmaceuticals presently has an average rating of “Buy” and an average target price of $127.40.

The stock’s 50 day moving average price is $88.30 and its 200-day moving average price is $90.50. The stock’s market cap is $22.18 billion.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Wednesday, April 27th. The pharmaceutical company reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.29 by $0.20. During the same period last year, the company posted ($0.62) EPS. The business earned $398.10 million during the quarter, compared to analysts’ expectations of $439.94 million. The firm’s quarterly revenue was up 187.4% on a year-over-year basis. On average, equities analysts predict that Vertex Pharmaceuticals Inc. will post $1.10 EPS for the current year.

In other Vertex Pharmaceuticals news, SVP Paul M. Silva sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $87.63, for a total value of $262,890.00. Following the completion of the transaction, the senior vice president now directly owns 15,950 shares in the company, valued at $1,397,698.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Joshua S. Boger sold 5,130 shares of the firm’s stock in a transaction that occurred on Wednesday, June 29th. The shares were sold at an average price of $84.82, for a total value of $435,126.60. Following the completion of the sale, the director now directly owns 273,355 shares of the company’s stock, valued at $23,185,971.10. The disclosure for this sale can be found here.

Several hedge funds have added to or reduced their stakes in VRTX. Ameritas Investment Partners Inc. boosted its stake in Vertex Pharmaceuticals by 0.9% in the fourth quarter. Ameritas Investment Partners Inc. now owns 8,698 shares of the pharmaceutical company’s stock worth $1,094,000 after buying an additional 78 shares during the last quarter. Greenwood Capital Associates LLC boosted its stake in Vertex Pharmaceuticals by 0.7% in the fourth quarter. Greenwood Capital Associates LLC now owns 10,768 shares of the pharmaceutical company’s stock worth $1,355,000 after buying an additional 80 shares during the last quarter. Mutual of America Capital Management LLC boosted its stake in Vertex Pharmaceuticals by 0.5% in the fourth quarter. Mutual of America Capital Management LLC now owns 32,865 shares of the pharmaceutical company’s stock worth $4,135,000 after buying an additional 173 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Vertex Pharmaceuticals by 2.1% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,054 shares of the pharmaceutical company’s stock worth $2,020,000 after buying an additional 335 shares during the last quarter. Finally, Profund Advisors LLC boosted its stake in Vertex Pharmaceuticals by 0.5% in the fourth quarter. Profund Advisors LLC now owns 189,113 shares of the pharmaceutical company’s stock worth $23,796,000 after buying an additional 1,006 shares during the last quarter.

Vertex Pharmaceuticals Incorporated is engaged in the business of discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company operates in pharmaceuticals segment. Its business 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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