Vertex Pharmaceuticals Inc. (VRTX) Stock Rating Reaffirmed by Jefferies Group
Jefferies Group reaffirmed their buy rating on shares of Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) in a report issued on Wednesday morning. The brokerage currently has a $104.00 price target on the pharmaceutical company’s stock.
Several other equities analysts have also recently commented on VRTX. Vetr cut shares of Vertex Pharmaceuticals from a buy rating to a hold rating and set a $94.50 price objective for the company. in a research note on Tuesday, June 14th. Credit Suisse Group AG restated a buy rating on shares of Vertex Pharmaceuticals in a research note on Thursday, June 16th. Piper Jaffray Cos. restated a buy rating on shares of Vertex Pharmaceuticals in a research note on Saturday, June 18th. Zacks Investment Research upgraded shares of Vertex Pharmaceuticals from a strong sell rating to a hold rating in a research note on Wednesday, June 29th. Finally, Maxim Group restated a hold rating on shares of Vertex Pharmaceuticals in a research note on Thursday, July 7th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $117.60.
Shares of Vertex Pharmaceuticals (NASDAQ:VRTX) opened at 80.50 on Wednesday. Vertex Pharmaceuticals has a 52 week low of $75.90 and a 52 week high of $134.71. The stock has a 50 day moving average of $89.83 and a 200-day moving average of $89.91. The firm’s market capitalization is $19.95 billion.
Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Wednesday, July 27th. The pharmaceutical company reported $0.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.03. The firm earned $431.61 million during the quarter, compared to analysts’ expectations of $428.08 million. Vertex Pharmaceuticals had a negative net margin of 17.77% and a negative return on equity of 12.34%. The business’s quarterly revenue was up 159.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.54) EPS. Analysts expect that Vertex Pharmaceuticals will post $0.89 earnings per share for the current year.
In other news, Director Joshua S. Boger sold 6,500 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $90.33, for a total value of $587,145.00. Following the sale, the director now directly owns 274,725 shares in the company, valued at $24,815,909.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Stuart A. Arbuckle sold 1,208 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $86.46, for a total transaction of $104,443.68. Following the completion of the sale, the executive vice president now owns 114,566 shares in the company, valued at $9,905,376.36. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.
Several hedge funds have recently bought and sold shares of VRTX. Commonwealth Equity Services Inc boosted its position in Vertex Pharmaceuticals by 23.7% in the first quarter. Commonwealth Equity Services Inc now owns 6,999 shares of the pharmaceutical company’s stock valued at $556,000 after buying an additional 1,342 shares in the last quarter. Virginia Retirement System purchased a new position in Vertex Pharmaceuticals during the first quarter valued at $317,000. NN Investment Partners Holdings N.V. purchased a new position in Vertex Pharmaceuticals during the first quarter valued at $2,334,000. Aviva PLC boosted its position in Vertex Pharmaceuticals by 1.1% in the first quarter. Aviva PLC now owns 135,620 shares of the pharmaceutical company’s stock valued at $10,780,000 after buying an additional 1,456 shares in the last quarter. Finally, Credit Agricole S A boosted its position in Vertex Pharmaceuticals by 2.2% in the first quarter. Credit Agricole S A now owns 40,548 shares of the pharmaceutical company’s stock valued at $3,222,000 after buying an additional 857 shares in the last quarter. Institutional investors own 96.17% of the company’s stock.
About Vertex Pharmaceuticals
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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