Several brokerages have updated their recommendations and price targets on shares of Vertex Pharmaceuticals (NASDAQ: VRTX) in the last few weeks:

  • 8/4/2017 – Vertex Pharmaceuticals was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Vertex beat estimates for both earnings and sales in Q2 as sales of both its cystic fibrosis (CF) drugs rose. Vertex has two CF drugs in its portfolio with blockbuster potential – Kalydeco & Orkambi. Its efforts to get the drugs approved for additional indications are encouraging. Label expansion will increase patient population and boost sales. Vertex’s CF pipeline is quite strong with a broad portfolio of next-generation CF correctors. Investor focus is on the triple combination CF regimens, which are crucial for long-term growth as they have the potential to treat up to 90% of CF patients. We are encouraged by the recent positive data from three of the triple combination regimens. The stock has also shot up this year. However, Vertex has faced many challenges with respect to commercialization of Orkambi in ex-U.S. markets due to re-imbursement hurdles. Orkambi’s EU reimbursement remains a key for sales growth in 2H17.”
  • 8/1/2017 – Vertex Pharmaceuticals had its “buy” rating reaffirmed by analysts at Cowen and Company. They wrote, “Vertex announced that the FDA has approved Kalydeco for use in CF patients over the.””
  • 8/1/2017 – Vertex Pharmaceuticals had its price target raised by analysts at Argus from $71.46 to $175.00. They now have a “buy” rating on the stock.
  • 7/31/2017 – Vertex Pharmaceuticals was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $181.00 price target on the stock.
  • 7/27/2017 – Vertex Pharmaceuticals was given a new $195.00 price target on by analysts at Maxim Group. They now have a “buy” rating on the stock.
  • 7/27/2017 – Vertex Pharmaceuticals had its price target raised by analysts at Oppenheimer Holdings, Inc. from $150.00 to $175.00. They now have an “outperform” rating on the stock.
  • 7/27/2017 – Vertex Pharmaceuticals was given a new $184.00 price target on by analysts at J P Morgan Chase & Co. They now have a “buy” rating on the stock.
  • 7/27/2017 – Vertex Pharmaceuticals had its “outperform” rating reaffirmed by analysts at BMO Capital Markets. They now have a $182.00 price target on the stock, up previously from $180.00.
  • 7/26/2017 – Vertex Pharmaceuticals was downgraded by analysts at TheStreet from a “b-” rating to a “c+” rating.
  • 7/24/2017 – Vertex Pharmaceuticals was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $181.00 price target on the stock.
  • 7/22/2017 – Vertex Pharmaceuticals had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $190.00 price target on the stock, up previously from $153.00.
  • 7/21/2017 – Vertex Pharmaceuticals had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $195.00 price target on the stock, up previously from $155.00.
  • 7/21/2017 – Vertex Pharmaceuticals had its “outperform” rating reaffirmed by analysts at Robert W. Baird. They now have a $171.00 price target on the stock, up previously from $136.00.
  • 7/21/2017 – Vertex Pharmaceuticals had its “outperform” rating reaffirmed by analysts at BMO Capital Markets. They now have a $180.00 price target on the stock, up previously from $132.00.
  • 7/21/2017 – Vertex Pharmaceuticals had its “buy” rating reaffirmed by analysts at Citigroup Inc.. They now have a $190.00 price target on the stock, up previously from $135.00.
  • 7/19/2017 – Vertex Pharmaceuticals had its “hold” rating reaffirmed by analysts at HC Wainwright. They now have a $85.00 price target on the stock.
  • 7/19/2017 – Vertex Pharmaceuticals had its price target raised by analysts at Credit Suisse Group from $125.00 to $195.00. They now have an “outperform” rating on the stock.
  • 7/19/2017 – Vertex Pharmaceuticals was upgraded by analysts at Cowen and Company from a “market perform” rating to an “outperform” rating. They now have a $200.00 price target on the stock, up previously from $105.00.
  • 7/19/2017 – Vertex Pharmaceuticals was given a new $195.00 price target on by analysts at Maxim Group. They now have a “buy” rating on the stock.
  • 7/19/2017 – Vertex Pharmaceuticals was upgraded by analysts at Janney Montgomery Scott from a “neutral” rating to a “buy” rating. They now have a $98.00 price target on the stock.
  • 7/19/2017 – Vertex Pharmaceuticals had its “outperform” rating reaffirmed by analysts at JMP Securities.
  • 7/19/2017 – Vertex Pharmaceuticals had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $185.00 price target on the stock, up previously from $155.00.
  • 7/19/2017 – Vertex Pharmaceuticals was upgraded by analysts at Raymond James Financial, Inc. from a “market perform” rating to an “outperform” rating. They now have a $181.00 price target on the stock.
  • 7/19/2017 – Vertex Pharmaceuticals had its price target raised by analysts at Piper Jaffray Companies to $194.00. They now have an “overweight” rating on the stock.
  • 7/19/2017 – Vertex Pharmaceuticals was given a new $175.00 price target on by analysts at J P Morgan Chase & Co. They now have a “buy” rating on the stock.
  • 7/19/2017 – Vertex Pharmaceuticals was upgraded by analysts at Barclays PLC from an “equal weight” rating to an “overweight” rating. They now have a $180.00 price target on the stock, up previously from $115.00.
  • 7/19/2017 – Vertex Pharmaceuticals was downgraded by analysts at UBS AG from a “buy” rating to a “neutral” rating. They now have a $174.00 price target on the stock, up previously from $135.00. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 7/18/2017 – Vertex Pharmaceuticals was upgraded by analysts at Vetr from a “strong sell” rating to a “strong-buy” rating. They now have a $156.00 price target on the stock.
  • 7/18/2017 – Vertex Pharmaceuticals had its price target raised by analysts at Stifel Nicolaus from $130.00 to $154.00. They now have a “buy” rating on the stock.
  • 7/10/2017 – Vertex Pharmaceuticals is now covered by analysts at Jefferies Group LLC. They set a “buy” rating and a $155.00 price target on the stock.
  • 7/6/2017 – Vertex Pharmaceuticals had its “market perform” rating reaffirmed by analysts at Cowen and Company. They now have a $105.00 price target on the stock.
  • 7/4/2017 – Vertex Pharmaceuticals was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $144.00 price target on the stock. According to Zacks, “Vertex has two CF drugs – Kalydeco & Orkambi – in its portfolio with blockbuster potential. Its efforts to get the drugs approved for additional indications are encouraging. Label expansion will increase the patient population and boost sales. Vertex’s CF pipeline is quite strong with a broad portfolio of next-generation CF correctors. Investor focus will now be on the triple combination CF regimens, which are crucial for long-term growth at Vertex. Multiple triple combo data readouts in CF patients are expected in 2H17. The stock has also done well this year. However, Vertex has faced many challenges with respect to commercialization of Orkambi in ex-U.S. markets due to re-imbursement hurdles and a slower-than-anticipated uptake in Germany. Estimates have also gone up slightly ahead of the company’s Q2 earnings release. The company has a positive record of earnings surprises in recent quarters.”
  • 6/28/2017 – Vertex Pharmaceuticals was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 6/23/2017 – Vertex Pharmaceuticals was upgraded by analysts at Needham & Company LLC from a “hold” rating to a “buy” rating. They now have a $155.00 price target on the stock.
  • 6/22/2017 – Vertex Pharmaceuticals had its “outperform” rating reaffirmed by analysts at Leerink Swann.

Shares of Vertex Pharmaceuticals Incorporated (NASDAQ VRTX) traded down 2.65% during midday trading on Thursday, hitting $148.54. The stock had a trading volume of 1,302,830 shares. The firm has a 50 day moving average of $142.94 and a 200-day moving average of $114.68. The company has a market cap of $37.45 billion, a P/E ratio of 142.69 and a beta of 1.77. Vertex Pharmaceuticals Incorporated has a one year low of $71.46 and a one year high of $167.86.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Wednesday, July 26th. The pharmaceutical company reported $0.39 EPS for the quarter, beating 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 business had revenue of $544.10 million for the quarter, compared to analyst estimates of $489.95 million. During the same quarter last year, the business earned $0.24 earnings per share. The business’s revenue for the quarter was up 26.1% on a year-over-year basis. On average, analysts forecast that Vertex Pharmaceuticals Incorporated will post $1.60 earnings per share for the current fiscal year.

In related news, SVP Paul M. Silva sold 1,289 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $152.88, for a total transaction of $197,062.32. Following the completion of the sale, the senior vice president now directly owns 17,923 shares in the company, valued at $2,740,068.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Paul M. Silva sold 2,577 shares of the firm’s stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $133.36, for a total transaction of $343,668.72. Following the sale, the senior vice president now owns 22,648 shares of the company’s stock, valued at $3,020,337.28. The disclosure for this sale can be found here. Insiders have sold 751,042 shares of company stock worth $113,078,257 in the last quarter. Company insiders own 1.80% of the company’s stock.

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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