Vertex Pharmaceuticals Incorporated (VRTX) Given Buy Rating at Needham & Company LLC
Needham & Company LLC reiterated their buy rating on shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in a report released on Sunday. Needham & Company LLC currently has a $195.00 target price on the pharmaceutical company’s stock.
Other equities analysts have also issued reports about the company. Stifel Nicolaus boosted their price target on Vertex Pharmaceuticals from $130.00 to $154.00 and gave the company a buy rating in a research note on Tuesday, July 18th. Robert W. Baird restated an outperform rating and set a $171.00 price target (up from $136.00) on shares of Vertex Pharmaceuticals in a research note on Friday, July 21st. UBS AG lowered Vertex Pharmaceuticals from a buy rating to a neutral rating and boosted their price target for the company from $135.00 to $174.00 in a research note on Wednesday, July 19th. They noted that the move was a valuation call. Cowen and Company restated a market perform rating and set a $105.00 price target on shares of Vertex Pharmaceuticals in a research note on Thursday, July 6th. Finally, J P Morgan Chase & Co set a $175.00 price objective on Vertex Pharmaceuticals and gave the company a buy rating in a report on Wednesday, July 19th. Six analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $163.35.
Vertex Pharmaceuticals (NASDAQ:VRTX) opened at 153.61 on Friday. Vertex Pharmaceuticals has a 12-month low of $71.46 and a 12-month high of $167.85. The company has a market cap of $38.73 billion, a P/E ratio of 147.56 and a beta of 1.75. The firm’s 50-day moving average price is $154.58 and its 200-day moving average price is $127.13.
Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.33. Vertex Pharmaceuticals had a return on equity of 4.64% and a net margin of 12.05%. The firm had revenue of $544.10 million for the quarter, compared to analyst estimates of $489.95 million. During the same period in the previous year, the company posted $0.24 earnings per share. The company’s quarterly revenue was up 26.1% compared to the same quarter last year. Analysts expect that Vertex Pharmaceuticals will post $1.60 EPS for the current year.
In other news, SVP Paul M. Silva sold 2,577 shares of the firm’s stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $133.36, for a total transaction of $343,668.72. Following the transaction, the senior vice president now directly owns 22,648 shares of the company’s stock, valued at $3,020,337.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Jeffrey Chodakewitz sold 573 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $129.85, for a total transaction of $74,404.05. Following the transaction, the chief marketing officer now directly owns 123,084 shares in the company, valued at $15,982,457.40. The disclosure for this sale can be found here. Insiders have sold 526,092 shares of company stock valued at $84,101,702 over the last 90 days. Company insiders own 1.80% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Intl Fcstone Inc. acquired a new stake in Vertex Pharmaceuticals in the second quarter valued at approximately $752,000. Achmea Investment Management B.V. boosted its position in Vertex Pharmaceuticals by 68.0% in the second quarter. Achmea Investment Management B.V. now owns 8,668 shares of the pharmaceutical company’s stock valued at $1,116,000 after buying an additional 3,507 shares in the last quarter. Lord Abbett & CO. LLC boosted its position in Vertex Pharmaceuticals by 88.1% in the second quarter. Lord Abbett & CO. LLC now owns 459,059 shares of the pharmaceutical company’s stock valued at $59,159,000 after buying an additional 215,062 shares in the last quarter. USA Financial Portformulas Corp acquired a new stake in Vertex Pharmaceuticals in the second quarter valued at approximately $2,947,000. Finally, RNC Capital Management LLC boosted its position in Vertex Pharmaceuticals by 5.3% in the second quarter. RNC Capital Management LLC now owns 2,978 shares of the pharmaceutical company’s stock valued at $384,000 after buying an additional 150 shares in the last quarter. 92.85% of the stock is currently owned by institutional investors and hedge funds.
About Vertex Pharmaceuticals
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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