Maxim Group Raises Vertex Pharmaceuticals (VRTX) Price Target to $200.00
Vertex Pharmaceuticals (NASDAQ:VRTX) had its target price raised by Maxim Group from $195.00 to $200.00 in a report released on Monday. The firm currently has a “buy” rating on the pharmaceutical company’s stock. Maxim Group’s price target suggests a potential upside of 17.61% from the stock’s previous close.
Several other research firms also recently issued reports on VRTX. Leerink Swann reaffirmed an “outperform” rating and set a $190.00 price target (up previously from $175.00) on shares of Vertex Pharmaceuticals in a research note on Thursday, February 1st. BMO Capital Markets lifted their price target on Vertex Pharmaceuticals from $184.00 to $191.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Jefferies Group reaffirmed a “buy” rating and set a $195.00 price target on shares of Vertex Pharmaceuticals in a research note on Thursday, February 1st. Royal Bank of Canada lifted their price target on Vertex Pharmaceuticals to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Finally, Barclays lifted their price target on Vertex Pharmaceuticals from $180.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-five have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $183.96.
Vertex Pharmaceuticals (NASDAQ VRTX) opened at $170.06 on Monday. The stock has a market capitalization of $43,176.87, a price-to-earnings ratio of 163.52, a PEG ratio of 2.42 and a beta of 1.56. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.14 and a current ratio of 3.28. Vertex Pharmaceuticals has a one year low of $88.87 and a one year high of $174.96.
Vertex Pharmaceuticals announced that its board has approved a stock repurchase plan on Wednesday, January 31st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the pharmaceutical company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other Vertex Pharmaceuticals news, CFO Thomas Graney sold 777 shares of Vertex Pharmaceuticals stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $149.95, for a total value of $116,511.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey M. Leiden sold 125,000 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $141.35, for a total value of $17,668,750.00. Following the completion of the sale, the chief executive officer now owns 237,407 shares of the company’s stock, valued at approximately $33,557,479.45. The disclosure for this sale can be found here. Insiders sold a total of 458,216 shares of company stock valued at $70,644,124 in the last 90 days. 1.80% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of VRTX. Advisory Services Network LLC grew its holdings in Vertex Pharmaceuticals by 337.6% in the 4th quarter. Advisory Services Network LLC now owns 792 shares of the pharmaceutical company’s stock valued at $119,000 after buying an additional 611 shares during the period. Smithfield Trust Co. purchased a new stake in Vertex Pharmaceuticals in the 3rd quarter valued at about $135,000. Whittier Trust Co. grew its holdings in Vertex Pharmaceuticals by 153.5% in the 4th quarter. Whittier Trust Co. now owns 991 shares of the pharmaceutical company’s stock valued at $149,000 after buying an additional 600 shares during the period. FNY Managed Accounts LLC purchased a new stake in Vertex Pharmaceuticals in the 3rd quarter valued at about $162,000. Finally, Baldwin Brothers Inc. MA purchased a new stake in Vertex Pharmaceuticals in the 4th quarter valued at about $184,000. Institutional investors own 93.53% of the company’s stock.
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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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