Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) have earned a consensus recommendation of “Buy” from the twenty-six ratings firms that are currently covering the firm. One investment analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation and fourteen have issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $107.82.
A number of equities analysts recently issued reports on the company. Vetr cut Vertex Pharmaceuticals from a “sell” rating to a “strong sell” rating and set a $102.58 price objective for the company. in a report on Thursday. Zacks Investment Research cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, April 10th. HC Wainwright restated a “neutral” rating and set a $85.00 price objective on shares of Vertex Pharmaceuticals in a report on Sunday, April 2nd. Citigroup Inc boosted their price objective on Vertex Pharmaceuticals from $105.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, March 29th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $115.00 target price on shares of Vertex Pharmaceuticals in a report on Wednesday, March 29th.
Vertex Pharmaceuticals (NASDAQ:VRTX) traded down 0.51% during trading on Tuesday, reaching $116.66. 785,874 shares of the company’s stock were exchanged. The stock’s market cap is $28.98 billion. The firm has a 50 day moving average of $101.25 and a 200-day moving average of $87.44. Vertex Pharmaceuticals has a 12 month low of $71.46 and a 12 month high of $117.99.
Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Wednesday, January 25th. The pharmaceutical company reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.06. Vertex Pharmaceuticals had a negative return on equity of 2.15% and a negative net margin of 6.76%. The company earned $458.71 million during the quarter, compared to analysts’ expectations of $453.40 million. During the same quarter in the previous year, the business earned $0.17 EPS. On average, equities research analysts anticipate that Vertex Pharmaceuticals will post $1.62 earnings per share for the current fiscal year.
In other Vertex Pharmaceuticals news, EVP Amit Sachdev sold 80,500 shares of the stock in a transaction that occurred on Wednesday, March 29th. The stock was sold at an average price of $107.63, for a total transaction of $8,664,215.00. Following the transaction, the executive vice president now owns 105,054 shares in the company, valued at $11,306,962.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Jeffrey Chodakewitz sold 8,021 shares of the firm’s stock in a transaction that occurred on Wednesday, April 5th. The shares were sold at an average price of $114.00, for a total value of $914,394.00. Following the completion of the transaction, the chief marketing officer now owns 130,532 shares in the company, valued at approximately $14,880,648. The disclosure for this sale can be found here. Insiders have sold 106,250 shares of company stock worth $11,473,856 in the last quarter. 1.90% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in VRTX. Jennison Associates LLC boosted its stake in Vertex Pharmaceuticals by 74.2% in the third quarter. Jennison Associates LLC now owns 5,180,761 shares of the pharmaceutical company’s stock valued at $451,814,000 after buying an additional 2,205,961 shares in the last quarter. Norges Bank bought a new stake in Vertex Pharmaceuticals during the fourth quarter valued at approximately $127,564,000. Camber Capital Management LLC purchased a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth $55,253,000. Two Sigma Investments LP boosted its stake in shares of Vertex Pharmaceuticals by 143.1% in the fourth quarter. Two Sigma Investments LP now owns 1,026,855 shares of the pharmaceutical company’s stock worth $75,648,000 after buying an additional 604,506 shares during the last quarter. Finally, Capital World Investors boosted its stake in shares of Vertex Pharmaceuticals by 2.8% in the third quarter. Capital World Investors now owns 22,292,383 shares of the pharmaceutical company’s stock worth $1,944,119,000 after buying an additional 599,586 shares during the last quarter. Institutional investors and hedge funds own 94.85% 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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