Equities researchers at Royal Bank Of Canada assumed coverage on shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in a research report issued on Thursday. The brokerage set an “outperform” rating and a $175.00 price target on the pharmaceutical company’s stock. Royal Bank Of Canada’s price objective suggests a potential upside of 13.92% from the company’s previous close.
VRTX has been the topic of a number of other reports. Cowen and Company reissued a “buy” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, August 1st. Jefferies Group LLC assumed coverage on Vertex Pharmaceuticals in a report on Monday, July 10th. They set a “buy” rating and a $155.00 target price on the stock. Credit Suisse Group lifted their target price on Vertex Pharmaceuticals from $125.00 to $195.00 and gave the stock an “outperform” rating in a report on Wednesday, July 19th. BidaskClub lowered Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 28th. Finally, Maxim Group set a $195.00 target price on Vertex Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, July 27th. Six investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $163.35.
Vertex Pharmaceuticals (VRTX) opened at 153.61 on Thursday. The firm has a 50-day moving average of $154.58 and a 200 day moving average of $127.13. Vertex Pharmaceuticals has a 52 week low of $71.46 and a 52 week high of $167.85. The firm has a market capitalization of $38.73 billion, a PE ratio of 147.56 and a beta of 1.75.
Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Wednesday, July 26th. The pharmaceutical company reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.33. The firm had revenue of $544.10 million for the quarter, compared to analysts’ expectations of $489.95 million. Vertex Pharmaceuticals had a return on equity of 4.64% and a net margin of 12.05%. The firm’s revenue for the quarter was up 26.1% on a year-over-year basis. During the same period last year, the business posted $0.24 earnings per share. Analysts predict that Vertex Pharmaceuticals will post $1.60 earnings per share for the current year.
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In other news, EVP Stuart A. Arbuckle sold 2,125 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $152.99, for a total transaction of $325,103.75. Following the transaction, the executive vice president now owns 123,242 shares in the company, valued at $18,854,793.58. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey M. Leiden sold 216,624 shares of the stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $160.96, for a total value of $34,867,799.04. Following the transaction, the chief executive officer now owns 400,266 shares in the company, valued at approximately $64,426,815.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 526,092 shares of company stock valued at $84,101,702. Insiders own 1.80% of the company’s stock.
Several hedge funds have recently modified their holdings of VRTX. Guardian Life Insurance Co. of America boosted its holdings in shares of Vertex Pharmaceuticals by 0.6% in the 1st quarter. Guardian Life Insurance Co. of America now owns 956 shares of the pharmaceutical company’s stock valued at $105,000 after purchasing an additional 6 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Vertex Pharmaceuticals by 15.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 988 shares of the pharmaceutical company’s stock valued at $127,000 after acquiring an additional 132 shares in the last quarter. FNY Partners Fund LP boosted its holdings in shares of Vertex Pharmaceuticals by 900.0% during the 2nd quarter. FNY Partners Fund LP now owns 1,000 shares of the pharmaceutical company’s stock valued at $128,000 after acquiring an additional 900 shares in the last quarter. Dupont Capital Management Corp acquired a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter valued at $186,000. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter valued at $197,000. 92.88% of the stock is currently owned by hedge funds and other institutional investors.
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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