Oppenheimer Boosts Vertex Pharmaceuticals (VRTX) Price Target to $190.00

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price objective lifted by stock analysts at Oppenheimer from $175.00 to $190.00 in a report issued on Thursday. The firm presently has an “outperform” rating on the pharmaceutical company’s stock. Oppenheimer’s price target would indicate a potential upside of 24.99% from the stock’s current price.

VRTX has been the topic of several other research reports. BMO Capital Markets restated a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Wednesday, September 27th. Robert W. Baird restated a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Friday, October 27th. Needham & Company LLC restated a “buy” rating and issued a $195.00 price objective on shares of Vertex Pharmaceuticals in a research note on Sunday, September 17th. Cowen restated a “buy” rating and issued a $200.00 price objective on shares of Vertex Pharmaceuticals in a research note on Monday, December 11th. Finally, HC Wainwright restated a “hold” rating and issued a $85.00 price objective on shares of Vertex Pharmaceuticals in a research note on Thursday, October 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-four have issued a buy rating to the company’s stock. Vertex Pharmaceuticals has an average rating of “Buy” and an average target price of $173.78.

Shares of Vertex Pharmaceuticals (NASDAQ:VRTX) opened at $152.01 on Thursday. The stock has a market cap of $38,440.00, a price-to-earnings ratio of 194.88, a PEG ratio of 1.93 and a beta of 1.58. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.28 and a quick ratio of 3.14. Vertex Pharmaceuticals has a 52 week low of $74.87 and a 52 week high of $167.85.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Wednesday, October 25th. The pharmaceutical company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.49. The business had revenue of $578.20 million for the quarter, compared to the consensus estimate of $522.07 million. Vertex Pharmaceuticals had a net margin of 8.53% and a return on equity of 9.23%. Vertex Pharmaceuticals’s quarterly revenue was up 39.7% on a year-over-year basis. During the same quarter last year, the company posted $0.16 earnings per share. research analysts expect that Vertex Pharmaceuticals will post 0.76 EPS for the current year.

In other Vertex Pharmaceuticals news, CEO Jeffrey M. Leiden sold 125,000 shares of Vertex Pharmaceuticals stock in a transaction on Monday, December 11th. The stock was sold at an average price of $141.35, for a total transaction of $17,668,750.00. Following the completion of the transaction, the chief executive officer now directly owns 237,407 shares of the company’s stock, valued at $33,557,479.45. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Thomas Graney sold 777 shares of Vertex Pharmaceuticals stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $149.95, for a total value of $116,511.15. The disclosure for this sale can be found here. Over the last three months, insiders have sold 345,586 shares of company stock valued at $49,802,201. Company insiders own 1.80% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Jennison Associates LLC raised its holdings in shares of Vertex Pharmaceuticals by 19.0% in the third quarter. Jennison Associates LLC now owns 6,017,766 shares of the pharmaceutical company’s stock valued at $914,941,000 after buying an additional 962,644 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in shares of Vertex Pharmaceuticals by 8,061.1% in the third quarter. Point72 Asset Management L.P. now owns 909,230 shares of the pharmaceutical company’s stock valued at $138,239,000 after buying an additional 898,089 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Vertex Pharmaceuticals by 9,422.3% in the third quarter. Assenagon Asset Management S.A. now owns 893,380 shares of the pharmaceutical company’s stock valued at $135,829,000 after buying an additional 883,998 shares during the last quarter. AJO LP bought a new position in shares of Vertex Pharmaceuticals in the second quarter valued at about $71,956,000. Finally, Vanguard Group Inc. raised its holdings in shares of Vertex Pharmaceuticals by 3.1% in the second quarter. Vanguard Group Inc. now owns 16,979,872 shares of the pharmaceutical company’s stock valued at $2,188,196,000 after buying an additional 504,982 shares during the last quarter. 93.09% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Vertex Pharmaceuticals (NASDAQ:VRTX)

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