Todays Report: The RBC Capital Markets Reiterates Buy Rating for Vertex Pharmaceuticals Inc. (VRTX)

The RBC Capital Markets Reiterates Buy Rating for Vertex Pharmaceuticals Inc. (VRTX)

Vertex Pharmaceuticals Inc. (NASDAQ:VRTX)‘s stock had its “buy” rating reaffirmed by investment analysts at RBC Capital Markets in a research report issued on Wednesday.

Several other equities analysts have also recently issued reports on VRTX. Piper Jaffray Cos. reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Saturday, June 18th. Leerink Swann set a $112.00 price objective on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a research note on Saturday, September 17th. Cowen and Company reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Thursday, July 28th. Credit Suisse Group AG set a $110.00 price objective on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a research note on Wednesday, September 28th. Finally, Vetr cut shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating and set a $94.50 price objective on the stock. in a research note on Tuesday, June 14th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $117.60.

Vertex Pharmaceuticals (NASDAQ:VRTX) opened at 80.56 on Wednesday. Vertex Pharmaceuticals has a 1-year low of $75.90 and a 1-year high of $134.71. The stock’s market cap is $19.96 billion. The firm’s 50-day moving average is $90.80 and its 200-day moving average is $89.74.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Wednesday, July 27th. The pharmaceutical company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.03. Vertex Pharmaceuticals had a negative net margin of 17.77% and a negative return on equity of 12.34%. The company had revenue of $431.61 million for the quarter, compared to the consensus estimate of $428.08 million. During the same period in the previous year, the firm earned ($0.54) EPS. Vertex Pharmaceuticals’s revenue was up 159.9% on a year-over-year basis. On average, analysts forecast that Vertex Pharmaceuticals will post $0.89 EPS for the current year.

In related news, EVP Stuart A. Arbuckle sold 1,208 shares of the stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $86.46, for a total transaction of $104,443.68. Following the sale, the executive vice president now owns 114,566 shares of the company’s stock, valued at approximately $9,905,376.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joshua S. Boger sold 6,500 shares of the stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $90.33, for a total value of $587,145.00. Following the sale, the director now directly owns 274,725 shares in the company, valued at approximately $24,815,909.25. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

A number of hedge funds have recently modified their holdings of the company. Mycio Wealth Partners LLC boosted its stake in shares of Vertex Pharmaceuticals by 1.5% in the second quarter. Mycio Wealth Partners LLC now owns 1,218 shares of the pharmaceutical company’s stock worth $105,000 after buying an additional 18 shares during the period. Conning Inc. boosted its stake in shares of Vertex Pharmaceuticals by 0.3% in the second quarter. Conning Inc. now owns 5,740 shares of the pharmaceutical company’s stock worth $494,000 after buying an additional 20 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its stake in shares of Vertex Pharmaceuticals by 0.3% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 9,435 shares of the pharmaceutical company’s stock worth $812,000 after buying an additional 28 shares during the period. Cleararc Capital Inc. boosted its stake in shares of Vertex Pharmaceuticals by 0.6% in the first quarter. Cleararc Capital Inc. now owns 6,028 shares of the pharmaceutical company’s stock worth $479,000 after buying an additional 33 shares during the period. Finally, Fisher Asset Management LLC boosted its stake in shares of Vertex Pharmaceuticals by 1.1% in the third quarter. Fisher Asset Management LLC now owns 5,168 shares of the pharmaceutical company’s stock worth $451,000 after buying an additional 56 shares during the period. 96.19% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Company Profile

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