Todays Report: The Vertex Pharmaceuticals Inc. (VRTX) Receives Overweight Rating from JPMorgan Chase & Co.

The Vertex Pharmaceuticals Inc. (VRTX) Receives Overweight Rating from JPMorgan Chase & Co.

Vertex Pharmaceuticals Inc. (NASDAQ:VRTX)‘s stock had its “overweight” rating reissued by investment analysts at JPMorgan Chase & Co. in a research report issued on Wednesday.

A number of other research analysts also recently issued reports on VRTX. Vetr upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $94.38 price target on the stock in a research note on Monday, June 13th. Credit Suisse Group AG restated a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Thursday, June 16th. Jefferies Group restated a “buy” rating and set a $103.00 price target on shares of Vertex Pharmaceuticals in a research note on Friday, June 17th. Piper Jaffray Cos. restated a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Saturday, June 18th. Finally, Zacks Investment Research upgraded Vertex Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 29th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Vertex Pharmaceuticals has an average rating of “Buy” and an average target price of $117.60.

Shares of Vertex Pharmaceuticals (NASDAQ:VRTX) traded up 0.87% during mid-day trading on Wednesday, hitting $85.70. The company had a trading volume of 983,269 shares. The firm has a 50-day moving average price of $92.75 and a 200 day moving average price of $89.81. Vertex Pharmaceuticals has a 12 month low of $75.90 and a 12 month high of $134.71. The firm’s market capitalization is $21.23 billion.

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

In other Vertex Pharmaceuticals news, EVP Stuart A. Arbuckle sold 1,208 shares of the business’s 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 transaction, the executive vice president now owns 114,566 shares in the company, valued at $9,905,376.36. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Joshua S. Boger sold 6,500 shares of the business’s 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 transaction, the director now owns 274,725 shares in the company, valued at approximately $24,815,909.25. The disclosure for this sale can be found here. 1.90% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC boosted its position in shares of Vertex Pharmaceuticals by 46.9% in the second quarter. FMR LLC now owns 22,227,104 shares of the pharmaceutical company’s stock worth $1,911,975,000 after buying an additional 7,092,351 shares in the last quarter. Jennison Associates LLC boosted its position in Vertex Pharmaceuticals by 182.2% in the second quarter. Jennison Associates LLC now owns 2,974,800 shares of the pharmaceutical company’s stock valued at $255,892,000 after buying an additional 1,920,658 shares during the period. TimesSquare Capital Management LLC acquired a new position in Vertex Pharmaceuticals during the second quarter valued at approximately $61,066,000. Eaton Vance Management boosted its position in Vertex Pharmaceuticals by 142.8% in the second quarter. Eaton Vance Management now owns 994,957 shares of the pharmaceutical company’s stock valued at $85,586,000 after buying an additional 585,172 shares during the period. Finally, Pictet Asset Management Ltd. boosted its position in Vertex Pharmaceuticals by 181.5% in the second quarter. Pictet Asset Management Ltd. now owns 814,519 shares of the pharmaceutical company’s stock valued at $75,872,000 after buying an additional 525,199 shares during the period. Institutional investors own 96.19% of the company’s stock.

Vertex Pharmaceuticals Company Profile

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