Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) was downgraded by Vetr from a “strong-buy” rating to a “buy” rating in a report issued on Monday. They presently have a $87.67 target price on the pharmaceutical company’s stock. Vetr‘s target price points to a potential downside of 0.11% from the stock’s previous close.
A number of other equities analysts have also commented on the stock. Zacks Investment Research lowered shares of Vertex Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 27th. HC Wainwright lowered shares of Vertex Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their target price for the company from $155.00 to $85.00 in a report on Monday, October 24th. Jefferies Group reaffirmed a “buy” rating and set a $107.00 target price (up previously from $102.00) on shares of Vertex Pharmaceuticals in a report on Sunday, July 31st. Citigroup Inc. assumed coverage on shares of Vertex Pharmaceuticals in a report on Tuesday, September 13th. They set a “market perform” rating on the stock. They noted that the move was a valuation call. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $88.00 target price (up previously from $87.00) on shares of Vertex Pharmaceuticals in a report on Wednesday, October 26th. Sixteen investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $108.13.
Shares of Vertex Pharmaceuticals (NASDAQ:VRTX) traded up 0.49% during trading on Monday, hitting $87.77. 814,399 shares of the stock traded hands. The company has a 50 day moving average price of $83.87 and a 200 day moving average price of $89.83. Vertex Pharmaceuticals has a 12 month low of $73.31 and a 12 month high of $134.23. The firm’s market cap is $21769.86 billion.
Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Tuesday, October 25th. The pharmaceutical company reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by $0.02. The company earned $413.78 million during the quarter, compared to the consensus estimate of $423.53 million. Vertex Pharmaceuticals had a negative return on equity of 5.31% and a negative net margin of 13.45%. Vertex Pharmaceuticals’s quarterly revenue was up 33.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.13) EPS. Analysts anticipate that Vertex Pharmaceuticals will post $0.78 earnings per share for the current fiscal year.
In related news, Director Joshua S. Boger sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $95.66, for a total transaction of $621,790.00. Following the completion of the sale, the director now directly owns 274,725 shares in the company, valued at $26,280,193.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Stuart A. Arbuckle sold 1,208 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $90.00, for a total transaction of $108,720.00. Following the sale, the executive vice president now owns 113,358 shares of the company’s stock, valued at $10,202,220. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the stock. FMR LLC raised its stake 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 valued at $1,911,975,000 after buying an additional 7,092,351 shares during the period. Jennison Associates LLC raised its stake in shares of 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 during the period. TimesSquare Capital Management LLC acquired a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at about $61,066,000. Capital World Investors raised 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 valued at $1,944,119,000 after buying an additional 599,586 shares during the period. Finally, Eaton Vance Management raised its stake in shares of 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. Institutional investors own 95.48% of the company’s stock.
About Vertex Pharmaceuticals
Vertex Pharmaceuticals Incorporated is engaged in the business of discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company operates in pharmaceuticals segment. Its business is focused on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs in other indications.