Vertex Pharmaceuticals (NASDAQ:VRTX) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, ValuEngine reports.
A number of other research analysts have also issued reports on VRTX. Citigroup raised their price objective on shares of Vertex Pharmaceuticals from $205.00 to $225.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Robert W. Baird set a $210.00 price objective on shares of Vertex Pharmaceuticals and gave the company a “buy” rating in a report on Monday, October 21st. Maxim Group reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, November 1st. JPMorgan Chase & Co. set a $218.00 price objective on shares of Vertex Pharmaceuticals and gave the company a “buy” rating in a report on Monday, October 21st. Finally, Bank of America began coverage on shares of Vertex Pharmaceuticals in a report on Wednesday, October 16th. They issued a “buy” rating and a $220.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $219.07.
VRTX stock opened at $223.91 on Tuesday. The stock has a market capitalization of $57.02 billion, a P/E ratio of 79.12, a price-to-earnings-growth ratio of 2.03 and a beta of 1.49. The company has a current ratio of 3.44, a quick ratio of 3.32 and a debt-to-equity ratio of 0.12. Vertex Pharmaceuticals has a 12 month low of $151.80 and a 12 month high of $224.08. The firm has a 50-day moving average price of $202.90 and a 200-day moving average price of $182.35.
Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Wednesday, October 30th. The pharmaceutical company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.36. The firm had revenue of $949.83 million during the quarter, compared to analysts’ expectations of $942.90 million. Vertex Pharmaceuticals had a net margin of 59.24% and a return on equity of 20.33%. The business’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.09 earnings per share. As a group, equities analysts predict that Vertex Pharmaceuticals will post 3.72 EPS for the current fiscal year.
In other Vertex Pharmaceuticals news, CMO Reshma Kewalramani sold 4,692 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $219.37, for a total transaction of $1,029,284.04. Following the completion of the sale, the chief marketing officer now owns 17,790 shares of the company’s stock, valued at approximately $3,902,592.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Ourania Tatsis sold 188 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $169.11, for a total transaction of $31,792.68. Following the sale, the senior vice president now directly owns 7,696 shares of the company’s stock, valued at approximately $1,301,470.56. The disclosure for this sale can be found here. Insiders have sold a total of 290,475 shares of company stock valued at $56,792,441 in the last three months. Insiders own 0.70% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Next Capital Management LLC increased its position in Vertex Pharmaceuticals by 84.4% during the 2nd quarter. Next Capital Management LLC now owns 166 shares of the pharmaceutical company’s stock valued at $30,000 after purchasing an additional 76 shares during the period. Patriot Financial Group Insurance Agency LLC grew its position in shares of Vertex Pharmaceuticals by 118.5% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 177 shares of the pharmaceutical company’s stock worth $32,000 after buying an additional 96 shares during the period. HM Payson & Co. acquired a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter worth approximately $35,000. Captrust Financial Advisors grew its position in shares of Vertex Pharmaceuticals by 204.1% during the 2nd quarter. Captrust Financial Advisors now owns 222 shares of the pharmaceutical company’s stock worth $41,000 after buying an additional 149 shares during the period. Finally, Motco acquired a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter worth approximately $44,000. 94.87% of the stock is owned by institutional investors and hedge funds.
About Vertex Pharmaceuticals
Vertex Pharmaceuticals Incorporated engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene.
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