Needham & Company LLC reaffirmed their hold rating on shares of Vertex Pharmaceuticals (NASDAQ:VRTX) in a research report released on Monday morning, AnalystRatings.com reports.
VRTX has been the subject of a number of other research reports. SVB Leerink dropped their target price on Vertex Pharmaceuticals from $283.00 to $267.00 and set a market perform rating for the company in a report on Thursday, October 15th. Credit Suisse Group lifted their target price on Vertex Pharmaceuticals from $298.00 to $328.00 and gave the stock an outperform rating in a report on Monday, July 20th. Morgan Stanley dropped their price target on Vertex Pharmaceuticals from $281.00 to $249.00 and set an equal weight rating for the company in a research note on Monday, October 19th. Maxim Group reaffirmed a hold rating on shares of Vertex Pharmaceuticals in a research note on Friday, September 18th. Finally, Cowen boosted their price target on Vertex Pharmaceuticals from $265.00 to $300.00 and gave the company an outperform rating in a research note on Thursday, July 16th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Vertex Pharmaceuticals currently has a consensus rating of Buy and an average price target of $293.75.
VRTX stock opened at $207.01 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.72 and a quick ratio of 3.60. The company has a fifty day moving average price of $251.34 and a two-hundred day moving average price of $270.25. Vertex Pharmaceuticals has a one year low of $194.20 and a one year high of $306.08. The stock has a market cap of $53.92 billion, a price-to-earnings ratio of 26.14, a price-to-earnings-growth ratio of 1.25 and a beta of 0.79.
Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Thursday, October 29th. The pharmaceutical company reported $2.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.96 by $0.68. Vertex Pharmaceuticals had a return on equity of 28.55% and a net margin of 38.51%. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the firm earned $1.23 earnings per share. The company’s revenue was up 61.9% on a year-over-year basis. Research analysts anticipate that Vertex Pharmaceuticals will post 8.5 EPS for the current fiscal year.
In related news, EVP Amit Sachdev sold 1,941 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $278.28, for a total value of $540,141.48. Following the sale, the executive vice president now directly owns 37,044 shares in the company, valued at $10,308,604.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sangeeta N. Bhatia sold 10,516 shares of the company’s stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $266.79, for a total value of $2,805,563.64. Following the completion of the sale, the director now owns 14,424 shares in the company, valued at $3,848,178.96. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.
A number of hedge funds have recently made changes to their positions in VRTX. Newfound Research LLC acquired a new position in Vertex Pharmaceuticals in the third quarter valued at approximately $29,000. Manchester Financial Inc. acquired a new position in Vertex Pharmaceuticals in the second quarter valued at approximately $30,000. Anderson Fisher LLC lifted its stake in Vertex Pharmaceuticals by 530.0% in the second quarter. Anderson Fisher LLC now owns 126 shares of the pharmaceutical company’s stock valued at $37,000 after buying an additional 106 shares during the period. Norway Savings Bank acquired a new position in Vertex Pharmaceuticals in the third quarter valued at approximately $39,000. Finally, Duncker Streett & Co. Inc. acquired a new position in Vertex Pharmaceuticals in the second quarter valued at approximately $44,000. Institutional investors and hedge funds own 92.17% of the company’s stock.
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; and TRIKAFTA for the treatment of patients with CF 12 years of age or older who have at least one F508del mutation in the cystic fibrosis transmembrane conductance regulator, or CFTR, gene.
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