Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Get Free Report) have been given a consensus recommendation of “Moderate Buy” by the twenty-four research firms that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, twenty have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $563.50.
A number of analysts have recently commented on VRTX shares. Sanford C. Bernstein raised Vertex Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, July 29th. Weiss Ratings cut shares of Vertex Pharmaceuticals from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 25th. Canaccord Genuity Group raised their price objective on Vertex Pharmaceuticals from $436.00 to $442.00 and gave the stock a “hold” rating in a research note on Tuesday, August 4th. Morgan Stanley boosted their target price on Vertex Pharmaceuticals from $612.00 to $616.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Finally, Royal Bank Of Canada lifted their price target on Vertex Pharmaceuticals from $543.00 to $570.00 and gave the company an “outperform” rating in a research note on Tuesday, July 7th.
View Our Latest Stock Analysis on Vertex Pharmaceuticals
Vertex Pharmaceuticals Price Performance
Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.74 by ($0.01). Vertex Pharmaceuticals had a return on equity of 23.09% and a net margin of 35.00%.The business had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.23 billion. During the same period last year, the company earned $4.52 EPS. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. Analysts expect that Vertex Pharmaceuticals will post 16.86 earnings per share for the current fiscal year.
Insider Transactions at Vertex Pharmaceuticals
In other Vertex Pharmaceuticals news, EVP Duncan Mckechnie sold 1,541 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $519.00, for a total value of $799,779.00. Following the completion of the sale, the executive vice president owned 11,001 shares of the company’s stock, valued at approximately $5,709,519. This trade represents a 12.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 596 shares of the firm’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $482.50, for a total value of $287,570.00. Following the transaction, the chief marketing officer owned 15,337 shares in the company, valued at approximately $7,400,102.50. This trade represents a 3.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 10,464 shares of company stock valued at $4,959,397. Company insiders own 0.20% of the company’s stock.
Institutional Trading of Vertex Pharmaceuticals
A number of large investors have recently bought and sold shares of VRTX. California State Teachers Retirement System grew its stake in shares of Vertex Pharmaceuticals by 50,904.3% during the 2nd quarter. California State Teachers Retirement System now owns 190,491,484 shares of the pharmaceutical company’s stock worth $94,622,835,000 after acquiring an additional 190,118,003 shares during the period. BlackRock Inc. purchased a new stake in Vertex Pharmaceuticals during the second quarter valued at about $11,975,849,000. Norges Bank bought a new position in Vertex Pharmaceuticals during the fourth quarter worth about $1,440,149,000. Bank of America Corp DE purchased a new position in shares of Vertex Pharmaceuticals in the second quarter worth about $1,509,651,000. Finally, AIGH Capital Management LLC bought a new stake in shares of Vertex Pharmaceuticals in the second quarter valued at approximately $26,725,000. 90.96% of the stock is owned by hedge funds and other institutional investors.
Vertex Pharmaceuticals Company Profile
Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.
Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.
Recommended Stories
- Five stocks we like better than Vertex Pharmaceuticals
- Palo Alto’s Rally Has One Big Problem Ahead of Earnings
- These 5 ETFs Have Raked in Cash This Year—What Do They All Have in Common?
- DLocal Is Testing the Breakout Level That Could Change Its Stock Story
- Strike a Balance Between Growth and Stability With These 3 Names Ready to Rally
Receive News & Ratings for Vertex Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vertex Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.
