Vertex Pharmaceuticals Inc. (VRTX) Receives Consensus Rating of “Hold” from Analysts
Shares of Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) have been assigned an average rating of “Hold” from the twenty-nine research firms that are covering the company. Sixteen investment analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $104.69.
VRTX has been the topic of several research analyst reports. JMP Securities reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, August 16th. Barclays PLC lowered Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $100.00 to $90.00 in a report on Tuesday. Leerink Swann set a $112.00 target price on Vertex Pharmaceuticals and gave the company a “buy” rating in a report on Saturday, September 17th. RBC Capital Markets reissued a “buy” rating on shares of Vertex Pharmaceuticals in a report on Wednesday, October 12th. Finally, Stifel Nicolaus boosted their target price on Vertex Pharmaceuticals from $105.00 to $109.00 and gave the company a “buy” rating in a report on Thursday, September 15th.
Vertex Pharmaceuticals (NASDAQ:VRTX) traded down 4.07% on Wednesday, reaching $82.16. The company had a trading volume of 1,204,928 shares. The company’s market capitalization is $20.38 billion. Vertex Pharmaceuticals has a 52-week low of $73.31 and a 52-week high of $133.41. The company’s 50-day moving average is $83.91 and its 200-day moving average is $89.91.
Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Tuesday, October 25th. The pharmaceutical company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.18 by $0.02. The firm had revenue of $413.78 million for the quarter, compared to analyst estimates of $423.53 million. Vertex Pharmaceuticals had a negative return on equity of 5.31% and a negative net margin of 13.45%. The company’s quarterly revenue was up 33.6% on a year-over-year basis. During the same period last year, the firm earned ($0.13) EPS. Equities analysts anticipate that Vertex Pharmaceuticals will post $0.78 EPS for the current fiscal year.
In other news, EVP Stuart A. Arbuckle sold 1,208 shares of the company’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $86.46, for a total value of $104,443.68. Following the completion of the sale, the executive vice president now owns 114,566 shares of the company’s stock, valued at $9,905,376.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Joshua S. Boger sold 6,500 shares of the company’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $95.66, for a total value of $621,790.00. Following the completion of the sale, the director now directly owns 274,725 shares of the company’s stock, valued at approximately $26,280,193.50. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.
Several large investors have recently modified their holdings of VRTX. Eqis Capital Management Inc. increased its stake in shares of Vertex Pharmaceuticals by 19.6% in the second quarter. Eqis Capital Management Inc. now owns 24,182 shares of the pharmaceutical company’s stock valued at $2,080,000 after buying an additional 3,969 shares during the last quarter. Douglass Winthrop Advisors LLC acquired a new position in shares of Vertex Pharmaceuticals during the second quarter worth approximately $260,000. Capstone Asset Management Co. increased its position in shares of Vertex Pharmaceuticals by 3.6% in the second quarter. Capstone Asset Management Co. now owns 23,831 shares of the pharmaceutical company’s stock worth $2,050,000 after buying an additional 830 shares in the last quarter. Factory Mutual Insurance Co. increased its position in shares of Vertex Pharmaceuticals by 55.5% in the second quarter. Factory Mutual Insurance Co. now owns 255,000 shares of the pharmaceutical company’s stock worth $21,935,000 after buying an additional 91,000 shares in the last quarter. Finally, Creative Planning increased its position in shares of Vertex Pharmaceuticals by 2.0% in the second quarter. Creative Planning now owns 5,249 shares of the pharmaceutical company’s stock worth $451,000 after buying an additional 102 shares in the last quarter. 95.39% of the stock is owned by institutional investors.
Vertex Pharmaceuticals Company Profile
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.
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