Vertex Pharmaceuticals Inc. (VRTX) Receives Market Perform Rating from BMO Capital Markets
Vertex Pharmaceuticals Inc. (NASDAQ:VRTX)‘s stock had its “market perform” rating restated by analysts at BMO Capital Markets in a note issued to investors on Wednesday. They currently have a $88.00 target price on the pharmaceutical company’s stock. BMO Capital Markets’ price target would indicate a potential upside of 7.84% from the stock’s current price.
VRTX has been the subject of several other research reports. Stifel Nicolaus restated a “buy” rating and set a $108.00 price target (down previously from $109.00) on shares of Vertex Pharmaceuticals in a research note on Friday, October 28th. Zacks Investment Research cut Vertex Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 27th. Maxim Group restated a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Thursday, September 29th. Vetr cut Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $87.67 price target for the company. in a research note on Monday, November 7th. Finally, Leerink Swann restated an “outperform” rating and set a $113.00 price target on shares of Vertex Pharmaceuticals in a research note on Monday, August 15th. Sixteen analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Vertex Pharmaceuticals has a consensus rating of “Hold” and a consensus price target of $107.17.
Vertex Pharmaceuticals (NASDAQ:VRTX) traded down 4.72% during midday trading on Wednesday, reaching $81.61. 2,292,698 shares of the company were exchanged. Vertex Pharmaceuticals has a 52-week low of $73.31 and a 52-week high of $133.41. The company’s market capitalization is $20.24 billion. The company has a 50 day moving average of $83.91 and a 200-day moving average of $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 Thomson Reuters’ consensus estimate of $0.18 by $0.02. Vertex Pharmaceuticals had a negative return on equity of 5.31% and a negative net margin of 13.45%. The company had revenue of $413.78 million for the quarter, compared to analysts’ expectations of $423.53 million. During the same quarter last year, the company earned ($0.13) EPS. Vertex Pharmaceuticals’s revenue for the quarter was up 33.6% compared to the same quarter last year. On average, equities research analysts anticipate that Vertex Pharmaceuticals will post $0.78 earnings per share for the current fiscal year.
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In related news, Director Joshua S. Boger sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $77.75, for a total transaction of $505,375.00. Following the completion of the transaction, the director now owns 274,725 shares in the company, valued at approximately $21,359,868.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Stuart A. Arbuckle sold 1,208 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $86.46, for a total value of $104,443.68. Following the transaction, the executive vice president now owns 114,566 shares of the company’s stock, valued at approximately $9,905,376.36. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Citizens Financial Group Inc RI raised its position in Vertex Pharmaceuticals by 27.0% in the second quarter. Citizens Financial Group Inc RI now owns 1,189 shares of the pharmaceutical company’s stock worth $102,000 after buying an additional 253 shares in the last quarter. Mycio Wealth Partners LLC raised its position in Vertex Pharmaceuticals by 1.5% in the second quarter. Mycio Wealth Partners LLC now owns 1,218 shares of the pharmaceutical company’s stock worth $105,000 after buying an additional 18 shares in the last quarter. Meeder Asset Management Inc. bought a new position in Vertex Pharmaceuticals during the third quarter worth about $107,000. Paradigm Asset Management Co. LLC raised its position in Vertex Pharmaceuticals by 20.7% in the second quarter. Paradigm Asset Management Co. LLC now owns 1,450 shares of the pharmaceutical company’s stock worth $125,000 after buying an additional 249 shares in the last quarter. Finally, Global X Management Co. LLC raised its position in Vertex Pharmaceuticals by 158.6% in the third quarter. Global X Management Co. LLC now owns 1,557 shares of the pharmaceutical company’s stock worth $136,000 after buying an additional 955 shares in the last quarter. Institutional investors and hedge funds own 95.39% 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.
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