Vertex Pharmaceuticals (NASDAQ:VRTX) was downgraded by analysts at Maxim Group from a “buy” rating to a “hold” rating in a research report issued on Wednesday, The Fly reports.
A number of other research analysts also recently weighed in on VRTX. Zacks Investment Research upgraded Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $213.00 price target on the stock in a report on Saturday, October 13th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Vertex Pharmaceuticals in a report on Wednesday, October 24th. Raymond James set a $201.00 price target on Vertex Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, October 25th. HC Wainwright upgraded Vertex Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $220.00 price target on the stock in a report on Friday, October 26th. Finally, BMO Capital Markets lowered their price target on Vertex Pharmaceuticals from $204.00 to $192.00 and set an “outperform” rating on the stock in a report on Thursday, October 25th. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $201.43.
Shares of Vertex Pharmaceuticals stock opened at $187.02 on Wednesday. The firm has a market cap of $48.04 billion, a PE ratio of 233.78, a P/E/G ratio of 1.41 and a beta of 1.65. The company has a current ratio of 3.71, a quick ratio of 3.59 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals has a 12-month low of $144.07 and a 12-month high of $195.81.
Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Tuesday, February 5th. The pharmaceutical company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.24. The company had revenue of $870.11 million for the quarter, compared to analyst estimates of $818.29 million. Vertex Pharmaceuticals had a return on equity of 22.92% and a net margin of 22.87%. Vertex Pharmaceuticals’s revenue for the quarter was up 33.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.61 earnings per share. Equities research analysts predict that Vertex Pharmaceuticals will post 2.56 EPS for the current fiscal year.
In other Vertex Pharmaceuticals news, EVP Michael Parini sold 4,250 shares of the business’s stock in a transaction dated Friday, January 4th. The stock was sold at an average price of $165.90, for a total value of $705,075.00. Following the transaction, the executive vice president now owns 43,859 shares in the company, valued at $7,276,208.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David Altshuler sold 1,223 shares of the business’s stock in a transaction dated Friday, January 18th. The shares were sold at an average price of $194.62, for a total value of $238,020.26. Following the completion of the transaction, the executive vice president now owns 40,336 shares in the company, valued at approximately $7,850,192.32. The disclosure for this sale can be found here. Insiders sold 17,101 shares of company stock worth $3,152,102 in the last 90 days. Corporate insiders own 0.75% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of VRTX. Oregon Public Employees Retirement Fund boosted its stake in shares of Vertex Pharmaceuticals by 16,530.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,610,881 shares of the pharmaceutical company’s stock worth $28,000 after acquiring an additional 4,583,156 shares in the last quarter. We Are One Seven LLC bought a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth about $32,000. Quantamental Technologies LLC bought a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth about $41,000. Hanseatic Management Services Inc. boosted its stake in shares of Vertex Pharmaceuticals by 52.0% during the 4th quarter. Hanseatic Management Services Inc. now owns 298 shares of the pharmaceutical company’s stock worth $49,000 after acquiring an additional 102 shares in the last quarter. Finally, Essex Savings Bank bought a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth about $51,000. Hedge funds and other institutional investors own 93.61% of the company’s stock.
About Vertex Pharmaceuticals
Vertex Pharmaceuticals Incorporated, a biotechnology company, develops medicines for serious diseases. The company focuses on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs. It markets ORKAMBI (lumacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are homozygous for the F508del mutation in their cystic fibrosis transmembrane conductance regulator (CFTR) gene; KALYDECO (ivacaftor) for the treatment of patients with CF who have specific mutations in their CFTR gene, including the G551D mutation; and SYMDEKO (tezacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are F508del homozygous or who have 1 mutation that is responsive to tezacaftor/ivacaftor.
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