Vertex Pharmaceuticals Inc. (VRTX) Earns “Buy” Rating from Jefferies Group
Jefferies Group restated their buy rating on shares of Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) in a research note released on Thursday morning. Jefferies Group currently has a $107.00 price target on the pharmaceutical company’s stock.
“This morning VRTX announced at a conference that Orkambi refills have lagged during 3Q, and we had the opportunity to meet with the company this morning to discuss commercial and clinical developments.”,” Jefferies Group’s analyst wrote.
A number of other equities research analysts have also recently commented on the company. BMO Capital Markets reaffirmed a hold rating and set a $87.00 price objective on shares of Vertex Pharmaceuticals in a research note on Thursday, September 15th. Leerink Swann reaffirmed an outperform rating and set a $113.00 price objective on shares of Vertex Pharmaceuticals in a research note on Thursday, September 15th. Stifel Nicolaus lifted their price objective on Vertex Pharmaceuticals from $105.00 to $109.00 and gave the stock a buy rating in a research note on Thursday, September 15th. Citigroup Inc. assumed coverage on Vertex Pharmaceuticals in a research note on Tuesday, September 13th. They set a market perform rating for the company. They noted that the move was a valuation call. Finally, Raymond James Financial Inc. assumed coverage on Vertex Pharmaceuticals in a research note on Tuesday, September 13th. They set a market perform rating for the company. Eleven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Vertex Pharmaceuticals currently has a consensus rating of Buy and a consensus price target of $118.45.
Shares of Vertex Pharmaceuticals (NASDAQ:VRTX) opened at 91.69 on Thursday. Vertex Pharmaceuticals has a 1-year low of $75.90 and a 1-year high of $134.71. The stock’s 50 day moving average price is $97.52 and its 200-day moving average price is $89.51. The stock’s market capitalization is $22.72 billion.
Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Wednesday, July 27th. The pharmaceutical company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.03. Vertex Pharmaceuticals had a negative return on equity of 12.34% and a negative net margin of 17.77%. The business earned $431.61 million during the quarter, compared to analysts’ expectations of $428.08 million. During the same period in the previous year, the firm earned ($0.54) earnings per share. The firm’s quarterly revenue was up 159.9% compared to the same quarter last year. Equities research analysts anticipate that Vertex Pharmaceuticals will post $1.00 EPS for the current fiscal year.
In other Vertex Pharmaceuticals news, Director Joshua S. Boger sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $92.37, for a total transaction of $600,405.00. Following the transaction, the director now owns 274,725 shares of the company’s stock, valued at $25,376,348.25. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Joshua S. Boger sold 5,130 shares of the business’s stock in a transaction that occurred on Wednesday, June 29th. The stock was sold at an average price of $84.82, for a total value of $435,126.60. Following the transaction, the director now directly owns 273,355 shares in the company, valued at approximately $23,185,971.10. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Samlyn Capital LLC increased its position in shares of Vertex Pharmaceuticals by 19.7% in the first quarter. Samlyn Capital LLC now owns 381,000 shares of the pharmaceutical company’s stock worth $30,286,000 after buying an additional 62,587 shares during the period. Pacad Investment Ltd. acquired a new position in shares of Vertex Pharmaceuticals during the first quarter worth $715,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Vertex Pharmaceuticals during the first quarter worth $1,153,000. AMP Capital Investors Ltd increased its position in shares of Vertex Pharmaceuticals by 0.6% in the first quarter. AMP Capital Investors Ltd now owns 99,879 shares of the pharmaceutical company’s stock worth $7,831,000 after buying an additional 549 shares during the period. Finally, Douglass Winthrop Advisors LLC acquired a new position in shares of Vertex Pharmaceuticals during the second quarter worth $260,000. 96.26% of the stock is currently owned by hedge funds and other institutional investors.
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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