Vertex Pharmaceuticals Inc. (VRTX) Earns Hold Rating from BMO Capital Markets
BMO Capital Markets restated their hold rating on shares of Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) in a research note issued to investors on Thursday. The brokerage currently has a $87.00 price target on the pharmaceutical company’s stock.
VRTX has been the subject of a number of other research reports. Cowen and Company reaffirmed a hold rating on shares of Vertex Pharmaceuticals in a report on Thursday, July 28th. Stifel Nicolaus decreased their price target on shares of Vertex Pharmaceuticals from $108.00 to $105.00 and set a buy rating for the company in a report on Tuesday, August 16th. Leerink Swann reaffirmed an outperform rating and issued a $113.00 price target on shares of Vertex Pharmaceuticals in a report on Monday, August 15th. Vetr cut shares of Vertex Pharmaceuticals from a buy rating to a hold rating and set a $94.38 price target for the company. in a report on Tuesday, May 31st. Finally, Zacks Investment Research raised shares of Vertex Pharmaceuticals from a strong sell rating to a hold rating in a report on Wednesday, June 29th. Eleven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Vertex Pharmaceuticals has a consensus rating of Buy and an average target price of $118.45.
Vertex Pharmaceuticals (NASDAQ:VRTX) opened at 91.26 on Thursday. Vertex Pharmaceuticals has a one year low of $75.90 and a one year high of $134.71. The company’s market cap is $22.61 billion. The company has a 50-day moving average of $97.70 and a 200 day moving average of $89.49.
Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Wednesday, July 27th. The pharmaceutical company reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.03. The company earned $431.61 million during the quarter, compared to the consensus estimate of $428.08 million. Vertex Pharmaceuticals had a negative net margin of 17.77% and a negative return on equity of 12.34%. Vertex Pharmaceuticals’s revenue was up 159.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.54) earnings per share. Analysts anticipate that Vertex Pharmaceuticals will post $1.00 earnings per share for the current year.
In other Vertex Pharmaceuticals news, Director Joshua S. Boger sold 1,100 shares of the business’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $100.79, for a total value of $110,869.00. Following the transaction, the director now directly owns 268,225 shares in the company, valued at approximately $27,034,397.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joshua S. Boger sold 5,130 shares of the business’s stock in a transaction dated Wednesday, June 29th. The shares were sold at an average price of $84.82, for a total transaction of $435,126.60. Following the completion of the transaction, the director now owns 273,355 shares in the company, valued at $23,185,971.10. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of the stock. FMR LLC raised its position in Vertex Pharmaceuticals by 46.9% in the second quarter. FMR LLC now owns 22,227,104 shares of the pharmaceutical company’s stock valued at $1,911,975,000 after buying an additional 7,092,351 shares during the last quarter. Jennison Associates LLC increased its stake in Vertex Pharmaceuticals by 182.2% in the second quarter. Jennison Associates LLC now owns 2,974,800 shares of the pharmaceutical company’s stock worth $255,892,000 after buying an additional 1,920,658 shares during the period. Norges Bank bought a new stake in Vertex Pharmaceuticals during the fourth quarter worth about $223,237,000. TimesSquare Capital Management LLC bought a new stake in Vertex Pharmaceuticals during the second quarter worth about $61,066,000. Finally, Eaton Vance Management increased its stake in Vertex Pharmaceuticals by 142.8% in the second quarter. Eaton Vance Management now owns 994,957 shares of the pharmaceutical company’s stock worth $85,586,000 after buying an additional 585,172 shares during the period. Institutional investors own 96.26% of the company’s stock.
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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