BMO Capital Markets reiterated their outperform rating on shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in a research note published on Thursday morning. BMO Capital Markets currently has a $182.00 price objective on the pharmaceutical company’s stock, up from their prior price objective of $180.00.

A number of other analysts have also recently weighed in on the stock. Vetr cut shares of Vertex Pharmaceuticals from a sell rating to a strong sell rating and set a $102.58 price target for the company. in a research report on Thursday, April 20th. Stifel Nicolaus upped their price target on shares of Vertex Pharmaceuticals from $130.00 to $154.00 and gave the stock a buy rating in a research report on Tuesday, July 18th. Zacks Investment Research cut shares of Vertex Pharmaceuticals from a buy rating to a hold rating in a research report on Monday, April 10th. Jefferies Group LLC reaffirmed a buy rating and set a $126.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 2nd. Finally, Needham & Company LLC raised shares of Vertex Pharmaceuticals from a hold rating to a buy rating and set a $155.00 price target for the company in a research report on Friday, June 23rd. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. Vertex Pharmaceuticals has a consensus rating of Buy and an average target price of $159.60.

Shares of Vertex Pharmaceuticals (NASDAQ VRTX) opened at 154.15 on Thursday. The stock has a 50 day moving average price of $136.02 and a 200 day moving average price of $110.54. Vertex Pharmaceuticals has a 52 week low of $71.46 and a 52 week high of $167.85. The firm has a market capitalization of $38.66 billion, a PE ratio of 148.22 and a beta of 1.73.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.33. Vertex Pharmaceuticals had a net margin of 12.05% and a return on equity of 4.64%. The firm had revenue of $544.10 million during the quarter, compared to analysts’ expectations of $489.95 million. During the same period in the prior year, the company earned $0.24 EPS. The firm’s revenue was up 26.1% on a year-over-year basis. Equities analysts forecast that Vertex Pharmaceuticals will post $1.60 earnings per share for the current fiscal year.

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In related news, EVP Amit Sachdev sold 28,625 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $160.93, for a total value of $4,606,621.25. Following the completion of the sale, the executive vice president now owns 119,335 shares in the company, valued at approximately $19,204,581.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CMO Jeffrey Chodakewitz sold 8,979 shares of the company’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $121.05, for a total transaction of $1,086,907.95. Following the completion of the sale, the chief marketing officer now owns 131,490 shares of the company’s stock, valued at approximately $15,916,864.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 727,474 shares of company stock valued at $109,161,955. 1.80% of the stock is owned by insiders.

Large investors have recently modified their holdings of the stock. BlackRock Inc. increased its stake in shares of Vertex Pharmaceuticals by 2,699.4% in the first quarter. BlackRock Inc. now owns 19,246,380 shares of the pharmaceutical company’s stock valued at $2,104,591,000 after buying an additional 18,558,874 shares during the period. Vanguard Group Inc. increased its stake in shares of Vertex Pharmaceuticals by 3.5% in the first quarter. Vanguard Group Inc. now owns 16,474,890 shares of the pharmaceutical company’s stock valued at $1,801,530,000 after buying an additional 560,796 shares during the period. State Street Corp increased its stake in shares of Vertex Pharmaceuticals by 2.0% in the first quarter. State Street Corp now owns 12,013,178 shares of the pharmaceutical company’s stock valued at $1,313,647,000 after buying an additional 239,017 shares during the period. Clearbridge Investments LLC increased its stake in shares of Vertex Pharmaceuticals by 1.2% in the first quarter. Clearbridge Investments LLC now owns 8,754,618 shares of the pharmaceutical company’s stock valued at $957,317,000 after buying an additional 105,260 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Vertex Pharmaceuticals by 8.9% in the first quarter. Geode Capital Management LLC now owns 2,339,821 shares of the pharmaceutical company’s stock valued at $255,483,000 after buying an additional 191,154 shares during the period. Institutional investors and hedge funds own 94.37% of the company’s stock.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Incorporated is engaged in discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company is focused on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs in other indications.

Analyst Recommendations for Vertex Pharmaceuticals (NASDAQ:VRTX)

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