Maxim Group set a $195.00 target price on Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in a research note issued to investors on Thursday. The firm currently has a buy rating on the pharmaceutical company’s stock.

Several other brokerages also recently issued reports on VRTX. Robert W. Baird reissued an outperform rating and set a $115.00 price target on shares of Vertex Pharmaceuticals in a report on Wednesday, March 29th. Vetr raised shares of Vertex Pharmaceuticals from a strong sell rating to a strong-buy rating and set a $156.00 price target for the company in a report on Tuesday, July 18th. BMO Capital Markets raised shares of Vertex Pharmaceuticals from a market perform rating to an outperform rating and lifted their price target for the company from $89.67 to $100.00 in a report on Wednesday, March 29th. Jefferies Group LLC reissued a buy rating and set a $185.00 price target (up from $155.00) on shares of Vertex Pharmaceuticals in a report on Wednesday, July 19th. Finally, Credit Suisse Group lifted their price target on shares of Vertex Pharmaceuticals from $125.00 to $195.00 and gave the company an outperform rating in a report on Wednesday, July 19th. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Vertex Pharmaceuticals presently has a consensus rating of Buy and an average target price of $159.60.

Vertex Pharmaceuticals (VRTX) opened at 154.15 on Thursday. Vertex Pharmaceuticals has a 52-week low of $71.46 and a 52-week high of $167.85. The firm has a 50-day moving average of $136.02 and a 200 day moving average of $110.54. The company has a market cap 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 (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $489.95 million. During the same period last year, the firm posted $0.24 EPS. The firm’s quarterly revenue was up 26.1% on a year-over-year basis. Equities research analysts expect that Vertex Pharmaceuticals will post $1.60 earnings per share for the current fiscal year.

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In other news, CEO Jeffrey M. Leiden sold 216,624 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $160.96, for a total value of $34,867,799.04. Following the completion of the transaction, the chief executive officer now owns 400,266 shares in the company, valued at $64,426,815.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey M. Leiden sold 147,101 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $129.50, for a total transaction of $19,049,579.50. Following the completion of the transaction, the chief executive officer now owns 312,142 shares of the company’s stock, valued at approximately $40,422,389. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 727,474 shares of company stock valued at $109,161,955. Corporate insiders own 1.80% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Guardian Life Insurance Co. of America boosted its position in Vertex Pharmaceuticals by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 956 shares of the pharmaceutical company’s stock valued at $105,000 after buying an additional 6 shares during the period. Elk Creek Partners LLC boosted its position in Vertex Pharmaceuticals by 0.3% in the first quarter. Elk Creek Partners LLC now owns 3,120 shares of the pharmaceutical company’s stock valued at $341,000 after buying an additional 10 shares during the period. Sowell Financial Services LLC boosted its position in Vertex Pharmaceuticals by 0.8% in the first quarter. Sowell Financial Services LLC now owns 2,762 shares of the pharmaceutical company’s stock valued at $325,000 after buying an additional 23 shares during the period. Capital Investment Advisory Services LLC boosted its position in Vertex Pharmaceuticals by 0.4% in the first quarter. Capital Investment Advisory Services LLC now owns 6,463 shares of the pharmaceutical company’s stock valued at $707,000 after buying an additional 25 shares during the period. Finally, First Manhattan Co. boosted its position in Vertex Pharmaceuticals by 1.3% in the first quarter. First Manhattan Co. now owns 2,356 shares of the pharmaceutical company’s stock valued at $205,000 after buying an additional 31 shares during the period. Institutional investors own 94.37% of the company’s stock.

Vertex Pharmaceuticals Company Profile

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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