ValuEngine upgraded shares of Vertex Pharmaceuticals (NASDAQ:VRTX) from a hold rating to a buy rating in a report issued on Thursday, ValuEngine reports.

VRTX has been the subject of a number of other research reports. Goldman Sachs Group reiterated a buy rating and issued a $220.00 target price on shares of Vertex Pharmaceuticals in a research note on Thursday, May 23rd. HC Wainwright reiterated a buy rating and issued a $220.00 target price on shares of Vertex Pharmaceuticals in a research note on Thursday, August 1st. Maxim Group reiterated a hold rating on shares of Vertex Pharmaceuticals in a research note on Friday, August 2nd. BidaskClub upgraded Vertex Pharmaceuticals from a sell rating to a hold rating in a research note on Tuesday, August 6th. Finally, Citigroup reiterated a buy rating and issued a $205.00 target price on shares of Vertex Pharmaceuticals in a research note on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $206.95.

Shares of NASDAQ:VRTX opened at $184.94 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.74 and a quick ratio of 3.63. Vertex Pharmaceuticals has a 12 month low of $151.80 and a 12 month high of $195.81. The firm has a market capitalization of $46.55 billion, a PE ratio of 65.35, a P/E/G ratio of 2.36 and a beta of 1.40. The business has a 50-day moving average of $177.09 and a two-hundred day moving average of $178.45.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Wednesday, July 31st. The pharmaceutical company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.24. Vertex Pharmaceuticals had a return on equity of 21.73% and a net margin of 64.13%. The business had revenue of $941.29 million during the quarter, compared to analyst estimates of $884.66 million. During the same quarter last year, the firm earned $0.94 earnings per share. The company’s revenue for the quarter was up 25.1% compared to the same quarter last year. As a group, research analysts anticipate that Vertex Pharmaceuticals will post 3.41 earnings per share for the current year.

Vertex Pharmaceuticals declared that its Board of Directors has approved a share repurchase plan on Wednesday, July 31st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the pharmaceutical company to reacquire up to 1.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

In related news, Director Margaret G. Mcglynn sold 10,000 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $185.00, for a total value of $1,850,000.00. Following the completion of the transaction, the director now owns 14,124 shares of the company’s stock, valued at $2,612,940. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey M. Leiden sold 113,432 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $175.10, for a total value of $19,861,943.20. Following the completion of the transaction, the chief executive officer now directly owns 219,719 shares of the company’s stock, valued at approximately $38,472,796.90. The disclosure for this sale can be found here. Insiders sold 195,292 shares of company stock valued at $34,357,560 in the last three months. 0.70% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of VRTX. Next Capital Management LLC lifted its holdings in Vertex Pharmaceuticals by 84.4% during the 2nd quarter. Next Capital Management LLC now owns 166 shares of the pharmaceutical company’s stock worth $30,000 after buying an additional 76 shares during the last quarter. Evolution Wealth Advisors LLC bought a new position in Vertex Pharmaceuticals during the 2nd quarter worth approximately $32,000. Patriot Financial Group Insurance Agency LLC lifted its holdings in Vertex Pharmaceuticals by 118.5% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 177 shares of the pharmaceutical company’s stock worth $32,000 after buying an additional 96 shares during the last quarter. FTB Advisors Inc. lifted its holdings in Vertex Pharmaceuticals by 1,618.2% during the 1st quarter. FTB Advisors Inc. now owns 189 shares of the pharmaceutical company’s stock worth $35,000 after buying an additional 178 shares during the last quarter. Finally, Pittenger & Anderson Inc. lifted its holdings in Vertex Pharmaceuticals by 64.7% during the 1st quarter. Pittenger & Anderson Inc. now owns 191 shares of the pharmaceutical company’s stock worth $35,000 after buying an additional 75 shares during the last quarter. 94.70% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene.

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Analyst Recommendations for Vertex Pharmaceuticals (NASDAQ:VRTX)

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