Vertex Pharmaceuticals Incorporated (VRTX) Given New $175.00 Price Target at Oppenheimer Holdings, Inc.
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) had its target price lifted by Oppenheimer Holdings, Inc. from $150.00 to $175.00 in a research report released on Thursday morning. They currently have an outperform rating on the pharmaceutical company’s stock.
VRTX has been the topic of several other reports. Zacks Investment Research downgraded Vertex Pharmaceuticals from a buy rating to a hold rating in a research note on Monday, April 10th. Jefferies Group LLC started coverage on Vertex Pharmaceuticals in a research note on Monday, July 10th. They set a buy rating and a $155.00 target price on the stock. Credit Suisse Group boosted their target price on Vertex Pharmaceuticals from $125.00 to $195.00 and gave the stock an outperform rating in a research note on Wednesday, July 19th. Maxim Group upgraded Vertex Pharmaceuticals from a hold rating to a buy rating and set a $143.00 target price on the stock in a research note on Friday, March 31st. Finally, Barclays PLC restated an equal weight rating and set a $100.00 target price (up from $90.00) on shares of Vertex Pharmaceuticals in a research note on Sunday, April 23rd. Four research 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 company. Vertex Pharmaceuticals currently has an average rating of Buy and an average target price of $159.60.
Shares of Vertex Pharmaceuticals (NASDAQ:VRTX) opened at 154.15 on Thursday. Vertex Pharmaceuticals has a 12 month low of $71.46 and a 12 month high of $167.85. The firm has a 50-day moving average price of $136.02 and a 200 day moving average price of $110.54. The company has a market cap of $38.66 billion, a P/E ratio of 148.22 and a beta of 1.73.
Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.33. Vertex Pharmaceuticals had a return on equity of 4.64% and a net margin of 12.05%. The firm had revenue of $544.10 million for the quarter, compared to the consensus estimate of $489.95 million. During the same period in the previous year, the business earned $0.24 EPS. The firm’s revenue for the quarter was up 26.1% on a year-over-year basis. Equities analysts predict that Vertex Pharmaceuticals will post $1.60 earnings per share for the current year.
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In related news, SVP Paul M. Silva sold 2,577 shares of the company’s stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $133.36, for a total value of $343,668.72. Following the completion of the transaction, the senior vice president now owns 22,648 shares of the company’s stock, valued at approximately $3,020,337.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey M. Leiden sold 216,624 shares of the company’s stock in a transaction dated Friday, July 21st. The stock was 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 directly owns 400,266 shares of the company’s stock, valued at approximately $64,426,815.36. The disclosure for this sale can be found here. Insiders sold a total of 727,474 shares of company stock valued at $109,161,955 in the last ninety days. 1.80% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Korea Investment CORP boosted its position in Vertex Pharmaceuticals by 225.3% in the first quarter. Korea Investment CORP now owns 950 shares of the pharmaceutical company’s stock worth $104,000 after buying an additional 658 shares during the last quarter. 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 worth $105,000 after buying an additional 6 shares during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co boosted its position in Vertex Pharmaceuticals by 7.1% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,500 shares of the pharmaceutical company’s stock worth $164,000 after buying an additional 100 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in Vertex Pharmaceuticals during the second quarter worth $197,000. Finally, Koshinski Asset Management Inc. acquired a new position in Vertex Pharmaceuticals during the second quarter worth $220,000. 94.37% of the stock is owned by institutional investors.
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.
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