Vertex Pharmaceuticals Incorporated (VRTX) Receives $172.28 Consensus PT from Analysts
Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) have been given an average rating of “Buy” by the thirty brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and twenty-three have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $172.28.
A number of analysts have weighed in on the stock. Oppenheimer Holdings, Inc. increased their price target on shares of Vertex Pharmaceuticals from $150.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. BMO Capital Markets reissued a “buy” rating on shares of Vertex Pharmaceuticals in a report on Wednesday, September 27th. Robert W. Baird reissued a “buy” rating on shares of Vertex Pharmaceuticals in a report on Friday, October 27th. Needham & Company LLC reissued a “buy” rating and issued a $195.00 price target on shares of Vertex Pharmaceuticals in a report on Sunday, September 17th. Finally, Argus increased their price target on shares of Vertex Pharmaceuticals from $71.46 to $175.00 and gave the company a “buy” rating in a report on Tuesday, August 1st.
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In other news, Director Sangeeta N. Bhatia sold 7,073 shares of the firm’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $143.05, for a total value of $1,011,792.65. Following the transaction, the director now owns 11,026 shares of the company’s stock, valued at approximately $1,577,269.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Amit Sachdev sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $145.05, for a total transaction of $5,802,000.00. Following the completion of the transaction, the executive vice president now directly owns 89,810 shares in the company, valued at approximately $13,026,940.50. The disclosure for this sale can be found here. Insiders sold a total of 220,315 shares of company stock worth $32,107,270 in the last ninety days. Insiders own 1.80% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Steward Partners Investment Advisory LLC bought a new position in shares of Vertex Pharmaceuticals in the 3rd quarter valued at about $231,000. Public Employees Retirement System of Ohio boosted its stake in shares of Vertex Pharmaceuticals by 2.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 199,378 shares of the pharmaceutical company’s stock valued at $30,313,000 after purchasing an additional 5,712 shares during the last quarter. Pura Vida Investments LLC bought a new position in shares of Vertex Pharmaceuticals in the 3rd quarter valued at about $4,546,000. Salem Investment Counselors Inc. boosted its stake in shares of Vertex Pharmaceuticals by 873.8% in the 3rd quarter. Salem Investment Counselors Inc. now owns 2,084 shares of the pharmaceutical company’s stock valued at $316,000 after purchasing an additional 1,870 shares during the last quarter. Finally, IFM Investors Pty Ltd bought a new position in shares of Vertex Pharmaceuticals in the 3rd quarter valued at about $1,064,000. 92.42% of the stock is currently owned by institutional investors.
Shares of Vertex Pharmaceuticals (VRTX) traded up $1.93 during trading on Friday, reaching $147.04. 906,988 shares of the company’s stock were exchanged, compared to its average volume of 1,805,590. The company has a current ratio of 3.28, a quick ratio of 3.14 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals has a 12-month low of $71.46 and a 12-month high of $167.85. The company has a market cap of $37,190.00, a P/E ratio of 241.07, a PEG ratio of 3.67 and a beta of 1.63.
Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Wednesday, October 25th. The pharmaceutical company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.49. Vertex Pharmaceuticals had a net margin of 8.53% and a return on equity of 9.23%. The firm had revenue of $578.20 million during the quarter, compared to the consensus estimate of $522.07 million. During the same period in the prior year, the firm earned $0.16 EPS. The business’s revenue was up 39.7% on a year-over-year basis. analysts forecast that Vertex Pharmaceuticals will post 0.72 earnings per share for the current year.
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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