Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) has earned an average rating of “Buy” from the thirty-one analysts that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and twenty-four have assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $173.80.

VRTX has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, October 24th. DA Davidson initiated coverage on Vertex Pharmaceuticals in a report on Friday, September 29th. They set a “buy” rating and a $200.00 target price on the stock. Jefferies Group reiterated a “buy” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, August 22nd. Needham & Company LLC reiterated a “buy” rating and set a $195.00 target price on shares of Vertex Pharmaceuticals in a report on Sunday, September 17th. Finally, BMO Capital Markets reiterated a “buy” rating on shares of Vertex Pharmaceuticals in a report on Wednesday, September 27th.

Vertex Pharmaceuticals (VRTX) opened at $144.80 on Thursday. Vertex Pharmaceuticals has a twelve month low of $71.46 and a twelve month high of $167.85. The company has a current ratio of 3.28, a quick ratio of 3.14 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $35,636.54, a P/E ratio of 234.85, a price-to-earnings-growth ratio of 3.37 and a beta of 1.58.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Wednesday, October 25th. The pharmaceutical company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.49. Vertex Pharmaceuticals had a return on equity of 9.23% and a net margin of 8.53%. The firm had revenue of $578.20 million for the quarter, compared to the consensus estimate of $522.07 million. During the same quarter in the prior year, the business earned $0.16 EPS. The business’s revenue for the quarter was up 39.7% on a year-over-year basis. sell-side analysts expect that Vertex Pharmaceuticals will post 0.76 earnings per share for the current fiscal year.

In related news, CMO Jeffrey Chodakewitz sold 3,437 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $151.64, for a total value of $521,186.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Michael Parini sold 2,125 shares of the company’s stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $152.93, for a total value of $324,976.25. The disclosure for this sale can be found here. Insiders sold a total of 343,519 shares of company stock worth $49,488,660 over the last ninety days. 1.80% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Achmea Investment Management B.V. lifted its holdings in shares of Vertex Pharmaceuticals by 68.0% during the 2nd quarter. Achmea Investment Management B.V. now owns 8,668 shares of the pharmaceutical company’s stock valued at $1,116,000 after buying an additional 3,507 shares during the period. NorthCoast Asset Management LLC bought a new position in shares of Vertex Pharmaceuticals during the 2nd quarter valued at $782,000. Delta Lloyd Asset Management N.V. bought a new position in shares of Vertex Pharmaceuticals during the 2nd quarter valued at $3,285,000. Picton Mahoney Asset Management bought a new position in shares of Vertex Pharmaceuticals during the 3rd quarter valued at $13,077,000. Finally, Prudential Financial Inc. lifted its holdings in shares of Vertex Pharmaceuticals by 12.8% during the 2nd quarter. Prudential Financial Inc. now owns 444,725 shares of the pharmaceutical company’s stock valued at $57,312,000 after buying an additional 50,350 shares during the period. 93.33% of the stock is currently owned by institutional investors and hedge funds.

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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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