Vertex Pharmaceuticals’ (VRTX) “Buy” Rating Reiterated at Cowen
Cowen reissued their buy rating on shares of Vertex Pharmaceuticals (NASDAQ:VRTX) in a research report released on Monday. Cowen currently has a $200.00 price target on the pharmaceutical company’s stock.
A number of other brokerages have also issued reports on VRTX. Maxim Group reaffirmed a buy rating and set a $195.00 target price on shares of Vertex Pharmaceuticals in a research report on Thursday, October 26th. Royal Bank of Canada started coverage on Vertex Pharmaceuticals in a research report on Thursday, September 14th. They set an outperform rating and a $175.00 target price on the stock. Zacks Investment Research raised Vertex Pharmaceuticals from a hold rating to a strong-buy rating and set a $174.00 price objective for the company in a report on Tuesday, September 26th. DA Davidson started coverage on Vertex Pharmaceuticals in a report on Friday, September 29th. They issued a buy rating and a $200.00 price objective for the company. Finally, Vetr lowered Vertex Pharmaceuticals to a sell rating in a report on Thursday, September 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-four have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $173.22.
Shares of Vertex Pharmaceuticals (NASDAQ:VRTX) opened at $142.53 on Monday. Vertex Pharmaceuticals has a 52-week low of $71.46 and a 52-week high of $167.85. The stock has a market capitalization of $35,636.54, a PE ratio of 234.85, a PEG ratio of 3.37 and a beta of 1.58. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.14 and a current ratio of 3.28.
Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Wednesday, October 25th. The pharmaceutical company reported $0.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.49. Vertex Pharmaceuticals had a return on equity of 9.23% and a net margin of 8.53%. The business had revenue of $578.20 million for the quarter, compared to analyst estimates of $522.07 million. During the same period in the previous year, the company earned $0.16 earnings per share. The company’s revenue for the quarter was up 39.7% compared to the same quarter last year. research analysts predict that Vertex Pharmaceuticals will post 0.76 EPS for the current year.
In other Vertex Pharmaceuticals news, EVP Amit Sachdev sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $145.05, for a total value of $5,802,000.00. Following the completion of the sale, the executive vice president now directly owns 89,810 shares in the company, valued at $13,026,940.50. 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 125,000 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $141.35, for a total value of $17,668,750.00. Following the completion of the sale, the chief executive officer now owns 237,407 shares of the company’s stock, valued at $33,557,479.45. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 343,519 shares of company stock valued at $49,488,660. Insiders own 1.80% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in VRTX. Jennison Associates LLC lifted its position in Vertex Pharmaceuticals by 253.8% in the second quarter. Jennison Associates LLC now owns 5,055,122 shares of the pharmaceutical company’s stock worth $651,454,000 after purchasing an additional 3,626,368 shares during the period. Old Mutual Global Investors UK Ltd. increased its holdings in shares of Vertex Pharmaceuticals by 1,384.7% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 1,195,455 shares of the pharmaceutical company’s stock valued at $154,058,000 after buying an additional 1,114,939 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Vertex Pharmaceuticals by 8,061.1% in the third quarter. Point72 Asset Management L.P. now owns 909,230 shares of the pharmaceutical company’s stock valued at $138,239,000 after buying an additional 898,089 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Vertex Pharmaceuticals by 9,422.3% in the third quarter. Assenagon Asset Management S.A. now owns 893,380 shares of the pharmaceutical company’s stock valued at $135,829,000 after buying an additional 883,998 shares in the last quarter. Finally, AJO LP bought a new position in shares of Vertex Pharmaceuticals in the second quarter valued at $71,956,000. Hedge funds and other institutional investors own 93.33% of the company’s stock.
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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.
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