BidaskClub lowered shares of Vertex Pharmaceuticals (NASDAQ:VRTX) from a hold rating to a sell rating in a report released on Thursday.

VRTX has been the topic of several other research reports. Morgan Stanley lifted their price objective on Vertex Pharmaceuticals from $207.00 to $211.00 and gave the stock an overweight rating in a report on Thursday, July 26th. Zacks Investment Research lowered Vertex Pharmaceuticals from a buy rating to a hold rating in a report on Tuesday, September 11th. Jefferies Financial Group lifted their price objective on Vertex Pharmaceuticals to $210.00 and gave the stock a buy rating in a report on Monday, July 16th. Argus set a $172.00 price objective on Vertex Pharmaceuticals and gave the stock a buy rating in a report on Tuesday, June 12th. They noted that the move was a valuation call. Finally, Royal Bank of Canada reaffirmed a buy rating and issued a $203.00 price target on shares of Vertex Pharmaceuticals in a research note on Thursday, July 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-two have given a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $196.52.

Shares of NASDAQ:VRTX opened at $180.08 on Thursday. Vertex Pharmaceuticals has a 1-year low of $136.50 and a 1-year high of $186.44. The company has a market cap of $46.02 billion, a PE ratio of 225.10, a PEG ratio of 1.84 and a beta of 1.46. The company has a current ratio of 3.67, a quick ratio of 3.55 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Wednesday, July 25th. The pharmaceutical company reported $0.94 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.54. Vertex Pharmaceuticals had a return on equity of 19.86% and a net margin of 15.84%. The company had revenue of $752.20 million for the quarter, compared to analyst estimates of $680.86 million. During the same quarter last year, the firm earned $0.39 EPS. Vertex Pharmaceuticals’s revenue for the quarter was up 38.2% compared to the same quarter last year. research analysts expect that Vertex Pharmaceuticals will post 2.48 EPS for the current year.

In related news, EVP Amit Sachdev sold 4,096 shares of the business’s stock in a transaction on Friday, June 29th. The stock was sold at an average price of $167.63, for a total value of $686,612.48. Following the sale, the executive vice president now owns 48,603 shares of the company’s stock, valued at approximately $8,147,320.89. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Ian F. Smith sold 23,375 shares of the business’s stock in a transaction on Friday, June 29th. The shares were sold at an average price of $166.30, for a total value of $3,887,262.50. Following the completion of the sale, the chief operating officer now directly owns 70,074 shares in the company, valued at approximately $11,653,306.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,329 shares of company stock worth $10,502,221. 1.80% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Royal London Asset Management Ltd. bought a new position in Vertex Pharmaceuticals in the 2nd quarter valued at $17,866,000. HRT Financial LLC raised its position in Vertex Pharmaceuticals by 178.9% in the 2nd quarter. HRT Financial LLC now owns 5,368 shares of the pharmaceutical company’s stock valued at $912,000 after purchasing an additional 3,443 shares during the last quarter. Schroder Investment Management Group raised its position in Vertex Pharmaceuticals by 7.3% in the 2nd quarter. Schroder Investment Management Group now owns 27,309 shares of the pharmaceutical company’s stock valued at $4,031,000 after purchasing an additional 1,849 shares during the last quarter. Bain Capital Public Equity Management LLC raised its position in Vertex Pharmaceuticals by 168.8% in the 2nd quarter. Bain Capital Public Equity Management LLC now owns 241,408 shares of the pharmaceutical company’s stock valued at $41,030,000 after purchasing an additional 151,614 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its position in Vertex Pharmaceuticals by 21.1% in the 2nd quarter. Advisors Asset Management Inc. now owns 15,434 shares of the pharmaceutical company’s stock valued at $2,623,000 after purchasing an additional 2,694 shares during the last quarter. Hedge funds and other institutional investors own 93.43% of the company’s stock.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Incorporated, a biotechnology company, develops medicines for serious diseases. The company focuses on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs. It markets ORKAMBI (lumacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are homozygous for the F508del mutation in their cystic fibrosis transmembrane conductance regulator (CFTR) gene; KALYDECO (ivacaftor) for the treatment of patients with CF who have specific mutations in their CFTR gene, including the G551D mutation; and SYMDEKO (tezacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are F508del homozygous or who have 1 mutation that is responsive to tezacaftor/ivacaftor.

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Analyst Recommendations for Vertex Pharmaceuticals (NASDAQ:VRTX)

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