Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $188.18 and last traded at $187.73, with a volume of 21139 shares traded. The stock had previously closed at $182.84.

A number of analysts have issued reports on the stock. BidaskClub upgraded shares of Vertex Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday. Zacks Investment Research downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, September 11th. Argus boosted their price objective on Vertex Pharmaceuticals to $200.00 and gave the stock an “average” rating in a research report on Tuesday, August 28th. They noted that the move was a valuation call. Stifel Nicolaus boosted their price objective on Vertex Pharmaceuticals from $182.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, August 7th. Finally, Citigroup boosted their price objective on Vertex Pharmaceuticals from $203.00 to $206.00 and gave the stock a “buy” rating in a research report on Monday, July 30th. Five investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $196.52.

The company has a quick ratio of 3.55, a current ratio of 3.67 and a debt-to-equity ratio of 0.01. The firm has a market cap of $46.68 billion, a PE ratio of 237.18, a P/E/G ratio of 1.86 and a beta of 1.46.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Wednesday, July 25th. The pharmaceutical company reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.54. The firm had revenue of $752.20 million during the quarter, compared to the consensus estimate of $680.86 million. Vertex Pharmaceuticals had a return on equity of 19.86% and a net margin of 15.84%. The firm’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.39 earnings per share. research analysts predict that Vertex Pharmaceuticals Incorporated will post 2.48 EPS for the current fiscal year.

In related news, EVP David Altshuler sold 2,125 shares of the company’s stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $181.89, for a total value of $386,516.25. Following the completion of the transaction, the executive vice president now directly owns 41,238 shares of the company’s stock, valued at $7,500,779.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Parini sold 4,250 shares of the company’s stock in a transaction that occurred on Thursday, July 5th. The shares were sold at an average price of $168.38, for a total value of $715,615.00. Following the completion of the transaction, the executive vice president now directly owns 43,859 shares of the company’s stock, valued at $7,384,978.42. The disclosure for this sale can be found here. Insiders sold 30,901 shares of company stock valued at $5,435,946 over the last ninety days. 1.80% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Mount Yale Investment Advisors LLC acquired a new position in Vertex Pharmaceuticals in the first quarter valued at approximately $101,000. Kaizen Advisory LLC boosted its holdings in shares of Vertex Pharmaceuticals by 147.3% in the second quarter. Kaizen Advisory LLC now owns 601 shares of the pharmaceutical company’s stock valued at $102,000 after acquiring an additional 358 shares during the period. Sun Life Financial INC boosted its holdings in shares of Vertex Pharmaceuticals by 266.1% in the second quarter. Sun Life Financial INC now owns 692 shares of the pharmaceutical company’s stock valued at $118,000 after acquiring an additional 503 shares during the period. Flagship Harbor Advisors LLC acquired a new stake in shares of Vertex Pharmaceuticals in the second quarter valued at approximately $125,000. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Vertex Pharmaceuticals by 3,126.1% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 742 shares of the pharmaceutical company’s stock valued at $126,000 after acquiring an additional 719 shares during the period. 93.43% of the stock is owned by hedge funds and other institutional investors.

About Vertex Pharmaceuticals (NASDAQ:VRTX)

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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