Vertex Pharmaceuticals (VRTX) Rating Increased to Hold at BidaskClub

Vertex Pharmaceuticals (NASDAQ:VRTX) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Friday.

Other equities analysts have also recently issued reports about the stock. TheStreet raised shares of Vertex Pharmaceuticals from a “c+” rating to a “b-” rating in a research note on Friday, March 2nd. JPMorgan Chase reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, January 9th. Bank of America raised shares of Vertex Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $180.00 price target for the company in a research note on Friday, January 5th. Citigroup reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Thursday, February 1st. Finally, BMO Capital Markets lifted their price target on shares of Vertex Pharmaceuticals from $184.00 to $191.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-five have given a buy rating to the company. Vertex Pharmaceuticals has a consensus rating of “Buy” and an average target price of $183.96.

Shares of NASDAQ:VRTX opened at $161.98 on Friday. Vertex Pharmaceuticals has a 52 week low of $113.22 and a 52 week high of $178.25. The firm has a market capitalization of $41,078.85, a price-to-earnings ratio of 202.48, a price-to-earnings-growth ratio of 2.20 and a beta of 1.49. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.28 and a quick ratio of 3.14.



Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Wednesday, January 31st. The pharmaceutical company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.08. Vertex Pharmaceuticals had a net margin of 10.59% and a return on equity of 11.02%. The business had revenue of $651.63 million during the quarter, compared to analysts’ expectations of $592.49 million. During the same period last year, the company posted $0.35 EPS. The business’s revenue was up 42.1% on a year-over-year basis. research analysts expect that Vertex Pharmaceuticals will post 1.74 EPS for the current fiscal year.

Vertex Pharmaceuticals declared that its board has approved a stock repurchase program on Wednesday, January 31st that permits the company to buyback $500.00 million in shares. This buyback authorization permits the pharmaceutical company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

In related news, EVP Stuart A. Arbuckle sold 2,125 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $158.28, for a total transaction of $336,345.00. Following the completion of the transaction, the executive vice president now owns 44,077 shares in the company, valued at approximately $6,976,507.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Paul M. Silva sold 5,435 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $164.03, for a total transaction of $891,503.05. Following the transaction, the senior vice president now owns 19,061 shares of the company’s stock, valued at approximately $3,126,575.83. The disclosure for this sale can be found here. In the last quarter, insiders have sold 339,897 shares of company stock valued at $54,447,919. 1.80% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisory Services Network LLC grew its position in Vertex Pharmaceuticals by 337.6% during the 4th quarter. Advisory Services Network LLC now owns 792 shares of the pharmaceutical company’s stock worth $119,000 after purchasing an additional 611 shares during the last quarter. Whittier Trust Co. grew its position in Vertex Pharmaceuticals by 153.5% during the 4th quarter. Whittier Trust Co. now owns 991 shares of the pharmaceutical company’s stock worth $149,000 after purchasing an additional 600 shares during the last quarter. Baldwin Brothers Inc. MA purchased a new stake in Vertex Pharmaceuticals during the 4th quarter worth approximately $184,000. SeaCrest Wealth Management LLC purchased a new stake in Vertex Pharmaceuticals during the 4th quarter worth approximately $184,000. Finally, Checchi Capital Advisers LLC purchased a new stake in Vertex Pharmaceuticals during the 4th quarter worth approximately $201,000. Hedge funds and other institutional investors own 94.48% of the company’s stock.

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Vertex Pharmaceuticals Company Profile

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.

Analyst Recommendations for Vertex Pharmaceuticals (NASDAQ:VRTX)

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