Vertex Pharmaceuticals Incorporated (VRTX) Receives Consensus Rating of “Buy” from Brokerages

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) has received a consensus rating of “Buy” from the twenty analysts that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $208.55.

A number of analysts recently issued reports on VRTX shares. Maxim Group lowered shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, February 6th. They noted that the move was a valuation call. Oppenheimer lifted their price target on shares of Vertex Pharmaceuticals from $200.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. Citigroup decreased their price target on shares of Vertex Pharmaceuticals from $206.00 to $205.00 and set a “buy” rating for the company in a report on Friday, January 4th. BidaskClub lowered shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, February 7th. Finally, Raymond James lowered shares of Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating and set a $165.71 price target for the company. in a report on Wednesday, January 2nd.

In other Vertex Pharmaceuticals news, CMO Reshma Kewalramani sold 1,488 shares of the business’s stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $186.94, for a total transaction of $278,166.72. Following the completion of the transaction, the chief marketing officer now directly owns 14,038 shares of the company’s stock, valued at approximately $2,624,263.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David Altshuler sold 1,223 shares of the business’s stock in a transaction dated Friday, January 18th. The shares were sold at an average price of $194.62, for a total transaction of $238,020.26. Following the transaction, the executive vice president now directly owns 40,336 shares of the company’s stock, valued at $7,850,192.32. The disclosure for this sale can be found here. Insiders have sold a total of 214,999 shares of company stock valued at $39,289,000 over the last three months. 0.75% of the stock is currently owned by company insiders.



Institutional investors have recently bought and sold shares of the business. Eastern Bank boosted its holdings in shares of Vertex Pharmaceuticals by 43.2% during the 4th quarter. Eastern Bank now owns 3,315 shares of the pharmaceutical company’s stock worth $549,000 after buying an additional 1,000 shares during the period. State Treasurer State of Michigan lifted its holdings in shares of Vertex Pharmaceuticals by 74.8% in the 4th quarter. State Treasurer State of Michigan now owns 133,168 shares of the pharmaceutical company’s stock worth $22,067,000 after purchasing an additional 57,000 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Vertex Pharmaceuticals by 25.6% in the 4th quarter. Canada Pension Plan Investment Board now owns 432,373 shares of the pharmaceutical company’s stock worth $71,643,000 after purchasing an additional 88,000 shares in the last quarter. Biondo Investment Advisors LLC lifted its holdings in shares of Vertex Pharmaceuticals by 8.8% in the 4th quarter. Biondo Investment Advisors LLC now owns 46,020 shares of the pharmaceutical company’s stock worth $7,626,000 after purchasing an additional 3,715 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in shares of Vertex Pharmaceuticals by 3.2% in the 3rd quarter. BlackRock Inc. now owns 19,935,843 shares of the pharmaceutical company’s stock worth $3,842,436,000 after purchasing an additional 625,328 shares in the last quarter. 94.66% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:VRTX traded up $0.45 during trading hours on Friday, hitting $186.11. The company’s stock had a trading volume of 779,307 shares, compared to its average volume of 1,468,322. The firm has a market capitalization of $47.47 billion, a PE ratio of 65.76, a price-to-earnings-growth ratio of 2.31 and a beta of 1.65. Vertex Pharmaceuticals has a 52-week low of $144.07 and a 52-week high of $195.81.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Tuesday, February 5th. The pharmaceutical company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.24. Vertex Pharmaceuticals had a net margin of 68.81% and a return on equity of 24.15%. The company had revenue of $870.11 million during the quarter, compared to the consensus estimate of $818.29 million. During the same quarter in the prior year, the firm posted $0.61 earnings per share. Vertex Pharmaceuticals’s revenue for the quarter was up 33.5% on a year-over-year basis. On average, equities research analysts anticipate that Vertex Pharmaceuticals will post 3.04 EPS for the current fiscal year.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, develops medicines for serious diseases. The company focuses on developing and commercializing therapies for treating 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 treating 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.

Further Reading: What is a Leveraged Buyout (LBO)?

Analyst Recommendations for Vertex Pharmaceuticals (NASDAQ:VRTX)

Receive News & Ratings for Vertex Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vertex Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.