Royal Bank of Canada Analysts Give Vertex Pharmaceuticals (NASDAQ:VRTX) a $213.00 Price Target

Royal Bank of Canada set a $213.00 price target on Vertex Pharmaceuticals (NASDAQ:VRTX) in a research report released on Monday, TipRanks reports. The brokerage currently has a buy rating on the pharmaceutical company’s stock.

Other equities analysts also recently issued reports about the stock. BidaskClub raised shares of Vertex Pharmaceuticals from a sell rating to a hold rating in a report on Tuesday, August 6th. Goldman Sachs Group reissued a buy rating and set a $220.00 price target on shares of Vertex Pharmaceuticals in a report on Thursday, May 23rd. HC Wainwright reissued a buy rating and set a $220.00 price target on shares of Vertex Pharmaceuticals in a report on Thursday, August 1st. ValuEngine downgraded shares of Vertex Pharmaceuticals from a buy rating to a hold rating in a report on Friday, July 26th. Finally, Needham & Company LLC downgraded shares of Vertex Pharmaceuticals from a buy rating to a hold rating in a report on Thursday, August 1st. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $206.95.

Shares of NASDAQ:VRTX traded down $2.91 during midday trading on Monday, reaching $181.00. 789,860 shares of the company’s stock were exchanged, compared to its average volume of 1,324,130. The business has a 50 day moving average price of $176.93. The stock has a market cap of $46.32 billion, a price-to-earnings ratio of 63.96, a PEG ratio of 2.38 and a beta of 1.40. Vertex Pharmaceuticals has a 12 month low of $151.80 and a 12 month high of $195.81. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.74 and a quick ratio of 3.63.



Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Wednesday, July 31st. The pharmaceutical company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.24. Vertex Pharmaceuticals had a net margin of 64.13% and a return on equity of 21.73%. The company had revenue of $941.29 million during the quarter, compared to the consensus estimate of $884.66 million. During the same period last year, the firm earned $0.94 EPS. The firm’s revenue for the quarter was up 25.1% compared to the same quarter last year. As a group, equities research analysts expect that Vertex Pharmaceuticals will post 3.41 EPS for the current year.

Vertex Pharmaceuticals announced that its board has authorized a stock repurchase plan on Wednesday, July 31st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the pharmaceutical company to reacquire up to 1.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

In other Vertex Pharmaceuticals news, CEO Jeffrey M. Leiden sold 56,030 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $175.39, for a total value of $9,827,101.70. Following the completion of the sale, the chief executive officer now owns 162,317 shares in the company, valued at approximately $28,468,778.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey M. Leiden sold 113,432 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $175.10, for a total transaction of $19,861,943.20. Following the completion of the sale, the chief executive officer now owns 219,719 shares of the company’s stock, valued at approximately $38,472,796.90. The disclosure for this sale can be found here. Insiders sold a total of 185,292 shares of company stock valued at $32,507,560 in the last 90 days. Corporate insiders own 0.70% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Next Capital Management LLC grew its position in shares of Vertex Pharmaceuticals by 84.4% during the 2nd quarter. Next Capital Management LLC now owns 166 shares of the pharmaceutical company’s stock worth $30,000 after buying an additional 76 shares during the period. Evolution Wealth Advisors LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter worth approximately $32,000. Patriot Financial Group Insurance Agency LLC grew its position in shares of Vertex Pharmaceuticals by 118.5% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 177 shares of the pharmaceutical company’s stock worth $32,000 after buying an additional 96 shares during the period. FTB Advisors Inc. grew its position in shares of Vertex Pharmaceuticals by 1,618.2% during the 1st quarter. FTB Advisors Inc. now owns 189 shares of the pharmaceutical company’s stock worth $35,000 after buying an additional 178 shares during the period. Finally, Pittenger & Anderson Inc. grew its position in shares of Vertex Pharmaceuticals by 64.7% during the 1st quarter. Pittenger & Anderson Inc. now owns 191 shares of the pharmaceutical company’s stock worth $35,000 after buying an additional 75 shares during the period. Hedge funds and other institutional investors own 94.70% of the company’s stock.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene.

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Analyst Recommendations for Vertex Pharmaceuticals (NASDAQ:VRTX)

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