Vertex Pharmaceuticals (NASDAQ:VRTX)‘s stock had its “outperform” rating reissued by equities research analysts at JMP Securities in a report released on Tuesday. They presently have a $211.00 price objective on the pharmaceutical company’s stock, up from their previous price objective of $200.00. JMP Securities’ price target points to a potential upside of 34.17% from the company’s current price.
A number of other research analysts have also recently issued reports on the company. Leerink Swann reiterated an “outperform” rating and issued a $190.00 target price (up previously from $175.00) on shares of Vertex Pharmaceuticals in a research report on Thursday, February 1st. BMO Capital Markets lifted their target price on Vertex Pharmaceuticals from $184.00 to $191.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Jefferies Group reiterated a “buy” rating and issued a $195.00 target price on shares of Vertex Pharmaceuticals in a research report on Thursday, February 1st. Royal Bank of Canada lifted their target price on Vertex Pharmaceuticals to $200.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Finally, Barclays lifted their target price on Vertex Pharmaceuticals from $180.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twenty-five have given a buy rating to the company. Vertex Pharmaceuticals has an average rating of “Buy” and an average target price of $183.11.
Vertex Pharmaceuticals (VRTX) opened at $157.26 on Tuesday. The company has a market capitalization of $39,770.00, a PE ratio of 80.65, a P/E/G ratio of 2.21 and a beta of 1.61. Vertex Pharmaceuticals has a 52 week low of $84.39 and a 52 week high of $174.96. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.79 and a quick ratio of 4.58.
Vertex Pharmaceuticals announced that its board has authorized a stock buyback program on Wednesday, January 31st that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the pharmaceutical company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
In related news, CFO Thomas Graney sold 777 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $149.95, for a total value of $116,511.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Paul M. Silva sold 1,289 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $152.31, for a total value of $196,327.59. Following the completion of the transaction, the senior vice president now directly owns 17,923 shares in the company, valued at $2,729,852.13. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 448,320 shares of company stock worth $69,007,823. Company insiders own 1.80% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Achmea Investment Management B.V. lifted its stake in shares of Vertex Pharmaceuticals by 68.0% in the second quarter. Achmea Investment Management B.V. now owns 8,668 shares of the pharmaceutical company’s stock worth $1,116,000 after acquiring an additional 3,507 shares during the period. Picton Mahoney Asset Management acquired a new position in shares of Vertex Pharmaceuticals in the third quarter worth approximately $13,077,000. IFM Investors Pty Ltd acquired a new position in shares of Vertex Pharmaceuticals in the third quarter worth approximately $1,064,000. Icon Advisers Inc. Co. lifted its stake in shares of Vertex Pharmaceuticals by 93.1% in the third quarter. Icon Advisers Inc. Co. now owns 54,463 shares of the pharmaceutical company’s stock worth $8,281,000 after acquiring an additional 26,253 shares during the period. Finally, Sanders Morris Harris LLC acquired a new position in shares of Vertex Pharmaceuticals in the third quarter worth approximately $1,117,000. 92.84% of the stock is currently owned by institutional investors.
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About Vertex Pharmaceuticals
Vertex Pharmaceuticals Incorporated is engaged in discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company is focused on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs in other indications.
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