Vertex Pharmaceuticals Incorporated (VRTX) Receives $202.14 Consensus Price Target from Brokerages

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Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) has been given an average rating of “Buy” by the twenty-six analysts that are currently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, twenty-one have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $202.14.

A number of equities research analysts have issued reports on VRTX shares. BMO Capital Markets cut their target price on Vertex Pharmaceuticals from $204.00 to $192.00 and set an “outperform” rating on the stock in a research note on Thursday, October 25th. HC Wainwright upgraded Vertex Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $220.00 target price on the stock in a research note on Friday, October 26th. Morgan Stanley raised their target price on Vertex Pharmaceuticals from $207.00 to $211.00 and gave the company an “overweight” rating in a research note on Thursday, July 26th. Raymond James set a $201.00 target price on Vertex Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, October 25th. Finally, Oppenheimer raised their target price on Vertex Pharmaceuticals from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, July 26th.

Shares of VRTX opened at $180.42 on Friday. Vertex Pharmaceuticals has a 12-month low of $136.50 and a 12-month high of $194.92. The firm has a market cap of $44.29 billion, a P/E ratio of 225.53, a PEG ratio of 1.72 and a beta of 1.61. The company has a current ratio of 3.71, a quick ratio of 3.59 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Wednesday, October 24th. The pharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.07. Vertex Pharmaceuticals had a return on equity of 22.92% and a net margin of 22.87%. The firm had revenue of $784.54 million for the quarter, compared to analysts’ expectations of $782.95 million. During the same period last year, the business posted $0.53 earnings per share. As a group, analysts predict that Vertex Pharmaceuticals will post 2.55 EPS for the current fiscal year.

In related news, CFO Thomas Graney sold 1,076 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $193.24, for a total transaction of $207,926.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sangeeta N. Bhatia sold 6,818 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, October 3rd. The shares were sold at an average price of $192.13, for a total transaction of $1,309,942.34. Following the sale, the director now owns 6,997 shares in the company, valued at $1,344,333.61. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,425 shares of company stock worth $5,095,719. Company insiders own 0.75% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of VRTX. Fiera Capital Corp grew its holdings in Vertex Pharmaceuticals by 12.7% during the second quarter. Fiera Capital Corp now owns 2,591 shares of the pharmaceutical company’s stock worth $440,000 after acquiring an additional 292 shares during the period. Twin Capital Management Inc. grew its holdings in Vertex Pharmaceuticals by 0.7% during the second quarter. Twin Capital Management Inc. now owns 43,770 shares of the pharmaceutical company’s stock worth $7,439,000 after acquiring an additional 300 shares during the period. Impax Asset Management LLC grew its holdings in Vertex Pharmaceuticals by 11.2% during the second quarter. Impax Asset Management LLC now owns 2,998 shares of the pharmaceutical company’s stock worth $510,000 after acquiring an additional 302 shares during the period. Brown Advisory Inc. grew its holdings in Vertex Pharmaceuticals by 5.0% during the second quarter. Brown Advisory Inc. now owns 6,327 shares of the pharmaceutical company’s stock worth $1,075,000 after acquiring an additional 304 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD grew its holdings in Vertex Pharmaceuticals by 1.8% during the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 17,914 shares of the pharmaceutical company’s stock worth $3,044,000 after acquiring an additional 325 shares during the period. Institutional investors and hedge funds own 93.51% of the company’s stock.

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.

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Analyst Recommendations for Vertex Pharmaceuticals (NASDAQ:VRTX)

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