Vertex Pharmaceuticals Incorporated (VRTX) Given Average Recommendation of “Buy” by Analysts

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Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) has been assigned a consensus recommendation of “Buy” from the twenty-five research firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $204.00.

Several brokerages recently commented on VRTX. Zacks Investment Research raised Vertex Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, January 26th. BidaskClub raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, March 16th. Leerink Swann cut Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating and set a $185.40 target price for the company. in a research report on Tuesday, March 19th. They noted that the move was a valuation call. Svb Leerink reaffirmed a “market perform” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, March 19th. Finally, BMO Capital Markets raised their target price on Vertex Pharmaceuticals to $234.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 6th.

Shares of VRTX stock opened at $169.54 on Friday. The firm has a market capitalization of $43.32 billion, a P/E ratio of 59.91, a PEG ratio of 2.62 and a beta of 1.57. Vertex Pharmaceuticals has a one year low of $144.07 and a one year high of $195.81.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Tuesday, April 30th. The pharmaceutical company reported $1.14 EPS for the quarter, topping the consensus estimate of $0.65 by $0.49. The firm had revenue of $857.00 million during the quarter, compared to analysts’ expectations of $853.00 million. Vertex Pharmaceuticals had a return on equity of 24.92% and a net margin of 66.01%. Vertex Pharmaceuticals’s quarterly revenue was up 34.3% compared to the same quarter last year. During the same period last year, the business earned $0.76 earnings per share. On average, analysts predict that Vertex Pharmaceuticals will post 2.87 EPS for the current year.

In related news, EVP Stuart A. Arbuckle sold 5,624 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $181.75, for a total value of $1,022,162.00. Following the completion of the transaction, the executive vice president now directly owns 36,272 shares of the company’s stock, valued at $6,592,436. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Reshma Kewalramani sold 1,488 shares of Vertex Pharmaceuticals stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $186.94, for a total value 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 $2,624,263.72. The disclosure for this sale can be found here. Insiders sold 204,443 shares of company stock valued at $37,328,294 over the last ninety days. 0.75% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in VRTX. Martingale Asset Management L P increased its position in Vertex Pharmaceuticals by 28.4% in the third quarter. Martingale Asset Management L P now owns 14,012 shares of the pharmaceutical company’s stock worth $2,701,000 after purchasing an additional 3,100 shares during the period. Kentucky Retirement Systems acquired a new stake in Vertex Pharmaceuticals in the third quarter worth about $1,434,000. Neuberger Berman Group LLC increased its position in Vertex Pharmaceuticals by 0.3% in the third quarter. Neuberger Berman Group LLC now owns 249,092 shares of the pharmaceutical company’s stock worth $48,010,000 after purchasing an additional 657 shares during the period. Rehmann Capital Advisory Group increased its position in Vertex Pharmaceuticals by 17,021.0% in the third quarter. Rehmann Capital Advisory Group now owns 64,375 shares of the pharmaceutical company’s stock worth $334,000 after purchasing an additional 63,999 shares during the period. Finally, Waldron Private Wealth LLC acquired a new stake in Vertex Pharmaceuticals in the third quarter worth about $676,000. 95.35% of the stock is owned by institutional investors and hedge funds.

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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