Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “buy” rating in a report released on Monday. They presently have a $181.00 target price on the pharmaceutical company’s stock. Vetr‘s price objective would suggest a potential upside of 13.79% from the stock’s current price.

Several other brokerages have also recently issued reports on VRTX. Jefferies Group LLC reiterated a “buy” rating and issued a $185.00 price target (up from $155.00) on shares of Vertex Pharmaceuticals in a research note on Wednesday, July 19th. Credit Suisse Group boosted their price target on Vertex Pharmaceuticals from $125.00 to $195.00 and gave the company an “outperform” rating in a research note on Wednesday, July 19th. UBS AG cut Vertex Pharmaceuticals from a “buy” rating to a “neutral” rating and boosted their price target for the company from $135.00 to $174.00 in a research note on Wednesday, July 19th. They noted that the move was a valuation call. Needham & Company LLC reiterated a “buy” rating and issued a $195.00 price target (up from $155.00) on shares of Vertex Pharmaceuticals in a research note on Friday, July 21st. Finally, JMP Securities reiterated an “outperform” rating on shares of Vertex Pharmaceuticals in a research note on Wednesday, July 19th. Six research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $162.88.

Vertex Pharmaceuticals (VRTX) opened at 159.07 on Monday. The firm has a market capitalization of $40.10 billion, a PE ratio of 152.81 and a beta of 1.75. Vertex Pharmaceuticals has a one year low of $71.46 and a one year high of $167.85. The stock has a 50 day moving average price of $154.82 and a 200-day moving average price of $123.92.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.33. The business had revenue of $544.10 million during the quarter, compared to analysts’ expectations of $489.95 million. Vertex Pharmaceuticals had a return on equity of 4.64% and a net margin of 12.05%. The firm’s revenue for the quarter was up 26.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 earnings per share. On average, equities analysts forecast that Vertex Pharmaceuticals will post $1.60 earnings per share for the current year.

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In other Vertex Pharmaceuticals news, SVP Paul M. Silva sold 2,577 shares of the company’s stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $133.36, for a total transaction of $343,668.72. Following the sale, the senior vice president now owns 22,648 shares of the company’s stock, valued at $3,020,337.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey M. Leiden sold 216,624 shares of the company’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $160.96, for a total transaction of $34,867,799.04. Following the sale, the chief executive officer now directly owns 400,266 shares in the company, valued at approximately $64,426,815.36. The disclosure for this sale can be found here. Insiders sold 526,092 shares of company stock valued at $84,101,702 over the last 90 days. 1.80% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Korea Investment CORP boosted its position in Vertex Pharmaceuticals by 225.3% during the first quarter. Korea Investment CORP now owns 950 shares of the pharmaceutical company’s stock valued at $104,000 after acquiring an additional 658 shares during the last quarter. Guardian Life Insurance Co. of America boosted its position in Vertex Pharmaceuticals by 0.6% during the first quarter. Guardian Life Insurance Co. of America now owns 956 shares of the pharmaceutical company’s stock valued at $105,000 after acquiring an additional 6 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Vertex Pharmaceuticals by 15.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 988 shares of the pharmaceutical company’s stock valued at $127,000 after acquiring an additional 132 shares during the last quarter. FNY Partners Fund LP boosted its position in Vertex Pharmaceuticals by 900.0% during the second quarter. FNY Partners Fund LP now owns 1,000 shares of the pharmaceutical company’s stock valued at $128,000 after acquiring an additional 900 shares during the last quarter. Finally, Dupont Capital Management Corp bought a new stake in Vertex Pharmaceuticals during the second quarter valued at $186,000. 92.88% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Company Profile

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.

Analyst Recommendations for Vertex Pharmaceuticals (NASDAQ:VRTX)

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