Vertex Pharmaceuticals (NASDAQ:VRTX – Get Rating) was downgraded by Jefferies Financial Group from a “buy” rating to a “hold” rating in a note issued to investors on Monday, The Fly reports.
A number of other brokerages have also weighed in on VRTX. Argus raised their target price on Vertex Pharmaceuticals from $320.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, November 17th. Wells Fargo & Company raised their price target on Vertex Pharmaceuticals from $305.00 to $335.00 and gave the company an “overweight” rating in a report on Friday, October 28th. Royal Bank of Canada raised their price target on Vertex Pharmaceuticals from $281.00 to $288.00 and gave the company a “sector perform” rating in a report on Friday, October 28th. StockNews.com started coverage on Vertex Pharmaceuticals in a report on Wednesday, October 12th. They issued a “strong-buy” rating on the stock. Finally, Robert W. Baird raised their price target on Vertex Pharmaceuticals to $280.00 in a report on Tuesday, November 1st. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $305.33.
Vertex Pharmaceuticals Stock Performance
Shares of NASDAQ:VRTX opened at $304.80 on Monday. Vertex Pharmaceuticals has a twelve month low of $210.35 and a twelve month high of $324.75. The firm has a market cap of $78.24 billion, a PE ratio of 24.04, a price-to-earnings-growth ratio of 2.57 and a beta of 0.43. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.55 and a current ratio of 4.70. The business has a fifty day moving average of $308.26 and a 200-day moving average of $292.44.
Vertex Pharmaceuticals (NASDAQ:VRTX – Get Rating) last announced its earnings results on Thursday, October 27th. The pharmaceutical company reported $3.62 earnings per share for the quarter, beating analysts’ consensus estimates of $3.31 by $0.31. Vertex Pharmaceuticals had a return on equity of 29.65% and a net margin of 37.62%. The company had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.23 billion. On average, equities research analysts predict that Vertex Pharmaceuticals will post 13.05 EPS for the current fiscal year.
Insider Activity
In other news, EVP Bastiano Sanna sold 1,791 shares of Vertex Pharmaceuticals stock in a transaction dated Tuesday, October 18th. The stock was sold at an average price of $300.31, for a total transaction of $537,855.21. Following the transaction, the executive vice president now owns 39,192 shares in the company, valued at approximately $11,769,749.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Sangeeta N. Bhatia sold 621 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, October 24th. The stock was sold at an average price of $310.00, for a total transaction of $192,510.00. Following the transaction, the director now owns 4,040 shares in the company, valued at approximately $1,252,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Bastiano Sanna sold 1,791 shares of Vertex Pharmaceuticals stock in a transaction dated Tuesday, October 18th. The shares were sold at an average price of $300.31, for a total value of $537,855.21. Following the transaction, the executive vice president now owns 39,192 shares in the company, valued at approximately $11,769,749.52. The disclosure for this sale can be found here. Insiders have sold 3,715 shares of company stock worth $1,125,226 in the last 90 days. Corporate insiders own 0.40% of the company’s stock.
Institutional Investors Weigh In On Vertex Pharmaceuticals
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Centaurus Financial Inc. raised its position in Vertex Pharmaceuticals by 27.4% in the 3rd quarter. Centaurus Financial Inc. now owns 456 shares of the pharmaceutical company’s stock valued at $132,000 after buying an additional 98 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in Vertex Pharmaceuticals by 33.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 339,030 shares of the pharmaceutical company’s stock valued at $98,162,000 after buying an additional 85,003 shares during the last quarter. Toroso Investments LLC raised its position in Vertex Pharmaceuticals by 49.4% in the 3rd quarter. Toroso Investments LLC now owns 25,029 shares of the pharmaceutical company’s stock valued at $7,247,000 after buying an additional 8,281 shares during the last quarter. CVA Family Office LLC raised its position in Vertex Pharmaceuticals by 17.0% in the 3rd quarter. CVA Family Office LLC now owns 275 shares of the pharmaceutical company’s stock valued at $80,000 after buying an additional 40 shares during the last quarter. Finally, IHT Wealth Management LLC acquired a new stake in Vertex Pharmaceuticals in the 3rd quarter valued at approximately $644,000. Institutional investors and hedge funds own 91.33% of the company’s stock.
About Vertex Pharmaceuticals
Vertex Pharmaceuticals Incorporated, a biotechnology company, 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; and TRIKAFTA for the treatment of patients with CF 6 years of age or older who have at least one F508del mutation.