Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)‘s stock had its “hold” rating reiterated by Credit Suisse Group AG in a report released on Tuesday. They currently have a $108.00 price target on the pharmaceutical company’s stock. Credit Suisse Group AG’s price target indicates a potential downside of 7.46% from the company’s previous close.
VRTX has been the topic of a number of other research reports. Vetr raised Vertex Pharmaceuticals from a “buy” rating to a “strong-buy” rating and set a $90.91 target price on the stock in a report on Monday, January 9th. Zacks Investment Research lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, January 12th. Stifel Nicolaus dropped their price objective on Vertex Pharmaceuticals from $108.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, January 26th. Maxim Group reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, February 3rd. Finally, Jefferies Group LLC reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a report on Sunday, January 8th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $108.31.
Shares of Vertex Pharmaceuticals (NASDAQ:VRTX) traded down 0.48% during midday trading on Tuesday, reaching $116.70. 1,637,597 shares of the company traded hands. The firm’s market capitalization is $28.99 billion. Vertex Pharmaceuticals has a 1-year low of $71.46 and a 1-year high of $117.99. The stock has a 50 day moving average price of $101.25 and a 200 day moving average price of $87.44.
Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Wednesday, January 25th. The pharmaceutical company reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.06. The business had revenue of $458.71 million for the quarter, compared to analyst estimates of $453.40 million. Vertex Pharmaceuticals had a negative return on equity of 2.15% and a negative net margin of 6.76%. During the same quarter in the previous year, the company posted $0.17 earnings per share. Analysts expect that Vertex Pharmaceuticals will post $1.62 earnings per share for the current fiscal year.
In other Vertex Pharmaceuticals news, SVP Paul M. Silva sold 1,688 shares of the firm’s stock in a transaction that occurred on Wednesday, March 29th. The stock was sold at an average price of $106.30, for a total transaction of $179,434.40. Following the completion of the sale, the senior vice president now owns 21,759 shares in the company, valued at approximately $2,312,981.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CMO Jeffrey Chodakewitz sold 8,021 shares of the firm’s stock in a transaction that occurred on Wednesday, April 5th. The shares were sold at an average price of $114.00, for a total value of $914,394.00. Following the sale, the chief marketing officer now owns 130,532 shares of the company’s stock, valued at approximately $14,880,648. The disclosure for this sale can be found here. In the last quarter, insiders sold 106,250 shares of company stock valued at $11,473,856. Insiders own 1.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FUKOKU MUTUAL LIFE INSURANCE Co increased its position in Vertex Pharmaceuticals by 7.7% in the fourth quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,400 shares of the pharmaceutical company’s stock worth $103,000 after buying an additional 100 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in Vertex Pharmaceuticals during the third quarter worth approximately $107,000. Global X Management Co. LLC increased its position in Vertex Pharmaceuticals by 158.6% in the third quarter. Global X Management Co. LLC now owns 1,557 shares of the pharmaceutical company’s stock worth $136,000 after buying an additional 955 shares in the last quarter. First Manhattan Co. increased its position in Vertex Pharmaceuticals by 175.2% in the third quarter. First Manhattan Co. now owns 2,356 shares of the pharmaceutical company’s stock worth $205,000 after buying an additional 1,500 shares in the last quarter. Finally, Oakmont Partners LLC purchased a new position in Vertex Pharmaceuticals during the first quarter worth approximately $219,000. 94.85% of the stock is currently owned by institutional investors.
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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