Jefferies Group Comments on Vertex Pharmaceuticals Incorporated’s Q2 2017 Earnings (VRTX)

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) – Stock analysts at Jefferies Group issued their Q2 2017 earnings per share (EPS) estimates for Vertex Pharmaceuticals in a research report issued on Monday. Jefferies Group analyst M. Yee anticipates that the pharmaceutical company will post earnings per share of $0.07 for the quarter. Jefferies Group has a “Buy” rating and a $155.00 price objective on the stock. Jefferies Group also issued estimates for Vertex Pharmaceuticals’ Q3 2017 earnings at $0.09 EPS, Q4 2017 earnings at $0.64 EPS, FY2017 earnings at $0.93 EPS, FY2018 earnings at $1.69 EPS and FY2019 earnings at $2.86 EPS.

A number of other research firms have also weighed in on VRTX. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Sunday, April 30th. Cowen and Company reiterated a “market perform” rating and issued a $105.00 price objective on shares of Vertex Pharmaceuticals in a research note on Thursday, July 6th. Maxim Group upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $143.00 price objective for the company in a research note on Friday, March 31st. Zacks Investment Research upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $144.00 price objective for the company in a research note on Tuesday, July 4th. Finally, Vetr upgraded shares of Vertex Pharmaceuticals from a “strong sell” rating to a “sell” rating and set a $102.09 price objective for the company in a research note on Monday, May 15th. Eight equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $122.16.

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Vertex Pharmaceuticals (VRTX) opened at 130.92 on Thursday. The stock has a 50 day moving average price of $123.78 and a 200 day moving average price of $101.21. The firm has a market cap of $32.61 billion, a P/E ratio of 182.59 and a beta of 1.74. Vertex Pharmaceuticals has a 52-week low of $71.46 and a 52-week high of $137.26.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Thursday, April 27th. The pharmaceutical company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.04 by $0.09. Vertex Pharmaceuticals had a return on equity of 3.00% and a net margin of 8.64%. The company had revenue of $714.72 million for the quarter, compared to the consensus estimate of $692.64 million. During the same quarter in the prior year, the business earned $0.09 earnings per share. The firm’s revenue for the quarter was up 79.5% on a year-over-year basis.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Vertex Pharmaceuticals by 2,699.4% in the first quarter. BlackRock Inc. now owns 19,246,380 shares of the pharmaceutical company’s stock valued at $2,104,591,000 after buying an additional 18,558,874 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Vertex Pharmaceuticals by 3.5% in the first quarter. Vanguard Group Inc. now owns 16,474,890 shares of the pharmaceutical company’s stock valued at $1,801,530,000 after buying an additional 560,796 shares in the last quarter. State Street Corp increased its position in shares of Vertex Pharmaceuticals by 2.0% in the first quarter. State Street Corp now owns 12,013,178 shares of the pharmaceutical company’s stock valued at $1,313,647,000 after buying an additional 239,017 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of Vertex Pharmaceuticals by 1.2% in the first quarter. Clearbridge Investments LLC now owns 8,754,618 shares of the pharmaceutical company’s stock valued at $957,317,000 after buying an additional 105,260 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Vertex Pharmaceuticals by 8.9% in the first quarter. Geode Capital Management LLC now owns 2,339,821 shares of the pharmaceutical company’s stock valued at $255,483,000 after buying an additional 191,154 shares in the last quarter. Hedge funds and other institutional investors own 94.09% of the company’s stock.

In other news, Director Sangeeta N. Bhatia sold 1,176 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $128.44, for a total value of $151,045.44. Following the transaction, the director now owns 5,129 shares in the company, valued at $658,768.76. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Paul M. Silva sold 2,577 shares of the company’s stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $133.36, for a total transaction of $343,668.72. Following the completion of the transaction, the senior vice president now owns 22,648 shares in the company, valued at approximately $3,020,337.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 404,097 shares of company stock worth $50,604,479. Corporate insiders own 1.80% of the company’s stock.

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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