Oppenheimer Weighs in on Vertex Pharmaceuticals Incorporated’s FY2018 Earnings (VRTX)

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) – Equities research analysts at Oppenheimer increased their FY2018 EPS estimates for shares of Vertex Pharmaceuticals in a report issued on Thursday. Oppenheimer analyst H. Singh now forecasts that the pharmaceutical company will post earnings of $2.37 per share for the year, up from their prior forecast of $1.72. Oppenheimer has a “Outperform” rating and a $190.00 price objective on the stock.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Wednesday, October 25th. The pharmaceutical company reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.49. Vertex Pharmaceuticals had a net margin of 8.53% and a return on equity of 9.23%. The company had revenue of $578.20 million during the quarter, compared to the consensus estimate of $522.07 million. During the same quarter in the prior year, the firm posted $0.16 EPS. The firm’s quarterly revenue was up 39.7% on a year-over-year basis.

A number of other analysts also recently weighed in on the stock. Cowen reaffirmed a “buy” rating and set a $200.00 price target on shares of Vertex Pharmaceuticals in a report on Monday, December 11th. Zacks Investment Research downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, October 24th. Deutsche Bank started coverage on shares of Vertex Pharmaceuticals in a report on Tuesday, December 12th. They set a “buy” rating and a $175.00 price target for the company. Royal Bank of Canada upped their price target on shares of Vertex Pharmaceuticals from $175.00 to $181.00 and gave the stock an “outperform” rating in a report on Wednesday, October 18th. Finally, Vetr downgraded shares of Vertex Pharmaceuticals to a “sell” rating in a report on Thursday, September 21st. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. Vertex Pharmaceuticals presently has an average rating of “Buy” and an average target price of $175.89.

Shares of Vertex Pharmaceuticals (NASDAQ:VRTX) traded down $0.88 during trading on Monday, hitting $156.01. 1,487,700 shares of the stock were exchanged, compared to its average volume of 1,624,250. Vertex Pharmaceuticals has a 12 month low of $79.78 and a 12 month high of $167.85. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.14 and a current ratio of 3.28. The company has a market cap of $39,800.00, a P/E ratio of 200.01, a PEG ratio of 1.84 and a beta of 1.58.

Hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its position in shares of Vertex Pharmaceuticals by 15.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 988 shares of the pharmaceutical company’s stock worth $127,000 after buying an additional 132 shares during the period. FNY Partners Fund LP increased its position in shares of Vertex Pharmaceuticals by 900.0% during the second quarter. FNY Partners Fund LP now owns 1,000 shares of the pharmaceutical company’s stock worth $128,000 after buying an additional 900 shares during the period. Smithfield Trust Co. acquired a new stake in shares of Vertex Pharmaceuticals during the third quarter worth $135,000. FNY Managed Accounts LLC acquired a new stake in shares of Vertex Pharmaceuticals during the third quarter worth $162,000. Finally, Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Vertex Pharmaceuticals during the third quarter worth $198,000. 93.09% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Sangeeta N. Bhatia sold 10,753 shares of the firm’s stock in a transaction on Friday, January 5th. The shares were sold at an average price of $156.00, for a total transaction of $1,677,468.00. Following the completion of the transaction, the director now owns 14,706 shares of the company’s stock, valued at $2,294,136. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Amit Sachdev sold 40,000 shares of the firm’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $145.05, for a total transaction of $5,802,000.00. Following the transaction, the executive vice president now directly owns 89,810 shares of the company’s stock, valued at approximately $13,026,940.50. The disclosure for this sale can be found here. Insiders have sold 356,339 shares of company stock valued at $51,479,669 in the last ninety days. Insiders own 1.80% of the company’s stock.

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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.

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