Vertex Pharmaceuticals (NASDAQ:VRTX) Hits New 52-Week High at $223.80

Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $223.80 and last traded at $223.47, with a volume of 40215 shares traded. The stock had previously closed at $221.13.

VRTX has been the topic of several recent analyst reports. BMO Capital Markets increased their target price on shares of Vertex Pharmaceuticals to $248.00 and gave the stock a “positive” rating in a research note on Wednesday, November 20th. ValuEngine lowered shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday. Robert W. Baird set a $210.00 target price on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday, October 21st. Morgan Stanley increased their target price on shares of Vertex Pharmaceuticals from $215.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Finally, Jefferies Financial Group set a $220.00 target price on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $219.07.

The company has a current ratio of 3.44, a quick ratio of 3.32 and a debt-to-equity ratio of 0.12. The firm’s 50-day moving average is $202.90 and its two-hundred day moving average is $182.35. The stock has a market cap of $57.02 billion, a price-to-earnings ratio of 79.12, a P/E/G ratio of 2.03 and a beta of 1.49.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Wednesday, October 30th. The pharmaceutical company reported $1.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.36. The company had revenue of $949.83 million during the quarter, compared to the consensus estimate of $942.90 million. Vertex Pharmaceuticals had a net margin of 59.24% and a return on equity of 20.33%. Vertex Pharmaceuticals’s quarterly revenue was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.09 EPS. On average, analysts predict that Vertex Pharmaceuticals Incorporated will post 3.72 earnings per share for the current year.

In other Vertex Pharmaceuticals news, EVP Amit Sachdev sold 5,000 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $220.00, for a total value of $1,100,000.00. Following the completion of the sale, the executive vice president now owns 38,416 shares in the company, valued at approximately $8,451,520. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey M. Leiden sold 107,831 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $190.00, for a total transaction of $20,487,890.00. Following the completion of the sale, the chief executive officer now owns 178,707 shares of the company’s stock, valued at approximately $33,954,330. The disclosure for this sale can be found here. In the last quarter, insiders sold 290,475 shares of company stock valued at $56,792,441. 0.70% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Next Capital Management LLC raised its holdings in Vertex Pharmaceuticals by 84.4% in the 2nd quarter. Next Capital Management LLC now owns 166 shares of the pharmaceutical company’s stock valued at $30,000 after acquiring an additional 76 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Vertex Pharmaceuticals by 118.5% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 177 shares of the pharmaceutical company’s stock worth $32,000 after buying an additional 96 shares during the last quarter. HM Payson & Co. acquired a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter worth approximately $35,000. Captrust Financial Advisors increased its holdings in shares of Vertex Pharmaceuticals by 204.1% during the 2nd quarter. Captrust Financial Advisors now owns 222 shares of the pharmaceutical company’s stock worth $41,000 after buying an additional 149 shares during the last quarter. Finally, Motco acquired a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter worth approximately $44,000. Institutional investors own 94.87% of the company’s stock.

Vertex Pharmaceuticals Company Profile (NASDAQ:VRTX)

Vertex Pharmaceuticals Incorporated 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.

Further Reading: What is a Fibonacci Channel?

Receive News & Ratings for Vertex Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vertex Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.