Jefferies Financial Group Increases Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target to $340.00

Vertex Pharmaceuticals (NASDAQ:VRTX) had its target price lifted by analysts at Jefferies Financial Group from $295.00 to $340.00 in a research report issued on Tuesday, The Fly reports. The brokerage currently has a “buy” rating on the pharmaceutical company’s stock. Jefferies Financial Group’s price target would indicate a potential upside of 19.37% from the company’s current price.

A number of other research analysts have also commented on the company. Argus upped their price target on Vertex Pharmaceuticals from $270.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Royal Bank of Canada lowered shares of Vertex Pharmaceuticals from an “outperform” rating to a “sector perform” rating and upped their target price for the stock from $250.00 to $260.00 in a report on Tuesday, April 28th. They noted that the move was a valuation call. Cfra increased their target price on Vertex Pharmaceuticals from $286.00 to $297.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. BidaskClub upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, June 24th. Finally, JMP Securities raised their price objective on shares of Vertex Pharmaceuticals from $255.00 to $285.00 and gave the company a “market outperform” rating in a research report on Thursday, April 30th. Nine investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $289.73.

Shares of Vertex Pharmaceuticals stock opened at $284.82 on Tuesday. Vertex Pharmaceuticals has a 12-month low of $165.23 and a 12-month high of $306.08. The firm has a market capitalization of $76.34 billion, a PE ratio of 49.36, a price-to-earnings-growth ratio of 1.41 and a beta of 0.94. The company has a quick ratio of 3.42, a current ratio of 3.54 and a debt-to-equity ratio of 0.08. The stock’s fifty day moving average is $283.21 and its 200-day moving average is $251.59.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Wednesday, April 29th. The pharmaceutical company reported $2.56 EPS for the quarter, topping the consensus estimate of $1.84 by $0.72. Vertex Pharmaceuticals had a net margin of 31.35% and a return on equity of 25.69%. The business had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the company posted $1.14 earnings per share. The firm’s quarterly revenue was up 76.8% compared to the same quarter last year. Analysts expect that Vertex Pharmaceuticals will post 7.35 EPS for the current year.

In related news, Chairman Jeffrey M. Leiden sold 94,372 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $269.94, for a total value of $25,474,777.68. Following the completion of the sale, the chairman now owns 76,707 shares in the company, valued at approximately $20,706,287.58. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Amit Sachdev sold 13,356 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $270.01, for a total value of $3,606,253.56. Following the sale, the executive vice president now directly owns 67,603 shares in the company, valued at approximately $18,253,486.03. The disclosure for this sale can be found here. Insiders sold a total of 305,351 shares of company stock worth $84,413,422 over the last quarter. 0.48% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. OmniStar Financial Group Inc. acquired a new stake in shares of Vertex Pharmaceuticals during the first quarter worth about $26,000. CX Institutional increased its stake in Vertex Pharmaceuticals by 103.8% during the 1st quarter. CX Institutional now owns 108 shares of the pharmaceutical company’s stock worth $26,000 after purchasing an additional 55 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Vertex Pharmaceuticals during the 1st quarter worth approximately $28,000. Manchester Financial Inc. acquired a new stake in Vertex Pharmaceuticals during the 2nd quarter worth approximately $30,000. Finally, Americana Partners LLC bought a new position in Vertex Pharmaceuticals in the fourth quarter valued at approximately $37,000. Institutional investors own 93.42% of the company’s stock.

About Vertex Pharmaceuticals

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.

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Analyst Recommendations for Vertex Pharmaceuticals (NASDAQ:VRTX)

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