BidaskClub Lowers Vertex Pharmaceuticals (NASDAQ:VRTX) to Buy

Vertex Pharmaceuticals (NASDAQ:VRTX) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Tuesday, BidAskClub reports.

VRTX has been the topic of several other reports. Royal Bank of Canada set a $213.00 price objective on shares of Vertex Pharmaceuticals and gave the company a “buy” rating in a report on Monday, August 12th. 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. BMO Capital Markets lifted their target price on shares of Vertex Pharmaceuticals to $248.00 and gave the stock a “positive” rating in a report on Wednesday, November 20th. Credit Suisse Group reiterated a “buy” rating and issued a $228.00 price target on shares of Vertex Pharmaceuticals in a research note on Monday, November 4th. Finally, Morgan Stanley upped their price target on shares of Vertex Pharmaceuticals from $215.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have issued a buy rating to the stock. Vertex Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $219.07.

Shares of NASDAQ VRTX opened at $219.37 on Tuesday. The company has a current ratio of 3.44, a quick ratio of 3.32 and a debt-to-equity ratio of 0.12. Vertex Pharmaceuticals has a 12 month low of $151.80 and a 12 month high of $225.66. The stock has a 50 day moving average of $207.46 and a 200-day moving average of $183.70. The company has a market capitalization of $57.41 billion, a P/E ratio of 77.52, a P/E/G ratio of 2.04 and a beta of 1.49.

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

In other Vertex Pharmaceuticals news, EVP Amit Sachdev sold 3,883 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $190.27, for a total transaction of $738,818.41. Following the completion of the transaction, the executive vice president now directly owns 37,299 shares in the company, valued at $7,096,880.73. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CMO Reshma Kewalramani sold 4,692 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $219.37, for a total transaction of $1,029,284.04. Following the transaction, the chief marketing officer now owns 17,790 shares of the company’s stock, valued at $3,902,592.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 290,475 shares of company stock worth $56,792,441. 0.70% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VRTX. Nuveen Asset Management LLC lifted its holdings in shares of Vertex Pharmaceuticals by 14,936.8% in the second quarter. Nuveen Asset Management LLC now owns 2,307,403 shares of the pharmaceutical company’s stock worth $423,131,000 after acquiring an additional 2,292,058 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Vertex Pharmaceuticals by 2.6% during the 2nd quarter. BlackRock Inc. now owns 20,708,669 shares of the pharmaceutical company’s stock valued at $3,797,554,000 after acquiring an additional 532,371 shares in the last quarter. Renaissance Technologies LLC raised its position in Vertex Pharmaceuticals by 9.4% in the second quarter. Renaissance Technologies LLC now owns 5,555,817 shares of the pharmaceutical company’s stock valued at $1,018,826,000 after purchasing an additional 477,100 shares during the last quarter. Senator Investment Group LP bought a new position in Vertex Pharmaceuticals in the second quarter valued at about $82,521,000. Finally, Invesco Ltd. increased its stake in shares of Vertex Pharmaceuticals by 9.0% in the second quarter. Invesco Ltd. now owns 4,063,908 shares of the pharmaceutical company’s stock valued at $745,238,000 after buying an additional 335,938 shares during the period. Hedge funds and other institutional investors own 94.86% of the company’s stock.

Vertex Pharmaceuticals Company Profile

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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