Vertex Pharmaceuticals (NASDAQ:VRTX) Sets New 1-Year Low at $182.20

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) hit a new 52-week low during trading on Friday . The company traded as low as $182.20 and last traded at $182.46, with a volume of 34061 shares changing hands. The stock had previously closed at $185.09.

A number of research analysts have commented on the company. TheStreet lowered Vertex Pharmaceuticals from a “b” rating to a “c+” rating in a report on Thursday, July 29th. Royal Bank of Canada upped their price objective on Vertex Pharmaceuticals from $246.00 to $248.00 and gave the company an “outperform” rating in a report on Friday, July 30th. Barclays decreased their price objective on Vertex Pharmaceuticals from $302.00 to $285.00 and set an “overweight” rating on the stock in a report on Friday, June 11th. Piper Sandler upped their price objective on Vertex Pharmaceuticals from $261.00 to $323.00 and gave the company an “overweight” rating in a report on Friday, July 30th. Finally, Robert W. Baird reduced their target price on Vertex Pharmaceuticals from $252.00 to $240.00 and set an “outperform” rating on the stock in a report on Friday, June 11th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $264.70.

The company has a debt-to-equity ratio of 0.06, a current ratio of 4.61 and a quick ratio of 4.43. The company has a market capitalization of $47.63 billion, a P/E ratio of 24.22, a P/E/G ratio of 1.77 and a beta of 0.63. The stock has a 50-day moving average price of $195.41 and a 200-day moving average price of $204.25.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Thursday, July 29th. The pharmaceutical company reported $3.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.25 by $0.86. Vertex Pharmaceuticals had a return on equity of 29.73% and a net margin of 29.80%. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.71 billion. Sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 10.83 EPS for the current fiscal year.

In other Vertex Pharmaceuticals news, CEO Reshma Kewalramani bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 19th. The stock was acquired at an average price of $195.65 per share, with a total value of $1,956,500.00. Following the completion of the purchase, the chief executive officer now directly owns 69,511 shares of the company’s stock, valued at approximately $13,599,827.15. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VRTX. Cordasco Financial Network acquired a new stake in Vertex Pharmaceuticals in the second quarter valued at approximately $25,000. Stonebridge Capital Advisors LLC acquired a new stake in Vertex Pharmaceuticals in the second quarter valued at approximately $26,000. Northern Oak Wealth Management Inc. acquired a new stake in Vertex Pharmaceuticals in the second quarter valued at approximately $30,000. Clearstead Advisors LLC acquired a new stake in Vertex Pharmaceuticals in the first quarter valued at approximately $34,000. Finally, Axiom Investment Management LLC acquired a new stake in Vertex Pharmaceuticals in the first quarter valued at approximately $36,000. 88.63% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Company Profile (NASDAQ:VRTX)

Vertex Pharmaceuticals, Inc is a global biotechnology company. It engages in the business of discovering, developing, manufacturing and commercializing small molecule drugs for patients with serious diseases. The firm focuses on development and commercializing therapies for the treatment of cystic fibrosis, infectious diseases including viral infections such as influenza and bacterial infections, autoimmune diseases such as rheumatoid arthritis, cancer, inflammatory bowel disease and neurological disorders including pain and multiple sclerosis.

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