Vertex Pharmaceuticals (NASDAQ:VRTX)'s stock had its "buy" rating reiterated by equities researchers at Evercore ISI in a report issued on Sunday, AnalystRatings.com reports.
A number of other brokerages have also weighed in on VRTX. Robert W. Baird dropped their price target on Vertex Pharmaceuticals from $252.00 to $240.00 and set an "outperform" rating on the stock in a research note on Friday. They noted that the move was a valuation call. Morgan Stanley dropped their price target on Vertex Pharmaceuticals from $254.00 to $205.00 and set an "equal weight" rating on the stock in a research note on Friday. Daiwa Capital Markets lowered Vertex Pharmaceuticals from an "outperform" rating to a "neutral" rating and set a $210.00 price target on the stock. in a research note on Friday. Stifel Nicolaus decreased their target price on Vertex Pharmaceuticals from $277.00 to $244.00 and set a "buy" rating for the company in a report on Friday. Finally, Royal Bank of Canada decreased their target price on Vertex Pharmaceuticals from $262.00 to $242.00 and set an "outperform" rating for the company in a report on Friday. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. Vertex Pharmaceuticals currently has a consensus rating of "Buy" and an average price target of $276.10.
VRTX opened at $193.02 on Friday. The company has a 50-day moving average of $213.56. Vertex Pharmaceuticals has a 1 year low of $192.88 and a 1 year high of $306.08. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.39 and a quick ratio of 4.24. The stock has a market capitalization of $49.97 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 1.89 and a beta of 0.68.
Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Thursday, April 29th. The pharmaceutical company reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.60. Vertex Pharmaceuticals had a return on equity of 29.61% and a net margin of 43.06%. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.66 billion. As a group, research analysts predict that Vertex Pharmaceuticals will post 9.42 earnings per share for the current fiscal year.
In other news, Director Sangeeta N. Bhatia sold 559 shares of the stock in a transaction dated Wednesday, June 2nd. The stock was sold at an average price of $209.69, for a total value of $117,216.71. Following the transaction, the director now owns 5,465 shares in the company, valued at approximately $1,145,955.85. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Bastiano Sanna sold 960 shares of the stock in a transaction dated Monday, May 3rd. The shares were sold at an average price of $218.43, for a total value of $209,692.80. Following the completion of the transaction, the executive vice president now owns 35,068 shares in the company, valued at approximately $7,659,903.24. The disclosure for this sale can be found here. Insiders sold a total of 7,089 shares of company stock worth $1,527,127 in the last ninety days. 0.30% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Alliancebernstein L.P. increased its holdings in shares of Vertex Pharmaceuticals by 20.3% in the 4th quarter. Alliancebernstein L.P. now owns 7,941,761 shares of the pharmaceutical company's stock valued at $1,876,956,000 after acquiring an additional 1,342,210 shares during the last quarter. Clearbridge Investments LLC increased its holdings in shares of Vertex Pharmaceuticals by 29.1% in the 1st quarter. Clearbridge Investments LLC now owns 5,521,210 shares of the pharmaceutical company's stock valued at $1,186,453,000 after acquiring an additional 1,244,784 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Vertex Pharmaceuticals by 8.2% in the 1st quarter. Janus Henderson Group PLC now owns 4,508,809 shares of the pharmaceutical company's stock valued at $968,908,000 after acquiring an additional 342,275 shares during the last quarter. Geode Capital Management LLC grew its stake in Vertex Pharmaceuticals by 1.4% during the 1st quarter. Geode Capital Management LLC now owns 3,941,186 shares of the pharmaceutical company's stock worth $844,607,000 after buying an additional 54,343 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in Vertex Pharmaceuticals by 3.9% during the 4th quarter. Jennison Associates LLC now owns 3,749,354 shares of the pharmaceutical company's stock worth $886,122,000 after buying an additional 140,270 shares during the last quarter. Institutional investors and hedge funds own 90.06% of the company's stock.
About Vertex Pharmaceuticals
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.
Read More: 52 Week Highs
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Featured Article: What is quantitative easing?7 Stocks to Buy As Americans Receive Stimulus Checks
Millions of Americans will be receiving an additional $1,400 as part of the Biden stimulus plan after receiving $600 as part of the stimulus bill that President Trump back on December 27, 2020. Many already have.
For many Americans, there is a definite plan for how that money will be spent. And the usual suspects like Walmart (NYSE:WMT) and Amazon (NASDAQ:AMZN) will likely continue to be busy. However, for other Americans, the money they receive will truly be like finding money. Both scenarios present different thoughts for investors.
You may agree with the payments. You may disagree with them. It really doesn’t matter, they’re coming and now as an investor, the question is how can you benefit from the new spending that will undoubtedly occur as a result of Americans receiving this stimulus?
We have some ideas and we’re sharing them with you in this special presentation. It’s comforting to remember that for many people receiving the stimulus checks will help ease the pressure from desperate circumstances.
View the "7 Stocks to Buy As Americans Receive Stimulus Checks"