Vertex Pharmaceuticals (VRTX) Earns In-Line Rating from Analysts at Evercore ISI

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Evercore ISI started coverage on shares of Vertex Pharmaceuticals (NASDAQ:VRTX) in a research note published on Thursday, Benzinga’s Daily Ratings Newsletter reports. The firm issued an in-line rating and a $183.00 target price on the pharmaceutical company’s stock.

Several other research analysts have also commented on the stock. BidaskClub upgraded shares of Vertex Pharmaceuticals from a hold rating to a buy rating in a research note on Saturday, March 16th. Maxim Group reiterated a hold rating on shares of Vertex Pharmaceuticals in a research note on Wednesday, March 6th. Cowen reiterated a buy rating and set a $220.00 price objective on shares of Vertex Pharmaceuticals in a research note on Wednesday, March 6th. Citigroup reduced their price objective on shares of Vertex Pharmaceuticals from $206.00 to $205.00 and set a buy rating for the company in a research note on Friday, January 4th. Finally, Raymond James lowered shares of Vertex Pharmaceuticals from an outperform rating to a market perform rating and set a $165.71 price objective for the company. in a research note on Wednesday, January 2nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $203.31.

NASDAQ VRTX opened at $182.78 on Thursday. The company has a market cap of $47.33 billion, a P/E ratio of 64.59, a PEG ratio of 2.71 and a beta of 1.64. Vertex Pharmaceuticals has a 52 week low of $144.07 and a 52 week high of $195.81.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Tuesday, February 5th. The pharmaceutical company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.06 by $0.24. The firm had revenue of $870.11 million during the quarter, compared to analyst estimates of $818.29 million. Vertex Pharmaceuticals had a net margin of 68.81% and a return on equity of 24.15%. Vertex Pharmaceuticals’s revenue was up 33.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.61 EPS. On average, analysts forecast that Vertex Pharmaceuticals will post 3.04 earnings per share for the current year.

In other Vertex Pharmaceuticals news, EVP David Altshuler sold 5,624 shares of the company’s stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $187.00, for a total transaction of $1,051,688.00. Following the transaction, the executive vice president now owns 32,604 shares in the company, valued at approximately $6,096,948. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Paul M. Silva sold 3,007 shares of the stock in a transaction on Thursday, January 17th. The stock was sold at an average price of $190.62, for a total transaction of $573,194.34. Following the completion of the sale, the senior vice president now owns 17,376 shares in the company, valued at approximately $3,312,213.12. The disclosure for this sale can be found here. Insiders have sold a total of 208,624 shares of company stock worth $38,187,166 in the last 90 days. 0.75% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. RMB Capital Management LLC increased its stake in shares of Vertex Pharmaceuticals by 3.0% in the fourth quarter. RMB Capital Management LLC now owns 21,113 shares of the pharmaceutical company’s stock worth $3,499,000 after acquiring an additional 617 shares during the period. Eastern Bank boosted its holdings in Vertex Pharmaceuticals by 43.2% during the fourth quarter. Eastern Bank now owns 3,315 shares of the pharmaceutical company’s stock worth $549,000 after buying an additional 1,000 shares in the last quarter. State Treasurer State of Michigan boosted its holdings in Vertex Pharmaceuticals by 74.8% during the fourth quarter. State Treasurer State of Michigan now owns 133,168 shares of the pharmaceutical company’s stock worth $22,067,000 after buying an additional 57,000 shares in the last quarter. Biondo Investment Advisors LLC boosted its holdings in Vertex Pharmaceuticals by 8.8% during the fourth quarter. Biondo Investment Advisors LLC now owns 46,020 shares of the pharmaceutical company’s stock worth $7,626,000 after buying an additional 3,715 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in Vertex Pharmaceuticals by 25.6% during the fourth quarter. Canada Pension Plan Investment Board now owns 432,373 shares of the pharmaceutical company’s stock worth $71,643,000 after buying an additional 88,000 shares in the last quarter. Hedge funds and other institutional investors own 95.37% 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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