Piper Jaffray Companies Raises Vertex Pharmaceuticals (VRTX) Price Target to $230.00

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price objective upped by Piper Jaffray Companies to $230.00 in a research report released on Thursday, July 26th, The Fly reports. Piper Jaffray Companies currently has an overweight rating on the pharmaceutical company’s stock.

Several other research analysts have also commented on VRTX. BMO Capital Markets raised their price objective on shares of Vertex Pharmaceuticals to $204.00 and gave the company an outperform rating in a research note on Thursday, July 26th. BidaskClub raised shares of Vertex Pharmaceuticals from a strong sell rating to a sell rating in a research note on Friday, June 15th. ValuEngine raised shares of Vertex Pharmaceuticals from a hold rating to a buy rating in a research note on Saturday, June 2nd. Zacks Investment Research upgraded shares of Vertex Pharmaceuticals from a hold rating to a buy rating and set a $178.00 price target for the company in a research note on Saturday, June 30th. Finally, JPMorgan Chase & Co. reiterated a buy rating on shares of Vertex Pharmaceuticals in a research note on Sunday, July 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-four have assigned a buy rating to the company. Vertex Pharmaceuticals currently has a consensus rating of Buy and an average target price of $193.75.

NASDAQ VRTX opened at $174.82 on Thursday. The company has a quick ratio of 3.55, a current ratio of 3.67 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals has a one year low of $136.50 and a one year high of $183.39. The company has a market capitalization of $44.80 billion, a PE ratio of 218.53, a price-to-earnings-growth ratio of 1.79 and a beta of 1.48.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Wednesday, July 25th. The pharmaceutical company reported $0.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.54. Vertex Pharmaceuticals had a net margin of 15.84% and a return on equity of 19.86%. The business had revenue of $752.20 million during the quarter, compared to analyst estimates of $680.86 million. During the same quarter last year, the firm posted $0.39 earnings per share. The business’s revenue for the quarter was up 38.2% compared to the same quarter last year. equities research analysts anticipate that Vertex Pharmaceuticals will post 2.48 earnings per share for the current year.

In other Vertex Pharmaceuticals news, SVP Paul M. Silva sold 201 shares of the firm’s stock in a transaction that occurred on Tuesday, May 15th. The shares were sold at an average price of $155.78, for a total transaction of $31,311.78. Following the sale, the senior vice president now owns 16,087 shares of the company’s stock, valued at $2,506,032.86. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey M. Leiden sold 140,211 shares of the firm’s stock in a transaction that occurred on Friday, June 22nd. The stock was sold at an average price of $160.00, for a total transaction of $22,433,760.00. Following the sale, the chief executive officer now directly owns 297,260 shares in the company, valued at approximately $47,561,600. The disclosure for this sale can be found here. In the last three months, insiders have sold 205,096 shares of company stock worth $33,449,122. 1.80% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. Fiera Capital Corp increased its holdings in shares of Vertex Pharmaceuticals by 12.7% in the 2nd quarter. Fiera Capital Corp now owns 2,591 shares of the pharmaceutical company’s stock valued at $440,000 after acquiring an additional 292 shares during the period. Brown Advisory Inc. increased its holdings in shares of Vertex Pharmaceuticals by 5.0% in the 2nd quarter. Brown Advisory Inc. now owns 6,327 shares of the pharmaceutical company’s stock valued at $1,075,000 after acquiring an additional 304 shares during the period. Sumitomo Mitsui Asset Management Company LTD increased its holdings in shares of Vertex Pharmaceuticals by 1.8% in the 2nd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 17,914 shares of the pharmaceutical company’s stock valued at $3,044,000 after acquiring an additional 325 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Vertex Pharmaceuticals by 22.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,816 shares of the pharmaceutical company’s stock valued at $309,000 after acquiring an additional 338 shares during the period. Finally, Mutual of America Capital Management LLC increased its holdings in shares of Vertex Pharmaceuticals by 1.1% in the 2nd quarter. Mutual of America Capital Management LLC now owns 32,832 shares of the pharmaceutical company’s stock valued at $5,580,000 after acquiring an additional 348 shares during the period. 93.35% of the stock is currently owned by institutional investors.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Incorporated, a biotechnology company, develops medicines for serious diseases. The company focuses on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs. It markets ORKAMBI (lumacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are homozygous for the F508del mutation in their cystic fibrosis transmembrane conductance regulator (CFTR) gene; KALYDECO (ivacaftor) for the treatment of patients with CF who have specific mutations in their CFTR gene, including the G551D mutation; and SYMDEKO (tezacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are F508del homozygous or who have 1 mutation that is responsive to tezacaftor/ivacaftor.

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