Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target Raised to $211.00 at Stifel Nicolaus

Vertex Pharmaceuticals (NASDAQ:VRTX) had its target price raised by Stifel Nicolaus from $205.00 to $211.00 in a research report released on Thursday morning, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the pharmaceutical company’s stock.

Other analysts have also issued reports about the company. Evercore ISI initiated coverage on Vertex Pharmaceuticals in a report on Thursday, April 11th. They set an in-line rating and a $183.00 target price on the stock. Cowen reissued a buy rating and set a $220.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday, April 30th. Citigroup reissued a buy rating and set a $205.00 target price on shares of Vertex Pharmaceuticals in a report on Thursday, May 23rd. Goldman Sachs Group reissued a buy rating and set a $220.00 target price on shares of Vertex Pharmaceuticals in a report on Thursday, May 23rd. Finally, Needham & Company LLC lowered Vertex Pharmaceuticals from a buy rating to a hold rating in a report on Thursday. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $206.63.

NASDAQ VRTX traded down $0.90 on Thursday, reaching $178.39. The stock had a trading volume of 1,574,290 shares, compared to its average volume of 1,323,598. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.66 and a current ratio of 3.78. The stock’s fifty day moving average is $176.51. Vertex Pharmaceuticals has a 1-year low of $151.80 and a 1-year high of $195.81. The stock has a market capitalization of $43.42 billion, a P/E ratio of 63.04, a P/E/G ratio of 2.45 and a beta of 1.43.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Wednesday, July 31st. The pharmaceutical company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.24. The firm had revenue of $941.29 million for the quarter, compared to analyst estimates of $884.66 million. Vertex Pharmaceuticals had a return on equity of 22.63% and a net margin of 66.01%. The company’s revenue for the quarter was up 25.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.94 EPS. Analysts forecast that Vertex Pharmaceuticals will post 3.07 EPS for the current fiscal year.

Vertex Pharmaceuticals announced that its board has authorized a stock repurchase plan on Wednesday, July 31st that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the pharmaceutical company to purchase up to 1.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

In other Vertex Pharmaceuticals news, CEO Jeffrey M. Leiden sold 33,058 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $175.01, for a total value of $5,785,480.58. Following the completion of the transaction, the chief executive officer now directly owns 136,953 shares in the company, valued at $23,968,144.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey M. Leiden sold 113,432 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $175.10, for a total value of $19,861,943.20. Following the completion of the transaction, the chief executive officer now owns 219,719 shares of the company’s stock, valued at $38,472,796.90. The disclosure for this sale can be found here. Insiders sold 212,203 shares of company stock worth $37,191,590 over the last ninety days. 0.70% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the business. Next Capital Management LLC raised its position in Vertex Pharmaceuticals by 84.4% in the second quarter. Next Capital Management LLC now owns 166 shares of the pharmaceutical company’s stock valued at $30,000 after purchasing an additional 76 shares during the last quarter. Evolution Wealth Advisors LLC bought a new position in shares of Vertex Pharmaceuticals during the second quarter worth about $32,000. FTB Advisors Inc. raised its position in shares of Vertex Pharmaceuticals by 1,618.2% during the first quarter. FTB Advisors Inc. now owns 189 shares of the pharmaceutical company’s stock worth $35,000 after acquiring an additional 178 shares during the last quarter. Pittenger & Anderson Inc. raised its position in shares of Vertex Pharmaceuticals by 64.7% during the first quarter. Pittenger & Anderson Inc. now owns 191 shares of the pharmaceutical company’s stock worth $35,000 after acquiring an additional 75 shares during the last quarter. Finally, Thor Advisors LLC bought a new position in shares of Vertex Pharmaceuticals during the first quarter worth about $37,000. Hedge funds and other institutional investors own 94.91% 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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