Vertex Pharmaceuticals (VRTX) – Analysts’ Weekly Ratings Changes

A number of research firms have changed their ratings and price targets for Vertex Pharmaceuticals (NASDAQ: VRTX):

  • 1/10/2019 – Vertex Pharmaceuticals was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 1/4/2019 – Vertex Pharmaceuticals had its price target lowered by analysts at Citigroup Inc from $206.00 to $205.00. They now have a “buy” rating on the stock.
  • 1/2/2019 – Vertex Pharmaceuticals was downgraded by analysts at Raymond James from an “outperform” rating to a “market perform” rating. They now have a $165.71 price target on the stock.
  • 12/31/2018 – Vertex Pharmaceuticals was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Although we are positive on Vertex’s decision to focus on the CF franchise, we remain concerned about the company’s dependence on just this franchise for growth. While the company does have other pipeline candidates targeting other therapeutic areas, it is too early to get excited about them. Competitive pressure is rising in the CF market with many other companies developing triple combo CF medicines. Vertex has faced some challenges with respect to commercialization of Orkambi in ex-U.S. markets due to re-imbursement hurdles. However, Vertex’s non-CF pipeline, though early stage, looks interesting.”
  • 12/19/2018 – Vertex Pharmaceuticals had its price target lowered by analysts at Morgan Stanley from $211.00 to $210.00. They now have an “overweight” rating on the stock.
  • 12/17/2018 – Vertex Pharmaceuticals is now covered by analysts at Guggenheim. They set a “neutral” rating on the stock.
  • 12/17/2018 – Vertex Pharmaceuticals had its “buy” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $217.00 price target on the stock. They wrote, “. Reiterate overweight and $217 price target. This morning, Vertex announced that CFO Tom Graney has resigned effective immediately. He joined 2017, so his tenure was relatively short.””
  • 11/27/2018 – Vertex Pharmaceuticals was given a new $200.00 price target on by analysts at Oppenheimer Holdings Inc.. They now have a “buy” rating on the stock.
  • 11/27/2018 – Vertex Pharmaceuticals had its “buy” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $217.00 price target on the stock. They wrote, “: $217 PT. Vertex released their first Ph3 top-line data for their cystic fibrosis triple regimen for homozygous and heterozygous patients. No change to our estimates. We already assumed 100% probability of success for the HetMin opportunity. Our 2025 cystic fibrosis peak estimate is $7.5B vs current 2018 estimated sales of $3B.””
  • 11/17/2018 – Vertex Pharmaceuticals had its “buy” rating reaffirmed by analysts at Zacks Investment Research. They now have a $191.00 price target on the stock. According to Zacks, “Vertex beat estimates for both earnings and sales in Q3. We are encouraged by Vertex’s dominance in the CF market. Consistent increase in eligible patient population for its two CF drugs, Kalydeco & Orkambi, is driving sales growth. Vertex’s third CF medicine, Symdeko, a tezacaftor/ivacaftor combo is off to a strong start with an EU launch scheduled in the fourth quarter. Symdeko has been a significant contributor to growth in 2018. Vertex’s CF pipeline is also accelerating rapidly. Studies on Vertex’s triple combination CF regimens are moving fast. The CF triple-pill regimes are crucial for long-term growth as these have the potential to treat up to 90% of CF patients. Meanwhile, Vertex’s non-CF pipeline, though early stage, looks interesting. The stock has outperformed the industry this year so far. However, competitive pressure is rising in the CF market with many companies developing triple combo CF drugs.”

Shares of NASDAQ VRTX opened at $188.16 on Monday. The company has a current ratio of 3.71, a quick ratio of 3.59 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $46.59 billion, a price-to-earnings ratio of 235.20, a price-to-earnings-growth ratio of 1.38 and a beta of 1.54. Vertex Pharmaceuticals Incorporated has a 12 month low of $144.07 and a 12 month high of $194.92.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Wednesday, October 24th. The pharmaceutical company reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.07. The company had revenue of $784.54 million for the quarter, compared to the consensus estimate of $782.95 million. Vertex Pharmaceuticals had a return on equity of 22.92% and a net margin of 22.87%. During the same period in the previous year, the business posted $0.53 EPS. On average, research analysts forecast that Vertex Pharmaceuticals Incorporated will post 2.55 earnings per share for the current fiscal year.

In other news, EVP Michael Parini sold 4,250 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, January 4th. The stock was sold at an average price of $165.90, for a total transaction of $705,075.00. Following the sale, the executive vice president now owns 43,859 shares of the company’s stock, valued at approximately $7,276,208.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Stuart A. Arbuckle sold 2,155 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $175.36, for a total value of $377,900.80. Following the sale, the executive vice president now directly owns 48,907 shares in the company, valued at approximately $8,576,331.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,577 shares of company stock worth $2,354,629. Company insiders own 0.75% of the company’s stock.

Several large investors have recently made changes to their positions in VRTX. Stratos Wealth Partners LTD. acquired a new stake in Vertex Pharmaceuticals in the 3rd quarter valued at $123,000. Flagship Harbor Advisors LLC acquired a new stake in Vertex Pharmaceuticals in the 2nd quarter valued at $125,000. TRUE Private Wealth Advisors acquired a new stake in Vertex Pharmaceuticals in the 3rd quarter valued at $169,000. Harvest Fund Management Co. Ltd acquired a new stake in Vertex Pharmaceuticals in the 3rd quarter valued at $170,000. Finally, Spinnaker Trust acquired a new stake in Vertex Pharmaceuticals in the 3rd quarter valued at $217,000. 93.59% of the stock is currently owned by institutional investors.

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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