Vertex Pharmaceuticals (VRTX) Now Covered by Credit Suisse Group

Credit Suisse Group started coverage on shares of Vertex Pharmaceuticals (NASDAQ:VRTX) in a note issued to investors on Monday, Marketbeat Ratings reports. The firm set an “outperform” rating and a $209.00 price target on the pharmaceutical company’s stock. Credit Suisse Group’s price objective would suggest a potential upside of 23.58% from the stock’s previous close.

VRTX has been the topic of a number of other research reports. Zacks Investment Research raised shares of Vertex Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, January 26th. ValuEngine raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. BidaskClub cut shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th. BMO Capital Markets lifted their price target on shares of Vertex Pharmaceuticals to $234.00 and gave the company an “outperform” rating in a research note on Wednesday, February 6th. Finally, JPMorgan Chase & Co. reissued a “buy” rating and issued a $209.00 price target on shares of Vertex Pharmaceuticals in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $203.62.

Shares of NASDAQ VRTX opened at $169.12 on Monday. The company has a market cap of $43.22 billion, a PE ratio of 59.76, a PEG ratio of 2.45 and a beta of 1.56. Vertex Pharmaceuticals has a 12 month low of $144.07 and a 12 month high of $195.81. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.66 and a current ratio of 3.78.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Tuesday, April 30th. The pharmaceutical company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.49. The business had revenue of $857.00 million for the quarter, compared to analysts’ expectations of $853.00 million. Vertex Pharmaceuticals had a net margin of 66.01% and a return on equity of 22.63%. The business’s revenue was up 34.3% on a year-over-year basis. During the same quarter last year, the company earned $0.76 EPS. As a group, analysts forecast that Vertex Pharmaceuticals will post 3.06 EPS for the current fiscal year.

In other Vertex Pharmaceuticals news, SVP Paul M. Silva sold 161 shares of Vertex Pharmaceuticals stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $165.41, for a total transaction of $26,631.01. Following the sale, the senior vice president now owns 17,759 shares of the company’s stock, valued at approximately $2,937,516.19. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Stuart A. Arbuckle sold 5,624 shares of Vertex Pharmaceuticals stock in a transaction on Monday, April 15th. The stock was sold at an average price of $181.75, for a total transaction of $1,022,162.00. Following the sale, the executive vice president now directly owns 36,272 shares in the company, valued at approximately $6,592,436. The disclosure for this sale can be found here. Insiders sold a total of 51,247 shares of company stock worth $8,998,147 in the last three months. 0.70% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC boosted its stake in Vertex Pharmaceuticals by 5.8% during the 4th quarter. Parallel Advisors LLC now owns 1,091 shares of the pharmaceutical company’s stock worth $180,000 after purchasing an additional 60 shares during the last quarter. Kovack Advisors Inc. boosted its stake in Vertex Pharmaceuticals by 4.2% during the 4th quarter. Kovack Advisors Inc. now owns 1,484 shares of the pharmaceutical company’s stock worth $246,000 after purchasing an additional 60 shares during the last quarter. Grandfield & Dodd LLC raised its holdings in shares of Vertex Pharmaceuticals by 1.0% during the 4th quarter. Grandfield & Dodd LLC now owns 6,239 shares of the pharmaceutical company’s stock worth $1,034,000 after acquiring an additional 61 shares during the period. ETRADE Capital Management LLC raised its holdings in shares of Vertex Pharmaceuticals by 0.5% during the 4th quarter. ETRADE Capital Management LLC now owns 11,897 shares of the pharmaceutical company’s stock worth $1,972,000 after acquiring an additional 65 shares during the period. Finally, Impax Asset Management Group plc raised its holdings in shares of Vertex Pharmaceuticals by 1.9% during the 4th quarter. Impax Asset Management Group plc now owns 3,467 shares of the pharmaceutical company’s stock worth $575,000 after acquiring an additional 66 shares during the period. 94.92% of the stock is currently owned by institutional investors.

About Vertex Pharmaceuticals

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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