Vertex Pharmaceuticals (NASDAQ:VRTX) PT Lowered to $244.00 at Stifel Nicolaus

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price target cut by analysts at Stifel Nicolaus from $277.00 to $244.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the pharmaceutical company’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 12.56% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Daiwa Capital Markets cut Vertex Pharmaceuticals from an “outperform” rating to a “neutral” rating and set a $210.00 price target for the company. in a report on Friday. Morgan Stanley dropped their price objective on shares of Vertex Pharmaceuticals from $254.00 to $205.00 and set an “equal weight” rating for the company in a report on Friday. Cantor Fitzgerald cut their target price on shares of Vertex Pharmaceuticals from $285.00 to $281.00 and set an “overweight” rating on the stock in a research report on Friday. Zacks Investment Research upgraded shares of Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and set a $226.00 target price on the stock in a research report on Wednesday, May 5th. Finally, Barclays cut their target price on shares of Vertex Pharmaceuticals from $302.00 to $285.00 and set an “overweight” rating on the stock in a research report on Friday. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $278.32.

NASDAQ:VRTX opened at $216.77 on Friday. The firm’s fifty day moving average is $213.96. The company has a market cap of $56.11 billion, a P/E ratio of 20.64, a price-to-earnings-growth ratio of 1.89 and a beta of 0.68. The company has a current ratio of 4.39, a quick ratio of 4.24 and a debt-to-equity ratio of 0.06. Vertex Pharmaceuticals has a fifty-two week low of $202.57 and a fifty-two week high of $306.08.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Thursday, April 29th. The pharmaceutical company reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.60. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.66 billion. Vertex Pharmaceuticals had a return on equity of 29.61% and a net margin of 43.06%. On average, analysts expect that Vertex Pharmaceuticals will post 9.42 EPS for the current fiscal year.

In other news, EVP Bastiano Sanna sold 960 shares of the company’s stock in a transaction on Monday, May 3rd. The shares were sold at an average price of $218.43, for a total value of $209,692.80. Following the completion of the sale, the executive vice president now owns 35,068 shares in the company, valued at approximately $7,659,903.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Amit Sachdev sold 3,884 shares of the company’s stock in a transaction on Tuesday, April 27th. The stock was sold at an average price of $216.06, for a total transaction of $839,177.04. Following the completion of the sale, the executive vice president now owns 44,017 shares of the company’s stock, valued at approximately $9,510,313.02. The disclosure for this sale can be found here. Insiders have sold a total of 7,089 shares of company stock valued at $1,527,127 in the last 90 days. 0.30% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. LA Financiere DE L Echiquier grew its stake in shares of Vertex Pharmaceuticals by 13.7% in the 1st quarter. LA Financiere DE L Echiquier now owns 162,983 shares of the pharmaceutical company’s stock worth $35,024,000 after acquiring an additional 19,630 shares in the last quarter. US Bancorp DE grew its stake in shares of Vertex Pharmaceuticals by 7.0% in the 4th quarter. US Bancorp DE now owns 14,108 shares of the pharmaceutical company’s stock worth $3,334,000 after acquiring an additional 922 shares in the last quarter. Toronto Dominion Bank boosted its holdings in shares of Vertex Pharmaceuticals by 9.2% in the 4th quarter. Toronto Dominion Bank now owns 164,855 shares of the pharmaceutical company’s stock worth $38,960,000 after buying an additional 13,842 shares during the last quarter. Bellevue Group AG boosted its holdings in shares of Vertex Pharmaceuticals by 11.1% in the 1st quarter. Bellevue Group AG now owns 1,376,704 shares of the pharmaceutical company’s stock worth $295,840,000 after buying an additional 137,719 shares during the last quarter. Finally, Baird Financial Group Inc. boosted its holdings in shares of Vertex Pharmaceuticals by 25.6% in the 4th quarter. Baird Financial Group Inc. now owns 52,045 shares of the pharmaceutical company’s stock worth $12,299,000 after buying an additional 10,616 shares during the last quarter. Hedge funds and other institutional investors own 90.06% of the company’s stock.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals, Inc is a global biotechnology company. It engages in the business of discovering, developing, manufacturing and commercializing small molecule drugs for patients with serious diseases. The firm focuses on development and commercializing therapies for the treatment of cystic fibrosis, infectious diseases including viral infections such as influenza and bacterial infections, autoimmune diseases such as rheumatoid arthritis, cancer, inflammatory bowel disease and neurological disorders including pain and multiple sclerosis.

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Analyst Recommendations for Vertex Pharmaceuticals (NASDAQ:VRTX)

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