Vertex Pharmaceuticals (NASDAQ:VRTX) has earned a consensus rating of “Buy” from the thirty-one research firms that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-five have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $184.74.
Several equities analysts have issued reports on VRTX shares. HC Wainwright restated a “hold” rating and set a $103.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 13th. BidaskClub upgraded shares of Vertex Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 24th. Deutsche Bank started coverage on shares of Vertex Pharmaceuticals in a research note on Tuesday, December 12th. They set a “buy” rating and a $175.00 target price on the stock. Zacks Investment Research upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $176.00 target price on the stock in a research note on Monday, January 8th. Finally, Oppenheimer upped their target price on shares of Vertex Pharmaceuticals from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, January 4th.
Vertex Pharmaceuticals stock traded up $3.40 during mid-day trading on Friday, reaching $162.98. The stock had a trading volume of 1,527,247 shares, compared to its average volume of 1,502,509. The stock has a market cap of $41,379.32, a price-to-earnings ratio of 203.73, a PEG ratio of 2.32 and a beta of 1.56. Vertex Pharmaceuticals has a one year low of $106.03 and a one year high of $178.25. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.28 and a quick ratio of 3.14.
Vertex Pharmaceuticals announced that its board has initiated a stock buyback program on Wednesday, January 31st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the pharmaceutical company to purchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.
In related news, EVP Amit Sachdev sold 13,750 shares of the stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $175.00, for a total value of $2,406,250.00. Following the completion of the sale, the executive vice president now directly owns 60,412 shares of the company’s stock, valued at approximately $10,572,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Jeffrey Chodakewitz sold 3,438 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $151.80, for a total transaction of $521,888.40. Following the completion of the sale, the chief marketing officer now directly owns 57,862 shares of the company’s stock, valued at $8,783,451.60. The disclosure for this sale can be found here. Insiders sold a total of 355,677 shares of company stock valued at $56,885,296 over the last three months. 1.80% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in VRTX. Renaissance Technologies LLC increased its holdings in Vertex Pharmaceuticals by 108.2% in the 4th quarter. Renaissance Technologies LLC now owns 2,847,917 shares of the pharmaceutical company’s stock worth $426,789,000 after acquiring an additional 1,479,897 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in Vertex Pharmaceuticals by 8,061.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 909,230 shares of the pharmaceutical company’s stock worth $138,239,000 after acquiring an additional 898,089 shares in the last quarter. HealthCor Management L.P. increased its holdings in Vertex Pharmaceuticals by 1,974.4% in the 4th quarter. HealthCor Management L.P. now owns 725,000 shares of the pharmaceutical company’s stock worth $108,649,000 after acquiring an additional 690,050 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Vertex Pharmaceuticals by 90.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,203,221 shares of the pharmaceutical company’s stock worth $180,315,000 after acquiring an additional 570,287 shares in the last quarter. Finally, Two Sigma Investments LP increased its holdings in Vertex Pharmaceuticals by 102.7% in the 4th quarter. Two Sigma Investments LP now owns 912,724 shares of the pharmaceutical company’s stock worth $136,781,000 after acquiring an additional 462,416 shares in the last quarter. 94.48% of the stock is owned by institutional investors.
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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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