Vertex Pharmaceuticals (VRTX) Upgraded to “Buy” at Bank of America

Bank of America upgraded shares of Vertex Pharmaceuticals (NASDAQ:VRTX) from a neutral rating to a buy rating in a report published on Friday, January 5th, Marketbeat.com reports. The firm currently has $180.00 price target on the pharmaceutical company’s stock.

Several other equities analysts have also recently weighed in on VRTX. Needham & Company LLC reissued a buy rating and set a $195.00 price objective on shares of Vertex Pharmaceuticals in a research report on Friday, October 27th. BMO Capital Markets reissued a buy rating on shares of Vertex Pharmaceuticals in a research report on Wednesday, September 27th. DA Davidson assumed coverage on Vertex Pharmaceuticals in a research report on Friday, September 29th. They set a buy rating and a $200.00 price objective for the company. BTIG Research assumed coverage on Vertex Pharmaceuticals in a research report on Friday, September 29th. They set a buy rating and a $200.00 price objective for the company. Finally, Oppenheimer boosted their price objective on Vertex Pharmaceuticals from $175.00 to $190.00 and gave the stock an outperform rating in a research report on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $175.89.

Vertex Pharmaceuticals (NASDAQ VRTX) traded down $0.47 on Friday, hitting $157.93. The stock had a trading volume of 1,561,110 shares, compared to its average volume of 1,550,900. The company has a market cap of $39,940.00, a P/E ratio of 202.47, a PEG ratio of 1.86 and a beta of 1.58. Vertex Pharmaceuticals has a 52 week low of $79.78 and a 52 week high of $167.85. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.14 and a current ratio of 3.28.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Wednesday, October 25th. The pharmaceutical company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.49. Vertex Pharmaceuticals had a return on equity of 9.23% and a net margin of 8.53%. The company had revenue of $578.20 million during the quarter, compared to the consensus estimate of $522.07 million. During the same quarter in the prior year, the company posted $0.16 EPS. The firm’s revenue was up 39.7% on a year-over-year basis. research analysts predict that Vertex Pharmaceuticals will post 0.76 EPS for the current year.

In other news, EVP Stuart A. Arbuckle sold 4,250 shares of the stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $159.00, for a total value of $675,750.00. Following the completion of the transaction, the executive vice president now directly owns 46,202 shares of the company’s stock, valued at approximately $7,346,118. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jeffrey M. Leiden sold 125,000 shares of the stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $141.35, for a total value of $17,668,750.00. Following the completion of the transaction, the chief executive officer now directly owns 237,407 shares of the company’s stock, valued at $33,557,479.45. The disclosure for this sale can be found here. In the last ninety days, insiders sold 354,621 shares of company stock valued at $51,233,155. Insiders own 1.80% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of VRTX. BlackRock Inc. grew its position in Vertex Pharmaceuticals by 0.8% during the 2nd quarter. BlackRock Inc. now owns 19,405,981 shares of the pharmaceutical company’s stock worth $2,500,849,000 after acquiring an additional 159,601 shares during the last quarter. Vanguard Group Inc. grew its position in Vertex Pharmaceuticals by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 16,979,872 shares of the pharmaceutical company’s stock worth $2,188,196,000 after acquiring an additional 504,982 shares during the last quarter. Jennison Associates LLC grew its position in Vertex Pharmaceuticals by 19.0% during the 3rd quarter. Jennison Associates LLC now owns 6,017,766 shares of the pharmaceutical company’s stock worth $914,941,000 after acquiring an additional 962,644 shares during the last quarter. TIAA CREF Investment Management LLC grew its position in Vertex Pharmaceuticals by 28.1% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 2,077,303 shares of the pharmaceutical company’s stock worth $267,702,000 after acquiring an additional 456,290 shares during the last quarter. Finally, Orbimed Advisors LLC grew its position in Vertex Pharmaceuticals by 2.4% during the 3rd quarter. Orbimed Advisors LLC now owns 2,074,302 shares of the pharmaceutical company’s stock worth $315,377,000 after acquiring an additional 47,800 shares during the last quarter. 93.19% of the stock is owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY WARNING: This piece of content was first reported by BBNS and is owned by of BBNS. If you are reading this piece of content on another domain, it was illegally copied and reposted in violation of United States & international copyright legislation. The correct version of this piece of content can be read at https://baseballnewssource.com/markets/vertex-pharmaceuticals-vrtx-raised-to-buy-at-bank-of-america-2/1818337.html.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated is engaged in discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company is focused on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs in other indications.

Analyst Recommendations for Vertex Pharmaceuticals (NASDAQ:VRTX)

Receive News & Ratings for Vertex Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vertex Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Report: 20-Second Clock and Limit on Mound Visits Rejected by MLBPA
Report: 20-Second Clock and Limit on Mound Visits Rejected by MLBPA
Christian Yelich’s Agent Says Relationship with Marlins is Broken
Christian Yelich’s Agent Says Relationship with Marlins is Broken
Houston Astros Add Starter to Rotation
Houston Astros Add Starter to Rotation
Sources: Mets Bringing Back Jay Bruce with Three-Year Deal
Sources: Mets Bringing Back Jay Bruce with Three-Year Deal
Justin Morneau Former Star With Twins and AL MVP Retires
Justin Morneau Former Star With Twins and AL MVP Retires
MLB Rumor: Pirates Discussing Andrew McCutchen with Mets
MLB Rumor: Pirates Discussing Andrew McCutchen with Mets


Leave a Reply

 
© 2006-2018 BBNS.