Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) had its price target lifted by Argus from $71.46 to $175.00 in a research report issued to clients and investors on Tuesday, August 1st. The firm currently has a “buy” rating on the pharmaceutical company’s stock. Argus’ target price would suggest a potential upside of 18.14% from the company’s previous close.
VRTX has been the subject of several other reports. Zacks Investment Research cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, April 10th. Jefferies Group LLC began coverage on shares of Vertex Pharmaceuticals in a report on Monday, July 10th. They set a “buy” rating and a $155.00 price target for the company. Credit Suisse Group increased their price objective on Vertex Pharmaceuticals from $125.00 to $195.00 and gave the company an “outperform” rating in a report on Wednesday, July 19th. Barclays PLC restated an “equal weight” rating and issued a $100.00 price objective (up from $90.00) on shares of Vertex Pharmaceuticals in a report on Sunday, April 23rd. Finally, Vetr downgraded Vertex Pharmaceuticals from a “sell” rating to a “strong sell” rating and set a $102.62 price target for the company. in a report on Tuesday, May 16th. Five analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. Vertex Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $162.88.
Shares of Vertex Pharmaceuticals (NASDAQ:VRTX) opened at 148.13 on Tuesday. Vertex Pharmaceuticals has a one year low of $71.46 and a one year high of $167.85. The stock has a market capitalization of $37.35 billion, a P/E ratio of 142.30 and a beta of 1.77. The stock’s 50 day moving average price is $146.73 and its 200 day moving average price is $117.81.
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In other Vertex Pharmaceuticals news, EVP Stuart A. Arbuckle sold 70,969 shares of the company’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $128.06, for a total value of $9,088,290.14. Following the sale, the executive vice president now owns 145,061 shares in the company, valued at $18,576,511.66. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Amit Sachdev sold 28,625 shares of the company’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $160.93, for a total transaction of $4,606,621.25. Following the completion of the sale, the executive vice president now owns 119,335 shares in the company, valued at approximately $19,204,581.55. The disclosure for this sale can be found here. Insiders have sold 751,042 shares of company stock worth $113,078,257 in the last quarter. 1.80% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in shares of Vertex Pharmaceuticals by 3.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 267,437 shares of the pharmaceutical company’s stock valued at $19,703,000 after buying an additional 8,524 shares in the last quarter. Teachers Advisors LLC increased its position in shares of Vertex Pharmaceuticals by 3.8% in the fourth quarter. Teachers Advisors LLC now owns 343,375 shares of the pharmaceutical company’s stock valued at $25,296,000 after buying an additional 12,707 shares in the last quarter. Kentucky Retirement Systems purchased a new position in shares of Vertex Pharmaceuticals during the fourth quarter valued at about $1,326,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Vertex Pharmaceuticals during the fourth quarter valued at about $592,000. Finally, Chevy Chase Trust Holdings Inc. increased its position in shares of Vertex Pharmaceuticals by 3.8% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 243,473 shares of the pharmaceutical company’s stock valued at $26,624,000 after buying an additional 8,933 shares in the last quarter. Hedge funds and other institutional investors own 94.89% of the company’s stock.
About Vertex Pharmaceuticals
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.
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