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

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price target dropped by investment analysts at Stifel Nicolaus from $277.00 to $244.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the pharmaceutical company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 12.56% from the stock’s previous close.

A number of other research firms have also recently issued reports on VRTX. The Goldman Sachs Group decreased their price target on shares of Vertex Pharmaceuticals from $358.00 to $307.00 and set a “buy” rating for the company in a report on Friday. Morgan Stanley lowered their target price on Vertex Pharmaceuticals from $254.00 to $205.00 and set an “equal weight” rating on the stock in a report on Friday. Cantor Fitzgerald reduced their price objective on Vertex Pharmaceuticals from $285.00 to $281.00 and set an “overweight” rating for the company in a research report on Friday. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell cut their target price on shares of Vertex Pharmaceuticals from $325.00 to $285.00 and set a “buy” rating for the company in a research note on Friday. Finally, Daiwa Capital Markets cut shares of Vertex Pharmaceuticals from an “outperform” rating to a “neutral” rating and set a $210.00 target price for the company. in a research note on Friday. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $278.32.

Shares of VRTX stock opened at $216.77 on Friday. The firm has a 50 day moving average of $213.96. Vertex Pharmaceuticals has a twelve month low of $202.57 and a twelve month high of $306.08. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.39 and a quick ratio of 4.24. 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.

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

In other Vertex Pharmaceuticals news, EVP Amit Sachdev sold 3,884 shares of the business’s stock in a transaction dated Tuesday, April 27th. The shares were sold at an average price of $216.06, for a total value of $839,177.04. Following the completion of the transaction, the executive vice president now directly owns 44,017 shares of the company’s stock, valued at $9,510,313.02. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Sangeeta N. Bhatia sold 559 shares of the company’s stock in a transaction that occurred on Wednesday, June 2nd. The stock was sold at an average price of $209.69, for a total transaction of $117,216.71. Following the transaction, the director now owns 5,465 shares in the company, valued at $1,145,955.85. 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 over the last ninety days. Insiders own 0.30% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Alliancebernstein L.P. boosted its position in Vertex Pharmaceuticals by 20.3% in the 4th quarter. Alliancebernstein L.P. now owns 7,941,761 shares of the pharmaceutical company’s stock valued at $1,876,956,000 after buying an additional 1,342,210 shares during the last quarter. Clearbridge Investments LLC increased its position in Vertex Pharmaceuticals by 29.1% in the first quarter. Clearbridge Investments LLC now owns 5,521,210 shares of the pharmaceutical company’s stock worth $1,186,453,000 after purchasing an additional 1,244,784 shares during the period. Janus Henderson Group PLC raised its holdings in Vertex Pharmaceuticals by 8.2% during the 1st quarter. Janus Henderson Group PLC now owns 4,508,809 shares of the pharmaceutical company’s stock worth $968,908,000 after purchasing an additional 342,275 shares during the last quarter. Geode Capital Management LLC lifted its position in Vertex Pharmaceuticals by 1.4% during the 1st quarter. Geode Capital Management LLC now owns 3,941,186 shares of the pharmaceutical company’s stock valued at $844,607,000 after purchasing an additional 54,343 shares during the period. Finally, Jennison Associates LLC boosted its stake in shares of Vertex Pharmaceuticals by 3.9% in the 4th quarter. Jennison Associates LLC now owns 3,749,354 shares of the pharmaceutical company’s stock valued at $886,122,000 after purchasing an additional 140,270 shares during the last quarter. Hedge funds and other institutional investors own 90.06% of the company’s stock.

Vertex Pharmaceuticals Company Profile

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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