Vertex Pharmaceuticals (VRTX) Shares Gap Up to $169.48

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) gapped up prior to trading on Monday . The stock had previously closed at $165.47, but opened at $169.48. Vertex Pharmaceuticals shares last traded at $170.34, with a volume of 2525161 shares traded.

VRTX has been the subject of a number of research analyst reports. Piper Jaffray Companies lifted their target price on shares of Vertex Pharmaceuticals to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, July 26th. BidaskClub downgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, September 20th. Zacks Investment Research downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, August 31st. Argus lifted their target price on shares of Vertex Pharmaceuticals to $200.00 and gave the stock an “average” rating in a research report on Tuesday, August 28th. They noted that the move was a valuation call. Finally, Raymond James initiated coverage on shares of Vertex Pharmaceuticals in a research report on Tuesday, October 2nd. They issued a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $202.14.

The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.59 and a current ratio of 3.71. The stock has a market cap of $43.31 billion, a PE ratio of 212.93, a price-to-earnings-growth ratio of 1.71 and a beta of 1.48.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Wednesday, October 24th. The pharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.07. Vertex Pharmaceuticals had a net margin of 22.87% and a return on equity of 22.92%. The firm had revenue of $784.54 million during the quarter, compared to the consensus estimate of $782.95 million. During the same quarter in the previous year, the firm posted $0.53 EPS. As a group, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 2.51 earnings per share for the current year.

In related news, CFO Thomas Graney sold 1,076 shares of Vertex Pharmaceuticals stock in a transaction on Monday, October 1st. The shares were sold at an average price of $193.24, for a total transaction of $207,926.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Stuart A. Arbuckle sold 10,083 shares of Vertex Pharmaceuticals stock in a transaction on Friday, August 3rd. The shares were sold at an average price of $175.29, for a total transaction of $1,767,449.07. Following the transaction, the executive vice president now owns 48,877 shares in the company, valued at approximately $8,567,649.33. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,325 shares of company stock valued at $6,135,340. Insiders own 0.75% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in VRTX. CIBC World Markets Inc. purchased a new position in shares of Vertex Pharmaceuticals during the 1st quarter valued at $302,000. Summit Trail Advisors LLC lifted its stake in shares of Vertex Pharmaceuticals by 13.9% during the 1st quarter. Summit Trail Advisors LLC now owns 9,329 shares of the pharmaceutical company’s stock valued at $956,000 after buying an additional 1,140 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Vertex Pharmaceuticals during the 1st quarter valued at $235,000. Mount Yale Investment Advisors LLC purchased a new position in shares of Vertex Pharmaceuticals during the 1st quarter valued at $101,000. Finally, Dorsey Wright & Associates lifted its stake in shares of Vertex Pharmaceuticals by 9.1% during the 2nd quarter. Dorsey Wright & Associates now owns 16,510 shares of the pharmaceutical company’s stock valued at $2,806,000 after buying an additional 1,382 shares in the last quarter. Institutional investors own 93.40% of the company’s stock.

About Vertex Pharmaceuticals (NASDAQ:VRTX)

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.

Featured Story: How to invest in a bear market

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.

Leave a Reply