Credit Suisse Group Begins Coverage on Vertex Pharmaceuticals (VRTX)

Credit Suisse Group started coverage on shares of Vertex Pharmaceuticals (NASDAQ:VRTX) in a research report report published on Monday, The Fly reports. The brokerage issued an outperform rating on the pharmaceutical company’s stock.

Other analysts have also recently issued reports about the stock. BidaskClub raised shares of Vertex Pharmaceuticals from a hold rating to a buy rating in a research note on Saturday, March 16th. Cowen reaffirmed a buy rating and set a $220.00 price objective on shares of Vertex Pharmaceuticals in a research note on Wednesday, March 6th. JPMorgan Chase & Co. reaffirmed a buy rating and set a $209.00 price objective on shares of Vertex Pharmaceuticals in a research note on Wednesday, May 1st. Needham & Company LLC reaffirmed a buy rating and set a $195.00 price objective on shares of Vertex Pharmaceuticals in a research note on Wednesday, May 1st. Finally, ValuEngine raised shares of Vertex Pharmaceuticals from a hold rating to a buy rating in a research note on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $203.35.

NASDAQ VRTX opened at $165.73 on Monday. The stock has a market capitalization of $43.22 billion, a P/E ratio of 58.56, a price-to-earnings-growth ratio of 2.45 and a beta of 1.56. Vertex Pharmaceuticals has a twelve month low of $144.07 and a twelve month high of $195.81. The company has a current ratio of 3.78, a quick ratio of 3.66 and a debt-to-equity ratio of 0.13.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Tuesday, April 30th. The pharmaceutical company reported $1.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.49. The business had revenue of $857.00 million for the quarter, compared to analysts’ expectations of $853.00 million. Vertex Pharmaceuticals had a net margin of 66.01% and a return on equity of 22.63%. The firm’s revenue for the quarter was up 34.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.76 earnings per share. As a group, research analysts anticipate that Vertex Pharmaceuticals will post 3.06 earnings per share for the current fiscal year.

In other news, CEO Jeffrey M. Leiden sold 10,480 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $175.08, for a total transaction of $1,834,838.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Stuart A. Arbuckle sold 5,624 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $181.75, for a total transaction of $1,022,162.00. Following the sale, the executive vice president now directly owns 36,272 shares in the company, valued at $6,592,436. The disclosure for this sale can be found here. Insiders have sold 51,247 shares of company stock worth $8,998,147 over the last three months. 0.70% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Resources Investment Advisors Inc. acquired a new stake in Vertex Pharmaceuticals in the fourth quarter worth $27,000. FTB Advisors Inc. raised its holdings in Vertex Pharmaceuticals by 1,618.2% in the first quarter. FTB Advisors Inc. now owns 189 shares of the pharmaceutical company’s stock worth $35,000 after purchasing an additional 178 shares during the period. Pittenger & Anderson Inc. raised its holdings in Vertex Pharmaceuticals by 64.7% in the first quarter. Pittenger & Anderson Inc. now owns 191 shares of the pharmaceutical company’s stock worth $35,000 after purchasing an additional 75 shares during the period. We Are One Seven LLC acquired a new stake in Vertex Pharmaceuticals in the fourth quarter worth $32,000. Finally, Berman Capital Advisors LLC acquired a new stake in Vertex Pharmaceuticals in the fourth quarter worth $35,000. 94.92% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene.

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Analyst Recommendations for Vertex Pharmaceuticals (NASDAQ:VRTX)

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