VRTX has been the subject of a number of other reports. Goldman Sachs Group reaffirmed a “buy” rating and set a $220.00 price objective on shares of Vertex Pharmaceuticals in a report on Thursday, May 23rd. ValuEngine downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Evercore ISI began coverage on Vertex Pharmaceuticals in a research report on Thursday, April 11th. They set an “in-line” rating and a $183.00 target price for the company. Credit Suisse Group began coverage on Vertex Pharmaceuticals in a research report on Monday, May 20th. They issued an “outperform” rating and a $209.00 price target for the company. Finally, Citigroup restated a “buy” rating and issued a $205.00 price target on shares of Vertex Pharmaceuticals in a research report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $206.95.
Shares of Vertex Pharmaceuticals stock opened at $181.12 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.74 and a quick ratio of 3.63. The stock has a market cap of $46.23 billion, a price-to-earnings ratio of 64.00, a PEG ratio of 2.34 and a beta of 1.40. The firm’s 50-day moving average is $176.96 and its 200 day moving average is $178.41. Vertex Pharmaceuticals has a 1 year low of $151.80 and a 1 year high of $195.81.
Vertex Pharmaceuticals declared that its board has initiated a stock repurchase plan on Wednesday, July 31st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the pharmaceutical company to buy up to 1.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
In other Vertex Pharmaceuticals news, CEO Jeffrey M. Leiden sold 113,432 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $175.10, for a total value of $19,861,943.20. Following the completion of the sale, the chief executive officer now owns 219,719 shares of the company’s stock, valued at $38,472,796.90. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jeffrey M. Leiden sold 56,030 shares of Vertex Pharmaceuticals stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $175.39, for a total value of $9,827,101.70. Following the sale, the chief executive officer now directly owns 162,317 shares of the company’s stock, valued at approximately $28,468,778.63. The disclosure for this sale can be found here. In the last three months, insiders sold 195,292 shares of company stock valued at $34,357,560. Corporate insiders own 0.70% of the company’s stock.
A number of large investors have recently made changes to their positions in VRTX. Geode Capital Management LLC increased its stake in shares of Vertex Pharmaceuticals by 7.3% in the fourth quarter. Geode Capital Management LLC now owns 3,059,306 shares of the pharmaceutical company’s stock worth $505,995,000 after buying an additional 207,934 shares during the period. Actinver Wealth Management Inc. purchased a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth $272,000. Sowell Financial Services LLC increased its stake in shares of Vertex Pharmaceuticals by 29.6% in the fourth quarter. Sowell Financial Services LLC now owns 1,758 shares of the pharmaceutical company’s stock worth $291,000 after buying an additional 401 shares during the period. Machina Capital S.A.S. purchased a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth $144,000. Finally, First Hawaiian Bank increased its stake in shares of Vertex Pharmaceuticals by 141.1% in the first quarter. First Hawaiian Bank now owns 7,459 shares of the pharmaceutical company’s stock worth $1,373,000 after buying an additional 4,365 shares during the period. 94.70% of the stock is owned by institutional investors.
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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