Published On: Tue, Sep 13th, 2016

Vertex Pharmaceuticals Inc. (VRTX) Coverage Initiated by Analysts at Citigroup Inc.

Equities researchers at Citigroup Inc. assumed coverage on shares of Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) in a research report issued to clients and investors on Tuesday, The Fly reports. The brokerage set a “market perform” rating on the pharmaceutical company’s stock. The analysts noted that the move was a valuation call.
Several other equities analysts also recently issued reports on VRTX. Vetr downgraded shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $94.05 price target for the company. in a research note on Monday, May 23rd. Jefferies Group reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 31st. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Thursday, June 16th. Piper Jaffray Cos. reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Saturday, June 18th. Finally, Zacks Investment Research raised shares of Vertex Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 29th. Eleven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $120.43.
Shares of Vertex Pharmaceuticals (NASDAQ:VRTX) opened at 97.86 on Tuesday. The company has a 50-day moving average of $98.20 and a 200 day moving average of $89.36. The company’s market capitalization is $24.25 billion. Vertex Pharmaceuticals has a 52-week low of $75.90 and a 52-week high of $136.97.

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Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Wednesday, July 27th. The pharmaceutical company reported $0.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.03. The business earned $431.61 million during the quarter, compared to the consensus estimate of $428.08 million. Vertex Pharmaceuticals had a negative net margin of 17.77% and a negative return on equity of 12.34%. The firm’s revenue was up 159.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.54) EPS. Analysts predict that Vertex Pharmaceuticals will post $1.04 earnings per share for the current year.
In other news, Director Joshua S. Boger sold 1,100 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $100.79, for a total value of $110,869.00. Following the completion of the transaction, the director now owns 268,225 shares in the company, valued at $27,034,397.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joshua S. Boger sold 900 shares of Vertex Pharmaceuticals stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $100.19, for a total transaction of $90,171.00. Following the completion of the transaction, the director now owns 268,225 shares of the company’s stock, valued at approximately $26,873,462.75. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of VRTX. Samlyn Capital LLC boosted its position in shares of Vertex Pharmaceuticals by 19.7% in the first quarter. Samlyn Capital LLC now owns 381,000 shares of the pharmaceutical company’s stock valued at $30,286,000 after buying an additional 62,587 shares in the last quarter. Pacad Investment Ltd. purchased a new position in shares of Vertex Pharmaceuticals during the first quarter valued at approximately $715,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of Vertex Pharmaceuticals during the first quarter valued at approximately $1,153,000. AMP Capital Investors Ltd boosted its position in shares of Vertex Pharmaceuticals by 0.6% in the first quarter. AMP Capital Investors Ltd now owns 99,879 shares of the pharmaceutical company’s stock valued at $7,831,000 after buying an additional 549 shares in the last quarter. Finally, Douglass Winthrop Advisors LLC purchased a new position in shares of Vertex Pharmaceuticals during the second quarter valued at approximately $260,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.
Vertex Pharmaceuticals Company Profile
Vertex Pharmaceuticals Incorporated is engaged in the business of discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company operates in pharmaceuticals segment. Its business 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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