Vertex Pharmaceuticals Incorporated (VRTX) Given "Outperform" Rating at Robert W. Baird

A number of hedge funds have recently made changes to their positions in the company.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Wednesday, January 25th. (NASDAQ:CNCE). According to First Call, the current consensus target price on shares is sitting at $22.00. Baker BROS. Advisors LP acquired a new stake in Concert Pharmaceuticals during the third quarter worth approximately $3,205,000. TIAA CREF Investment Management LLC boosted its stake in shares of Vertex Pharmaceuticals by 33.8% in the second quarter. A rating of 1 or 2 would represent a Buy, and a 3 rating would signify a Hold on the stock. It trades at an average volume of 2.65M shares versus 1.69M shares recorded at the end of last trading session. American International Group Inc. now owns 113,555 shares of the pharmaceutical company's stock worth $9,903,000 after buying an additional 1,939 shares during the period.

Vertex Pharmaceuticals Inc (NASDAQ:VRTX) announced this morning that it has agreed to purchase a cystic fibrosis (CF) drug from Concert Pharmaceuticals Inc (NASDAQ:CNCE) for $160 million. 4,522,498 shares of the company traded hands. (Nasdaq:TGTX) soared more than 50% in pre-market trad Monday after the company said that data from a late-stage study showed that its glycoengineered monoclonal antibody TG-1101 (ublituximab) combined with ibrutinib performed significantly better in Overall Response Rate versus ibrutinib alone - the study's primary endpoint - in patients with high risk Chronic Lymphocytic Leukemia, a type of cancer that starts from white blood cells (lymphocytes) in the bone marrow. The stock's 50-day moving average price is $78.64 and its 200-day moving average price is $87.48. Concert Pharmaceuticals, Inc. (NASDAQ:CNCE) has a Return on Assets of -29.50%.

Investors expected a price target of -0.75 for this quarter. Company gross margin stands at 96.10% whereas its return on investment (ROI) is 5.80%. The firm had revenue of $413.78 million for the quarter, compared to analyst estimates of $423.53 million.

Analysts mean Recommendation on a stock is noted at 2.20.

Several institutional investors have recently bought and sold shares of VRTX. Robert W. Baird restated a "buy" rating on shares of Vertex Pharmaceuticals in a research report on Monday.

A total of 6 equity analysts have released a research note on CNCE. Jefferies Group restated a "buy" rating and set a $102.00 target price on shares of Vertex Pharmaceuticals in a research report on Wednesday, November 30th. Finally, JPMorgan Chase & Co. reissued a buy rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, January 3rd. Also, Director Joshua S. Boger sold 8,000 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, January 11th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The shares were sold at an average price of $74.16, for a total transaction of $482,040.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Ingalls & Snyder LLC now owns 894,687 shares of the company's stock worth $9,045,000 after buying an additional 270,187 shares during the period.

  • Carolyn Briggs