Vertex Pharmaceuticals (NASDAQ:VRTX) Upgraded at StockNews.com

Vertex Pharmaceuticals (NASDAQ:VRTX) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Tuesday.

Several other analysts also recently weighed in on the stock. Royal Bank of Canada decreased their price target on shares of Vertex Pharmaceuticals from $424.00 to $421.00 and set a “sector perform” rating for the company in a research note on Tuesday, June 11th. Redburn Atlantic started coverage on Vertex Pharmaceuticals in a research report on Thursday, June 27th. They set a “buy” rating and a $545.00 target price for the company. UBS Group dropped their price target on Vertex Pharmaceuticals from $498.00 to $466.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. Evercore ISI upgraded Vertex Pharmaceuticals from an “in-line” rating to an “outperform” rating and set a $438.00 price objective for the company in a report on Thursday, April 11th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 7th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $448.61.

Vertex Pharmaceuticals Price Performance

VRTX opened at $471.25 on Tuesday. The company has a quick ratio of 3.29, a current ratio of 3.50 and a debt-to-equity ratio of 0.02. The business has a fifty day moving average of $444.89 and a 200 day moving average of $426.80. Vertex Pharmaceuticals has a 52-week low of $335.82 and a 52-week high of $486.42. The stock has a market cap of $121.61 billion, a P/E ratio of 30.58, a PEG ratio of 2.41 and a beta of 0.39.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.66 by $1.10. The firm had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.58 billion. Vertex Pharmaceuticals had a net margin of 39.46% and a return on equity of 23.08%. During the same period in the previous year, the firm earned $2.67 earnings per share. The business’s revenue was up 13.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Vertex Pharmaceuticals will post 15.22 EPS for the current year.

Insider Activity at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs sold 7,073 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $448.00, for a total transaction of $3,168,704.00. Following the completion of the transaction, the director now owns 40,000 shares of the company’s stock, valued at $17,920,000. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Bruce I. Sachs sold 7,073 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $448.00, for a total transaction of $3,168,704.00. Following the completion of the transaction, the director now directly owns 40,000 shares in the company, valued at $17,920,000. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Carmen Bozic sold 2,280 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $478.00, for a total value of $1,089,840.00. Following the completion of the sale, the chief marketing officer now owns 32,379 shares in the company, valued at approximately $15,477,162. The disclosure for this sale can be found here. Insiders have sold a total of 28,366 shares of company stock worth $13,058,787 over the last quarter. Insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Vertex Pharmaceuticals

A number of institutional investors have recently modified their holdings of VRTX. Telos Capital Management Inc. raised its stake in shares of Vertex Pharmaceuticals by 1.6% during the 4th quarter. Telos Capital Management Inc. now owns 15,073 shares of the pharmaceutical company’s stock worth $6,133,000 after buying an additional 237 shares during the period. Morgan Stanley lifted its holdings in Vertex Pharmaceuticals by 3.2% during the third quarter. Morgan Stanley now owns 2,870,101 shares of the pharmaceutical company’s stock valued at $998,050,000 after purchasing an additional 89,217 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of Vertex Pharmaceuticals by 15.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 29,897 shares of the pharmaceutical company’s stock valued at $12,497,000 after purchasing an additional 3,999 shares during the period. ARK Investment Management LLC increased its stake in shares of Vertex Pharmaceuticals by 7.7% during the fourth quarter. ARK Investment Management LLC now owns 124,197 shares of the pharmaceutical company’s stock worth $50,535,000 after purchasing an additional 8,866 shares in the last quarter. Finally, Brevan Howard Capital Management LP increased its stake in Vertex Pharmaceuticals by 216.3% during the 4th quarter. Brevan Howard Capital Management LP now owns 4,830 shares of the pharmaceutical company’s stock worth $1,965,000 after buying an additional 3,303 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.