Vertex Pharmaceuticals (NASDAQ:VRTX) PT Raised to $562.00

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price objective lifted by UBS Group from $477.00 to $562.00 in a report published on Thursday morning, Marketbeat reports. UBS Group currently has a buy rating on the pharmaceutical company’s stock.

A number of other analysts have also commented on VRTX. Guggenheim increased their price objective on Vertex Pharmaceuticals from $450.00 to $558.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. StockNews.com downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Barclays downgraded shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $472.00 to $509.00 in a research note on Monday, August 5th. Truist Financial reaffirmed a “buy” rating and issued a $550.00 target price (up from $508.00) on shares of Vertex Pharmaceuticals in a research note on Monday, August 5th. Finally, Wells Fargo & Company raised their price objective on Vertex Pharmaceuticals from $540.00 to $555.00 and gave the stock an “overweight” rating in a report on Monday, June 24th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $492.92.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $483.00 on Thursday. The company has a current ratio of 2.52, a quick ratio of 2.26 and a debt-to-equity ratio of 0.02. The company’s 50-day moving average price is $475.21 and its 200 day moving average price is $459.87. Vertex Pharmaceuticals has a 52 week low of $341.90 and a 52 week high of $510.64. The stock has a market cap of $124.64 billion, a price-to-earnings ratio of 31.34 and a beta of 0.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The business had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same period last year, the business earned $3.53 earnings per share. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, research analysts forecast that Vertex Pharmaceuticals will post -2.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, Director Bruce I. Sachs sold 5,295 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $508.00, for a total value of $2,689,860.00. Following the completion of the sale, the director now owns 40,000 shares of the company’s stock, valued at $20,320,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CMO Carmen Bozic sold 2,280 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $476.75, for a total transaction of $1,086,990.00. Following the completion of the sale, the chief marketing officer now directly owns 23,259 shares in the company, valued at $11,088,728.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bruce I. Sachs sold 5,295 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $508.00, for a total value of $2,689,860.00. Following the completion of the transaction, the director now owns 40,000 shares in the company, valued at approximately $20,320,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,487 shares of company stock valued at $14,657,149 over the last three months. 0.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Vertex Pharmaceuticals

Institutional investors have recently made changes to their positions in the business. Fisher Asset Management LLC grew its holdings in Vertex Pharmaceuticals by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 26,680 shares of the pharmaceutical company’s stock worth $10,856,000 after acquiring an additional 334 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its stake in Vertex Pharmaceuticals by 25.4% during the first quarter. Massmutual Trust Co. FSB ADV now owns 863 shares of the pharmaceutical company’s stock valued at $361,000 after buying an additional 175 shares in the last quarter. Wedmont Private Capital lifted its holdings in Vertex Pharmaceuticals by 7.5% during the 1st quarter. Wedmont Private Capital now owns 3,058 shares of the pharmaceutical company’s stock worth $1,237,000 after buying an additional 213 shares during the last quarter. KMG Fiduciary Partners LLC increased its holdings in shares of Vertex Pharmaceuticals by 10.1% in the 1st quarter. KMG Fiduciary Partners LLC now owns 543 shares of the pharmaceutical company’s stock valued at $227,000 after acquiring an additional 50 shares during the last quarter. Finally, Park Avenue Securities LLC raised its position in shares of Vertex Pharmaceuticals by 8.3% during the 1st quarter. Park Avenue Securities LLC now owns 14,239 shares of the pharmaceutical company’s stock valued at $5,952,000 after acquiring an additional 1,097 shares in the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

About Vertex Pharmaceuticals

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.