Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target Cut to $540.00 by Analysts at Oppenheimer

Vertex Pharmaceuticals (NASDAQ:VRTX) had its target price cut by Oppenheimer from $550.00 to $540.00 in a research report released on Wednesday, Benzinga reports. They currently have an outperform rating on the pharmaceutical company’s stock.

Several other equities research analysts have also recently commented on the stock. Truist Financial reiterated a “buy” rating and set a $550.00 price target (up previously from $508.00) on shares of Vertex Pharmaceuticals in a research report on Monday, August 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, July 26th. Cantor Fitzgerald reissued an “overweight” rating and issued a $480.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, October 8th. JPMorgan Chase & Co. lifted their price objective on Vertex Pharmaceuticals from $505.00 to $510.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, StockNews.com lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $492.50.

Vertex Pharmaceuticals Stock Down 1.0 %

Shares of VRTX opened at $471.12 on Wednesday. The firm has a market capitalization of $121.60 billion, a price-to-earnings ratio of -232.08 and a beta of 0.39. Vertex Pharmaceuticals has a 52 week low of $341.90 and a 52 week high of $510.64. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.26 and a current ratio of 2.52. The business’s fifty day moving average price is $474.53 and its two-hundred day moving average price is $464.95.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($12.54) by ($0.29). The firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.66 billion. Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. Vertex Pharmaceuticals’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.53 EPS. On average, analysts predict that Vertex Pharmaceuticals will post -2.04 earnings per share for the current year.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $500.00, for a total value of $323,000.00. Following the sale, the director now owns 4,435 shares in the company, valued at approximately $2,217,500. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $500.00, for a total value of $323,000.00. Following the sale, the director now directly owns 4,435 shares in the company, valued at $2,217,500. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the completion of the sale, the chairman now directly owns 9,994 shares in the company, valued at approximately $4,987,006. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,710 shares of company stock worth $3,298,206. 0.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Vertex Pharmaceuticals

Several hedge funds have recently modified their holdings of the stock. Northwest Investment Counselors LLC acquired a new position in Vertex Pharmaceuticals during the third quarter valued at approximately $25,000. Highline Wealth Partners LLC bought a new position in shares of Vertex Pharmaceuticals in the third quarter valued at $27,000. GHP Investment Advisors Inc. acquired a new position in Vertex Pharmaceuticals during the second quarter worth $29,000. Stephens Consulting LLC bought a new stake in Vertex Pharmaceuticals during the second quarter worth $31,000. Finally, Founders Capital Management lifted its stake in Vertex Pharmaceuticals by 50.0% in the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock valued at $35,000 after acquiring an additional 25 shares during the last quarter. Institutional investors own 90.96% of the company’s stock.

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.