Vertex Pharmaceuticals (NASDAQ:VRTX) Rating Increased to Buy at StockNews.com

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

A number of other equities analysts have also weighed in on VRTX. HC Wainwright reiterated a “buy” rating and issued a $550.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Stifel Nicolaus raised their price target on Vertex Pharmaceuticals from $490.00 to $494.00 and gave the company a “hold” rating in a report on Monday, December 16th. Scotiabank upped their price objective on Vertex Pharmaceuticals from $433.00 to $450.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. Finally, Canaccord Genuity Group upgraded Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and increased their target price for the stock from $408.00 to $424.00 in a research report on Tuesday, February 11th. Ten investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $506.70.

Vertex Pharmaceuticals Price Performance

Shares of Vertex Pharmaceuticals stock opened at $495.42 on Tuesday. The stock has a market cap of $127.22 billion, a P/E ratio of -225.19, a P/E/G ratio of 2.11 and a beta of 0.41. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69. The stock’s fifty day moving average is $453.85 and its 200 day moving average is $461.58. Vertex Pharmaceuticals has a one year low of $377.85 and a one year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 EPS for the quarter, missing the consensus estimate of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. Sell-side analysts anticipate that Vertex Pharmaceuticals will post 15.63 earnings per share for the current year.

Insider Activity

In related news, EVP David Altshuler sold 3,231 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the completion of the transaction, the executive vice president now directly owns 26,512 shares of the company’s stock, valued at approximately $13,256,000. The trade was a 10.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ourania Tatsis sold 244 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total transaction of $111,034.64. Following the completion of the sale, the executive vice president now directly owns 67,695 shares in the company, valued at $30,805,286.70. This trade represents a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,315 shares of company stock valued at $2,121,012 in the last ninety days. Insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Vertex Pharmaceuticals

A number of large investors have recently bought and sold shares of the business. Dunhill Financial LLC lifted its position in shares of Vertex Pharmaceuticals by 70.6% during the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 24 shares during the last quarter. Brown Lisle Cummings Inc. purchased a new position in Vertex Pharmaceuticals in the 4th quarter worth about $30,000. Legacy Investment Solutions LLC bought a new stake in Vertex Pharmaceuticals during the 3rd quarter valued at about $33,000. Truvestments Capital LLC purchased a new stake in Vertex Pharmaceuticals in the 3rd quarter valued at about $35,000. Finally, Sugar Maple Asset Management LLC bought a new position in Vertex Pharmaceuticals in the 4th quarter worth about $35,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

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.