Vertex Pharmaceuticals (NASDAQ:VRTX) Given New $420.00 Price Target at Royal Bank of Canada

Vertex Pharmaceuticals (NASDAQ:VRTX) had its target price boosted by Royal Bank of Canada from $408.00 to $420.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has a sector perform rating on the pharmaceutical company’s stock.

Other research analysts have also recently issued reports about the stock. Oppenheimer cut shares of Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Barclays boosted their price target on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 11th. Truist Financial increased their price objective on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. BMO Capital Markets set a $545.00 target price on shares of Vertex Pharmaceuticals in a research note on Friday, January 31st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $480.00 price target on shares of Vertex Pharmaceuticals in a research note 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. According to data from MarketBeat.com, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $509.17.

Vertex Pharmaceuticals Trading Down 0.0 %

NASDAQ:VRTX opened at $484.74 on Tuesday. The firm has a market capitalization of $124.48 billion, a P/E ratio of -220.34, a PEG ratio of 2.11 and a beta of 0.41. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35. Vertex Pharmaceuticals has a one year low of $377.85 and a one year high of $519.88. The company’s 50-day simple moving average is $478.85 and its 200 day simple moving average is $463.67.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share 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%. As a group, analysts forecast that Vertex Pharmaceuticals will post 15.63 EPS for the current fiscal year.

Insider Transactions at Vertex Pharmaceuticals

In other news, EVP David Altshuler sold 3,231 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $500.00, for a total value of $1,615,500.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ourania Tatsis sold 310 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $459.83, for a total value of $142,547.30. Following the transaction, the executive vice president now directly owns 64,021 shares of the company’s stock, valued at approximately $29,438,776.43. The trade was a 0.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,315 shares of company stock valued at $2,121,012. 0.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Vertex Pharmaceuticals

Several institutional investors have recently bought and sold shares of VRTX. Dunhill Financial LLC raised its position in shares of Vertex Pharmaceuticals by 70.6% during the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after buying an additional 24 shares in the last quarter. Brown Lisle Cummings Inc. purchased a new position in shares of Vertex Pharmaceuticals in the 4th quarter worth approximately $30,000. Mascagni Wealth Management Inc. purchased a new stake in Vertex Pharmaceuticals during the 4th quarter valued at $31,000. Legacy Investment Solutions LLC purchased a new position in Vertex Pharmaceuticals during the third quarter worth $33,000. Finally, Sugar Maple Asset Management LLC bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth about $35,000. 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.