Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target Raised to $586.00

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price target upped by UBS Group from $562.00 to $586.00 in a research note issued to investors on Tuesday,Benzinga reports. UBS Group currently has a buy rating on the pharmaceutical company’s stock.

VRTX has been the topic of several other research reports. Oppenheimer reduced their price target on shares of Vertex Pharmaceuticals from $550.00 to $540.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, July 26th. Royal Bank of Canada increased their price target on shares of Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a “sector perform” rating in a report on Tuesday. Piper Sandler boosted their price objective on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, Raymond James reiterated a “market perform” rating on shares of Vertex Pharmaceuticals in a report on Thursday, October 10th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $495.96.

Vertex Pharmaceuticals Stock Up 1.8 %

Shares of VRTX stock opened at $502.45 on Tuesday. The company’s fifty day simple moving average is $474.81 and its two-hundred day simple moving average is $466.95. 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 $129.68 billion, a P/E ratio of -252.49 and a beta of 0.39. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 0.02.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, topping analysts’ consensus estimates of $3.61 by $0.77. Vertex Pharmaceuticals had a negative return on equity of 1.88% and a negative net margin of 4.52%. The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same period in the previous year, the business earned $3.67 earnings per share. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. Analysts predict that Vertex Pharmaceuticals will post -2.04 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Chairman Jeffrey M. Leiden sold 3,784 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $499.00, for a total value of $1,888,216.00. Following the completion of the sale, the chairman now owns 9,994 shares in the company, valued at approximately $4,987,006. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $500.00, for a total value of $323,000.00. Following the transaction, the director now owns 4,435 shares in the company, valued at $2,217,500. The trade was 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 stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the sale, the chairman now directly owns 9,994 shares of the company’s stock, valued at approximately $4,987,006. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Northwest Investment Counselors LLC purchased a new position in Vertex Pharmaceuticals in the third quarter worth $25,000. Highline Wealth Partners LLC purchased a new position in Vertex Pharmaceuticals during the 3rd quarter worth $27,000. GHP Investment Advisors Inc. acquired a new position in Vertex Pharmaceuticals during the 2nd quarter valued at about $29,000. Stephens Consulting LLC purchased a new stake in Vertex Pharmaceuticals in the second quarter valued at about $31,000. Finally, Founders Capital Management boosted its holdings in Vertex Pharmaceuticals by 50.0% in the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock worth $35,000 after acquiring an additional 25 shares in 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.