Analysts Set Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Target Price at $495.96

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) has earned an average recommendation of “Moderate Buy” from the thirty research firms that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $499.12.

Several equities research analysts have issued reports on VRTX shares. JPMorgan Chase & Co. dropped their price target on Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Canaccord Genuity Group boosted their target price on Vertex Pharmaceuticals from $361.00 to $408.00 and gave the stock a “sell” rating in a research report on Wednesday, November 6th. 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 research report on Tuesday, November 5th. Piper Sandler lifted their price target on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, Guggenheim upped their price objective on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the company a “buy” rating in a research note on Friday, August 2nd.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, Chairman Jeffrey M. Leiden sold 3,784 shares of the stock in a transaction that occurred on 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 owns 9,994 shares in the company, valued at $4,987,006. This represents a 27.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction of $323,000.00. Following the completion of the transaction, the director now owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. The trade was a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Several large investors have recently bought and sold shares of VRTX. Groesbeck Investment Management Corp NJ grew its stake in shares of Vertex Pharmaceuticals by 1.2% in the second quarter. Groesbeck Investment Management Corp NJ now owns 1,794 shares of the pharmaceutical company’s stock worth $841,000 after acquiring an additional 21 shares during the period. Mutual Advisors LLC grew its position in Vertex Pharmaceuticals by 0.6% in the 3rd quarter. Mutual Advisors LLC now owns 3,710 shares of the pharmaceutical company’s stock worth $1,751,000 after purchasing an additional 21 shares during the period. Institute for Wealth Management LLC. raised its stake in Vertex Pharmaceuticals by 0.6% during the 2nd quarter. Institute for Wealth Management LLC. now owns 3,586 shares of the pharmaceutical company’s stock valued at $1,681,000 after buying an additional 22 shares during the last quarter. Drive Wealth Management LLC lifted its holdings in shares of Vertex Pharmaceuticals by 2.0% during the 2nd quarter. Drive Wealth Management LLC now owns 1,101 shares of the pharmaceutical company’s stock valued at $516,000 after buying an additional 22 shares during the period. Finally, Daymark Wealth Partners LLC boosted its stake in shares of Vertex Pharmaceuticals by 2.8% in the 3rd quarter. Daymark Wealth Partners LLC now owns 804 shares of the pharmaceutical company’s stock worth $374,000 after buying an additional 22 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Stock Down 3.8 %

Shares of NASDAQ VRTX opened at $465.70 on Tuesday. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average of $476.39 and a 200-day moving average of $471.06. The firm has a market capitalization of $119.93 billion, a price-to-earnings ratio of -234.02 and a beta of 0.39. Vertex Pharmaceuticals has a 12 month low of $341.90 and a 12 month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly 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. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.69 billion. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.67 EPS. Sell-side analysts expect that Vertex Pharmaceuticals will post -1.82 earnings per share for the current fiscal year.

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.