Brokerages Set Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Price Target at $486.36

Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) have earned an average rating of “Moderate Buy” from the twenty-six ratings firms that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and sixteen have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $486.36.

A number of analysts have recently weighed in on VRTX shares. Truist Financial reiterated a “buy” rating and issued a $550.00 price objective (up previously from $508.00) on shares of Vertex Pharmaceuticals in a research note on Monday, August 5th. Redburn Atlantic began coverage on Vertex Pharmaceuticals in a research note on Thursday, June 27th. They set a “buy” rating and a $545.00 price objective for the company. Royal Bank of Canada restated a “sector perform” rating and issued a $431.00 target price on shares of Vertex Pharmaceuticals in a research note on Thursday, September 19th. Oppenheimer lifted their price target on Vertex Pharmaceuticals from $500.00 to $550.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Finally, Piper Sandler upped their price objective on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 5,295 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $508.00, for a total value of $2,689,860.00. Following the transaction, the director now owns 40,000 shares in the company, valued at approximately $20,320,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of the business’s stock in a transaction 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 transaction, the director now owns 4,435 shares of the company’s stock, valued at $2,217,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bruce I. Sachs sold 5,295 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $508.00, for a total value of $2,689,860.00. Following the completion of the sale, the director now owns 40,000 shares of the company’s stock, valued at $20,320,000. The disclosure for this sale can be found here. Insiders have sold 31,767 shares of company stock valued at $15,768,284 over the last ninety days. Insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Brookstone Capital Management boosted its holdings in Vertex Pharmaceuticals by 11.1% in the 1st quarter. Brookstone Capital Management now owns 2,368 shares of the pharmaceutical company’s stock valued at $990,000 after purchasing an additional 237 shares during the last quarter. Brevan Howard Capital Management LP lifted its holdings in Vertex Pharmaceuticals by 216.3% in the fourth quarter. Brevan Howard Capital Management LP now owns 4,830 shares of the pharmaceutical company’s stock valued at $1,965,000 after acquiring an additional 3,303 shares during the last quarter. Greenwood Capital Associates LLC increased its stake in Vertex Pharmaceuticals by 11.3% during the fourth quarter. Greenwood Capital Associates LLC now owns 25,345 shares of the pharmaceutical company’s stock worth $10,313,000 after acquiring an additional 2,576 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services acquired a new stake in Vertex Pharmaceuticals during the first quarter worth $2,763,000. Finally, Blue Trust Inc. raised its position in Vertex Pharmaceuticals by 640.0% in the second quarter. Blue Trust Inc. now owns 1,443 shares of the pharmaceutical company’s stock valued at $676,000 after purchasing an additional 1,248 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock opened at $462.88 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.52 and a quick ratio of 2.26. The business has a fifty day moving average of $479.92 and a 200 day moving average of $453.57. The firm has a market capitalization of $119.47 billion, a price-to-earnings ratio of 30.04 and a beta of 0.40. Vertex Pharmaceuticals has a 1 year low of $341.85 and a 1 year high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same period last year, the firm earned $3.53 EPS. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, research analysts expect that Vertex Pharmaceuticals will post -2.14 earnings per share for the current year.

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.