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

Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) have been given an average recommendation of “Moderate Buy” by the thirty research firms that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation, seventeen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $499.12.

A number of equities research analysts have recently weighed in on the stock. Oppenheimer dropped their price objective on shares of Vertex Pharmaceuticals from $550.00 to $540.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Barclays cut Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $472.00 to $509.00 in a research note on Monday, August 5th. Canaccord Genuity Group upped their target price on Vertex Pharmaceuticals from $361.00 to $408.00 and gave the company a “sell” rating in a research report on Wednesday, November 6th. Cantor Fitzgerald reissued an “overweight” rating and set a $480.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, November 5th. Finally, Morgan Stanley upped their price objective on shares of Vertex Pharmaceuticals from $473.00 to $476.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 3,784 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $499.00, for a total value of $1,888,216.00. Following the transaction, the chairman now owns 9,994 shares in the company, valued at approximately $4,987,006. This trade represents a 27.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals 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 sale, the director now directly owns 4,435 shares in the company, valued at approximately $2,217,500. This trade represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Vertex Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the business. Capital World Investors raised its holdings in Vertex Pharmaceuticals by 17.2% in the 1st quarter. Capital World Investors now owns 25,567,184 shares of the pharmaceutical company’s stock valued at $10,687,339,000 after acquiring an additional 3,761,414 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of Vertex Pharmaceuticals by 61.0% in the first quarter. Capital Research Global Investors now owns 5,743,882 shares of the pharmaceutical company’s stock valued at $2,401,000,000 after purchasing an additional 2,176,218 shares during the last quarter. Edgewood Management LLC lifted its position in Vertex Pharmaceuticals by 7,876.3% during the third quarter. Edgewood Management LLC now owns 1,546,370 shares of the pharmaceutical company’s stock worth $719,186,000 after buying an additional 1,526,983 shares in the last quarter. Jennison Associates LLC boosted its stake in Vertex Pharmaceuticals by 18.1% during the third quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company’s stock worth $2,581,373,000 after buying an additional 851,054 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in Vertex Pharmaceuticals by 17.2% in the 3rd quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company’s stock valued at $2,231,858,000 after buying an additional 704,421 shares in the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Stock Up 0.3 %

Shares of NASDAQ:VRTX opened at $467.01 on Tuesday. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. The business’s 50-day moving average is $476.31 and its 200 day moving average is $472.56. Vertex Pharmaceuticals has a 1 year low of $346.29 and a 1 year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, beating the consensus estimate of $3.61 by $0.77. The firm had revenue of $2.77 billion during 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%. Vertex Pharmaceuticals’s revenue was up 11.6% on a year-over-year basis. During the same period last year, the firm posted $3.67 EPS. On average, analysts anticipate that Vertex Pharmaceuticals will post -1.82 earnings per share for the current fiscal 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.