Vertex Pharmaceuticals (NASDAQ:VRTX) Earns Sector Perform Rating from Analysts at Scotiabank

Analysts at Scotiabank initiated coverage on shares of Vertex Pharmaceuticals (NASDAQ:VRTX) in a report issued on Wednesday, Briefing.com reports. The firm set a “sector perform” rating on the pharmaceutical company’s stock.

Other research analysts have also recently issued research reports about the stock. Redburn Atlantic assumed coverage on shares of Vertex Pharmaceuticals in a research report on Thursday, June 27th. They set a “buy” rating and a $545.00 price target on the stock. TD Cowen upped their target price on shares of Vertex Pharmaceuticals from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $480.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, October 8th. HC Wainwright upped their target price on shares of Vertex Pharmaceuticals from $500.00 to $600.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Finally, Canaccord Genuity Group upped their target price on shares of Vertex Pharmaceuticals from $371.00 to $376.00 and gave the company a “sell” rating in a research report on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $489.30.

Vertex Pharmaceuticals Trading Down 0.1 %

Shares of VRTX stock opened at $484.30 on Wednesday. The company’s 50-day moving average price is $473.84 and its 200-day moving average price is $458.61. The company has a current ratio of 2.52, a quick ratio of 2.26 and a debt-to-equity ratio of 0.02. The stock has a market cap of $125.00 billion, a price-to-earnings ratio of -238.57 and a beta of 0.40. Vertex Pharmaceuticals has a twelve month low of $341.90 and a twelve month high of $510.64.

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

Insider Buying and Selling

In related news, Director Sangeeta N. Bhatia sold 646 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Vertex Pharmaceuticals news, CEO Reshma Kewalramani sold 15,202 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $497.00, for a total value of $7,555,394.00. Following the transaction, the chief executive officer now directly owns 106,172 shares in the company, valued at $52,767,484. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sangeeta N. Bhatia sold 646 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were 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 in the company, valued at $2,217,500. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,487 shares of company stock worth $14,657,149. Company insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Vertex Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in VRTX. Centaurus Financial Inc. increased its stake in Vertex Pharmaceuticals by 24.9% in the fourth quarter. Centaurus Financial Inc. now owns 581 shares of the pharmaceutical company’s stock valued at $236,000 after purchasing an additional 116 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Vertex Pharmaceuticals by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 26,680 shares of the pharmaceutical company’s stock worth $10,856,000 after acquiring an additional 334 shares during the last quarter. CWM LLC grew its position in shares of Vertex Pharmaceuticals by 8.5% during the first quarter. CWM LLC now owns 6,040 shares of the pharmaceutical company’s stock worth $2,525,000 after acquiring an additional 475 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of Vertex Pharmaceuticals by 25.4% in the first quarter. Massmutual Trust Co. FSB ADV now owns 863 shares of the pharmaceutical company’s stock valued at $361,000 after buying an additional 175 shares during the last quarter. Finally, Wedmont Private Capital boosted its stake in shares of Vertex Pharmaceuticals by 7.5% during the first quarter. Wedmont Private Capital now owns 3,058 shares of the pharmaceutical company’s stock worth $1,237,000 after buying an additional 213 shares during the period. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

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.