Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target Raised to $408.00 at Royal Bank of Canada

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price objective raised by Royal Bank of Canada from $407.00 to $408.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a sector perform rating on the pharmaceutical company’s stock.

A number of other research firms have also recently issued reports on VRTX. BMO Capital Markets cut their price target on Vertex Pharmaceuticals from $566.00 to $520.00 and set an “outperform” rating on the stock in a report on Friday, December 20th. JPMorgan Chase & Co. cut their price target on Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. Jefferies Financial Group upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and increased their price target for the stock from $500.00 to $550.00 in a report on Monday, December 9th. Canaccord Genuity Group upgraded Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and increased their price target for the stock from $408.00 to $424.00 in a report on Tuesday, February 11th. Finally, Citigroup assumed coverage on Vertex Pharmaceuticals in a report on Thursday, November 14th. They set a “buy” rating and a $575.00 price target on the stock. Eleven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $505.61.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock opened at $480.33 on Thursday. The business’s 50 day simple moving average is $435.64 and its 200 day simple moving average is $460.65. Vertex Pharmaceuticals has a one year low of $377.85 and a one year high of $519.88. The stock has a market capitalization of $123.34 billion, a PE ratio of -218.33, a PEG ratio of 2.03 and a beta of 0.41. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 EPS for the quarter, missing the consensus estimate of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. As a group, research analysts forecast that Vertex Pharmaceuticals will post 15.58 earnings per share for the current year.

Insider Activity at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 244 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total value of $111,034.64. Following the completion of the sale, the executive vice president now directly owns 67,695 shares of the company’s stock, valued at approximately $30,805,286.70. This represents a 0.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Several large investors have recently made changes to their positions in VRTX. Highline Wealth Partners LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter valued at $27,000. Dunhill Financial LLC increased its position in shares of Vertex Pharmaceuticals by 70.6% during the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 24 shares during the last quarter. Brown Lisle Cummings Inc. purchased a new stake in shares of Vertex Pharmaceuticals during the 4th quarter valued at $30,000. Legacy Investment Solutions LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter valued at $33,000. Finally, Truvestments Capital LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter valued at $35,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

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.