Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target Raised to $451.00

Vertex Pharmaceuticals (NASDAQ:VRTX) had its target price hoisted by stock analysts at Royal Bank of Canada from $437.00 to $451.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “sector perform” rating on the pharmaceutical company’s stock. Royal Bank of Canada’s price target indicates a potential downside of 9.09% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, July 26th. StockNews.com lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Canaccord Genuity Group lifted their price objective on Vertex Pharmaceuticals from $371.00 to $376.00 and gave the stock a “sell” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. dropped their price objective on Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Piper Sandler lifted their price objective on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $493.38.

Vertex Pharmaceuticals Stock Up 4.9 %

VRTX traded up $23.31 during trading on Tuesday, reaching $496.11. 649,911 shares of the stock traded hands, compared to its average volume of 1,164,601. The stock has a market cap of $128.05 billion, a price-to-earnings ratio of -243.30 and a beta of 0.39. Vertex Pharmaceuticals has a fifty-two week low of $341.90 and a fifty-two week high of $510.64. 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 stock’s 50-day simple moving average is $474.34 and its two-hundred day simple moving average is $466.02.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, beating the consensus estimate of $3.61 by $0.77. Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same period last year, the company earned $3.67 earnings per share. The business’s revenue was up 11.6% compared to the same quarter last year. As a group, equities research analysts expect that Vertex Pharmaceuticals will post -2.04 EPS for the current year.

Insider Transactions at Vertex Pharmaceuticals

In other news, CMO Carmen Bozic sold 2,280 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $476.75, for a total value of $1,086,990.00. Following the transaction, the chief marketing officer now directly owns 23,259 shares of the company’s stock, valued at $11,088,728.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $499.00, for a total value of $1,888,216.00. Following the completion of the transaction, the chairman now owns 9,994 shares in the company, valued at $4,987,006. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CMO Carmen Bozic sold 2,280 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $476.75, for a total transaction of $1,086,990.00. Following the completion of the transaction, the chief marketing officer now owns 23,259 shares of the company’s stock, valued at $11,088,728.25. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,710 shares of company stock valued at $3,298,206 in the last three months. 0.20% of the stock is owned by corporate insiders.

Institutional Trading of Vertex Pharmaceuticals

Large investors have recently made changes to their positions in the company. Northwest Investment Counselors LLC bought a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter valued at $25,000. Highline Wealth Partners LLC bought a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter valued at $27,000. GHP Investment Advisors Inc. bought a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter valued at $29,000. Stephens Consulting LLC acquired a new position in Vertex Pharmaceuticals in the 2nd quarter worth $31,000. Finally, Founders Capital Management boosted its stake in Vertex Pharmaceuticals by 50.0% in the 2nd quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock worth $35,000 after purchasing an additional 25 shares during the period. Institutional investors own 90.96% of the company’s stock.

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.