Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target Raised to $500.00

Vertex Pharmaceuticals (NASDAQ:VRTX) had its target price boosted by TD Cowen from $450.00 to $500.00 in a research note published on Tuesday morning, Benzinga reports. They currently have a buy rating on the pharmaceutical company’s stock.

Other equities analysts have also recently issued reports about the stock. StockNews.com upgraded shares of Vertex Pharmaceuticals from a buy rating to a strong-buy rating in a report on Tuesday, July 2nd. Cantor Fitzgerald boosted their price target on shares of Vertex Pharmaceuticals from $440.00 to $480.00 and gave the company an overweight rating in a report on Monday, July 22nd. Redburn Atlantic assumed coverage on shares of Vertex Pharmaceuticals in a report on Thursday, June 27th. They set a buy rating and a $545.00 price target on the stock. Morgan Stanley boosted their price target on shares of Vertex Pharmaceuticals from $402.00 to $455.00 and gave the company an equal weight rating in a report on Thursday, July 11th. Finally, Oppenheimer restated an outperform rating and set a $500.00 price target on shares of Vertex Pharmaceuticals in a report on Monday, April 15th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $460.30.

Vertex Pharmaceuticals Trading Up 0.6 %

NASDAQ VRTX opened at $495.26 on Tuesday. Vertex Pharmaceuticals has a twelve month low of $340.20 and a twelve month high of $503.99. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.29 and a current ratio of 3.50. The stock has a market cap of $127.80 billion, a price-to-earnings ratio of 32.14, a PEG ratio of 2.56 and a beta of 0.39. The firm’s 50 day moving average price is $474.18 and its two-hundred day moving average price is $437.29.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share for the quarter, topping the consensus estimate of $3.66 by $1.10. Vertex Pharmaceuticals had a net margin of 39.46% and a return on equity of 23.08%. The firm had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $2.58 billion. During the same period in the previous year, the company posted $2.67 EPS. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. Equities analysts anticipate that Vertex Pharmaceuticals will post 15.02 EPS for the current year.

Insider Activity

In other news, CEO Reshma Kewalramani sold 1,565 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $457.00, for a total transaction of $715,205.00. Following the completion of the transaction, the chief executive officer now owns 121,374 shares of the company’s stock, valued at $55,467,918. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CMO Carmen Bozic sold 2,280 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $488.46, for a total value of $1,113,688.80. Following the sale, the chief marketing officer now owns 25,539 shares of the company’s stock, valued at $12,474,779.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Reshma Kewalramani sold 1,565 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $457.00, for a total transaction of $715,205.00. Following the completion of the sale, the chief executive officer now directly owns 121,374 shares in the company, valued at approximately $55,467,918. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,128 shares of company stock valued at $22,839,005. Insiders own 0.20% of the company’s stock.

Institutional Trading of Vertex Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Managment Co. bought a new stake in Vertex Pharmaceuticals during the fourth quarter worth about $25,000. Annapolis Financial Services LLC bought a new stake in Vertex Pharmaceuticals during the first quarter worth about $27,000. Arlington Trust Co LLC grew its stake in Vertex Pharmaceuticals by 97.1% during the fourth quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock worth $27,000 after buying an additional 33 shares during the last quarter. ICA Group Wealth Management LLC bought a new stake in Vertex Pharmaceuticals during the fourth quarter worth about $28,000. Finally, Founders Capital Management grew its stake in Vertex Pharmaceuticals by 50.0% during the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock worth $35,000 after buying an additional 25 shares during the last quarter. 90.96% of the stock is owned by 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.