Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target Raised to $562.00 at UBS Group

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price target raised by UBS Group from $477.00 to $562.00 in a research report released on Thursday, Benzinga reports. They currently have a buy rating on the pharmaceutical company’s stock.

A number of other equities research analysts have also weighed in on VRTX. Raymond James reiterated a “market perform” rating on shares of Vertex Pharmaceuticals in a research note on Thursday, October 10th. Truist Financial reiterated a “buy” rating and set a $550.00 price objective (up previously from $508.00) on shares of Vertex Pharmaceuticals in a research report on Monday, August 5th. Scotiabank initiated coverage on Vertex Pharmaceuticals in a research report on Wednesday. They issued a “sector perform” rating and a $480.00 target price on the stock. TD Cowen boosted their price target on Vertex Pharmaceuticals from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday, July 26th. Three 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.com, Vertex Pharmaceuticals currently has a consensus rating of “Hold” and a consensus price target of $492.92.

Vertex Pharmaceuticals Stock Up 2.4 %

VRTX stock opened at $498.73 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.52 and a quick ratio of 2.26. Vertex Pharmaceuticals has a 1-year low of $341.90 and a 1-year high of $510.64. The stock has a market capitalization of $128.72 billion, a P/E ratio of -245.68 and a beta of 0.40. The business has a fifty day moving average price of $474.92 and a 200-day moving average price of $459.08.

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

Insider Buying and Selling

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 5,295 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $508.00, for a total value of $2,689,860.00. Following the transaction, the director now owns 40,000 shares of the company’s stock, valued at $20,320,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 5,295 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $508.00, for a total value of $2,689,860.00. Following the transaction, the director now directly owns 40,000 shares in the company, valued at $20,320,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals 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 of the company’s stock, valued at $2,217,500. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 29,487 shares of company stock valued at $14,657,149. Insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Vertex Pharmaceuticals

Institutional investors have recently made changes to their positions in the company. GHP Investment Advisors Inc. bought a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter valued at about $29,000. Annapolis Financial Services LLC purchased a new position in Vertex Pharmaceuticals during the first quarter valued at approximately $27,000. Stephens Consulting LLC purchased a new position in Vertex Pharmaceuticals during the second quarter valued at approximately $31,000. Founders Capital Management lifted its holdings 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 period. Finally, ZRC Wealth Management LLC bought a new stake in Vertex Pharmaceuticals during the 1st quarter valued at $39,000. Hedge funds and other 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.