Vertex Pharmaceuticals (NASDAQ:VRTX) Given New $376.00 Price Target at Canaccord Genuity Group

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price objective increased by Canaccord Genuity Group from $371.00 to $376.00 in a research report released on Wednesday morning, Benzinga reports. They currently have a sell rating on the pharmaceutical company’s stock.

Several other research analysts have also recently weighed in on the company. UBS Group decreased their target price on Vertex Pharmaceuticals from $498.00 to $466.00 and set a buy rating for the company in a research note on Wednesday, April 17th. StockNews.com lowered shares of Vertex Pharmaceuticals from a strong-buy rating to a buy rating in a research report on Friday, July 26th. Royal Bank of Canada dropped their target price on shares of Vertex Pharmaceuticals from $424.00 to $421.00 and set a sector perform rating on the stock in a report on Tuesday, June 11th. BMO Capital Markets raised their target price on shares of Vertex Pharmaceuticals from $480.00 to $500.00 and gave the stock an outperform rating in a report on Friday, May 31st. Finally, Needham & Company LLC reaffirmed a hold rating on shares of Vertex Pharmaceuticals in a report on Friday, July 26th. 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 stock. According to MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of Moderate Buy and a consensus price target of $472.23.

Vertex Pharmaceuticals Stock Down 2.2 %

Vertex Pharmaceuticals stock opened at $494.46 on Wednesday. Vertex Pharmaceuticals has a 52 week low of $340.20 and a 52 week high of $510.64. The stock has a market cap of $127.60 billion, a price-to-earnings ratio of 32.09 and a beta of 0.39. The company’s 50-day moving average price is $479.25 and its two-hundred day moving average price is $439.77. The company has a current ratio of 3.50, a quick ratio of 3.29 and a debt-to-equity ratio of 0.02.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, May 6th. The pharmaceutical company reported $4.76 EPS for the quarter, beating analysts’ consensus estimates of $3.66 by $1.10. The business had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.58 billion. Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.36%. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter last year, the business earned $2.67 earnings per share. On average, analysts expect that Vertex Pharmaceuticals will post -1.04 EPS for the current fiscal year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, insider Reshma Kewalramani 15,202 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Charles F. Wagner, Jr. sold 3,250 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $454.79, for a total transaction of $1,478,067.50. Following the transaction, the chief financial officer now owns 50,387 shares of the company’s stock, valued at $22,915,503.73. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Reshma Kewalramani 15,202 shares of the stock in a transaction dated Tuesday, July 30th. The disclosure for this trade can be found here. In the last quarter, insiders have sold 53,423 shares of company stock worth $25,528,865. 0.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Vertex Pharmaceuticals

A number of large investors have recently bought and sold shares of the business. Groesbeck Investment Management Corp NJ boosted its holdings in shares of Vertex Pharmaceuticals by 1.2% during the 2nd quarter. Groesbeck Investment Management Corp NJ now owns 1,794 shares of the pharmaceutical company’s stock worth $841,000 after buying an additional 21 shares during the period. Institute for Wealth Management LLC. boosted its holdings in Vertex Pharmaceuticals by 0.6% during the second quarter. Institute for Wealth Management LLC. now owns 3,586 shares of the pharmaceutical company’s stock valued at $1,681,000 after acquiring an additional 22 shares during the period. Drive Wealth Management LLC grew its position in shares of Vertex Pharmaceuticals by 2.0% in the second quarter. Drive Wealth Management LLC now owns 1,101 shares of the pharmaceutical company’s stock valued at $516,000 after purchasing an additional 22 shares during the last quarter. RFP Financial Group LLC increased its stake in shares of Vertex Pharmaceuticals by 17.0% in the second quarter. RFP Financial Group LLC now owns 158 shares of the pharmaceutical company’s stock worth $74,000 after purchasing an additional 23 shares during the period. Finally, Venturi Wealth Management LLC lifted its position in shares of Vertex Pharmaceuticals by 1.1% during the 4th quarter. Venturi Wealth Management LLC now owns 2,293 shares of the pharmaceutical company’s stock worth $933,000 after purchasing an additional 24 shares during the last quarter. 90.96% of the stock is currently owned by 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.