Vertex Pharmaceuticals (NASDAQ:VRTX) PT Raised to $562.00

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price objective upped by research analysts at UBS Group from $477.00 to $562.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the pharmaceutical company’s stock. UBS Group’s price objective would indicate a potential upside of 12.89% from the company’s previous close.

A number of other research firms also recently weighed in on VRTX. Oppenheimer upped their target price on shares of Vertex Pharmaceuticals from $500.00 to $550.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Morgan Stanley increased their price objective on Vertex Pharmaceuticals from $462.00 to $474.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 1st. Wells Fargo & Company lifted their target price on shares of Vertex Pharmaceuticals from $540.00 to $555.00 and gave the stock an “overweight” rating in a research report on Monday, June 24th. Truist Financial reaffirmed a “buy” rating and set a $550.00 price target (up previously from $508.00) on shares of Vertex Pharmaceuticals in a research report on Monday, August 5th. Finally, Scotiabank assumed coverage on Vertex Pharmaceuticals in a research report on Wednesday. They set a “sector perform” rating and a $480.00 target price on the stock. Three equities research 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. Based on data from MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of “Hold” and an average target price of $492.92.

Vertex Pharmaceuticals Price Performance

NASDAQ VRTX traded up $10.60 during trading on Thursday, reaching $497.85. The company’s stock had a trading volume of 242,839 shares, compared to its average volume of 1,168,489. The firm has a fifty day moving average of $474.27 and a 200 day moving average of $458.81. The stock has a market capitalization of $128.50 billion, a PE ratio of -244.68 and a beta of 0.40. 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 one year low of $341.90 and a one year high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the previous year, the business earned $3.53 EPS. Vertex Pharmaceuticals’s revenue for the quarter was up 6.1% compared to the same quarter last year. Analysts expect that Vertex Pharmaceuticals will post -2.14 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CMO Carmen Bozic sold 2,280 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief marketing officer now owns 23,259 shares in the company, valued at $11,088,728.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $500.00, for a total transaction of $323,000.00. Following the completion of the transaction, the director now owns 4,435 shares in the company, valued at approximately $2,217,500. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CMO Carmen Bozic sold 2,280 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $476.75, for a total value of $1,086,990.00. Following the sale, the chief marketing officer now owns 23,259 shares in the company, valued at $11,088,728.25. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,487 shares of company stock worth $14,657,149 in the last 90 days. Insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Vertex Pharmaceuticals

A number of institutional investors have recently modified their holdings of VRTX. Annapolis Financial Services LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 1st quarter valued at about $27,000. GHP Investment Advisors Inc. acquired a new stake in Vertex Pharmaceuticals in the 2nd quarter worth about $29,000. Stephens Consulting LLC acquired a new stake in Vertex Pharmaceuticals in the 2nd quarter worth about $31,000. Founders Capital Management boosted its holdings 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 buying an additional 25 shares during the last quarter. Finally, ZRC Wealth Management LLC acquired a new stake in Vertex Pharmaceuticals in the 1st quarter worth about $39,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

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.