Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target Raised to $462.00

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price objective lifted by HC Wainwright from $457.00 to $462.00 in a research report released on Thursday, Benzinga reports. The brokerage currently has a buy rating on the pharmaceutical company’s stock.

Several other research analysts have also issued reports on the stock. Wolfe Research began coverage on shares of Vertex Pharmaceuticals in a research report on Thursday, February 15th. They issued an outperform rating and a $515.00 price target for the company. Canaccord Genuity Group restated a sell rating and set a $379.00 target price (up previously from $332.00) on shares of Vertex Pharmaceuticals in a research report on Wednesday, January 24th. Canaccord Genuity Group lowered Vertex Pharmaceuticals from a hold rating to a sell rating and increased their price objective for the stock from $332.00 to $379.00 in a research note on Wednesday, January 24th. JPMorgan Chase & Co. boosted their target price on shares of Vertex Pharmaceuticals from $390.00 to $438.00 and gave the company an overweight rating in a research note on Thursday, February 1st. Finally, Cantor Fitzgerald reissued an overweight rating and set a $440.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, February 20th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $420.33.

Vertex Pharmaceuticals Trading Down 0.9 %

Vertex Pharmaceuticals stock opened at $396.55 on Thursday. The business has a 50 day moving average price of $416.35 and a two-hundred day moving average price of $395.82. The company has a quick ratio of 3.78, a current ratio of 3.99 and a debt-to-equity ratio of 0.02. Vertex Pharmaceuticals has a 12 month low of $316.43 and a 12 month high of $448.40. The stock has a market cap of $102.49 billion, a price-to-earnings ratio of 28.55, a price-to-earnings-growth ratio of 2.18 and a beta of 0.35.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, February 5th. The pharmaceutical company reported $4.20 EPS for the quarter, beating analysts’ consensus estimates of $3.85 by $0.35. Vertex Pharmaceuticals had a return on equity of 21.91% and a net margin of 36.68%. The business had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period in the prior year, the company posted $3.33 earnings per share. As a group, equities analysts forecast that Vertex Pharmaceuticals will post 14.95 EPS for the current year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, EVP Ourania Tatsis sold 354 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $425.70, for a total value of $150,697.80. Following the completion of the sale, the executive vice president now directly owns 55,804 shares of the company’s stock, valued at approximately $23,755,762.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Vertex Pharmaceuticals news, CAO Kristen Ambrose sold 1,374 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $420.24, for a total value of $577,409.76. Following the completion of the transaction, the chief accounting officer now directly owns 9,676 shares of the company’s stock, valued at $4,066,242.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Ourania Tatsis sold 354 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $425.70, for a total value of $150,697.80. Following the sale, the executive vice president now directly owns 55,804 shares in the company, valued at approximately $23,755,762.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,381 shares of company stock valued at $5,203,249. 0.40% of the stock is currently owned by company insiders.

Institutional Trading of Vertex Pharmaceuticals

Several hedge funds have recently bought and sold shares of VRTX. Vanguard Group Inc. boosted its stake in Vertex Pharmaceuticals by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 22,282,180 shares of the pharmaceutical company’s stock worth $9,066,396,000 after purchasing an additional 298,824 shares during the period. Capital World Investors raised its position in Vertex Pharmaceuticals by 21.3% in the 4th quarter. Capital World Investors now owns 21,805,770 shares of the pharmaceutical company’s stock valued at $8,872,586,000 after buying an additional 3,824,103 shares during the last quarter. Geode Capital Management LLC raised its position in Vertex Pharmaceuticals by 0.5% in the 1st quarter. Geode Capital Management LLC now owns 5,409,257 shares of the pharmaceutical company’s stock valued at $1,700,938,000 after buying an additional 26,538 shares during the last quarter. Jennison Associates LLC lifted its stake in Vertex Pharmaceuticals by 3.9% in the 4th quarter. Jennison Associates LLC now owns 3,944,913 shares of the pharmaceutical company’s stock valued at $1,605,146,000 after acquiring an additional 147,248 shares in the last quarter. Finally, Capital Research Global Investors boosted its position in Vertex Pharmaceuticals by 5.8% during the 4th quarter. Capital Research Global Investors now owns 3,567,664 shares of the pharmaceutical company’s stock worth $1,451,647,000 after acquiring an additional 195,080 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

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.