Vertex Pharmaceuticals (NASDAQ:VRTX) Raised to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Vertex Pharmaceuticals (NASDAQ:VRTX) from a buy rating to a strong-buy rating in a report issued on Friday morning.

VRTX has been the subject of several other research reports. Barclays raised their price objective on shares of Vertex Pharmaceuticals from $446.00 to $472.00 and gave the stock an overweight rating in a research report on Tuesday, February 6th. Guggenheim upped their price objective on shares of Vertex Pharmaceuticals from $445.00 to $450.00 and gave the company a buy rating in a report on Thursday, April 18th. Maxim Group lowered Vertex Pharmaceuticals from a buy rating to a hold rating in a research report on Wednesday, January 31st. Royal Bank of Canada increased their price target on Vertex Pharmaceuticals from $397.00 to $420.00 and gave the stock a sector perform rating in a report on Tuesday, February 6th. Finally, HC Wainwright boosted their price objective on Vertex Pharmaceuticals from $457.00 to $462.00 and gave the company a buy rating in a report on Thursday, April 11th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $430.86.

Vertex Pharmaceuticals Price Performance

VRTX stock opened at $401.08 on Friday. The company has a quick ratio of 3.78, a current ratio of 3.99 and a debt-to-equity ratio of 0.02. The firm has a market cap of $103.66 billion, a price-to-earnings ratio of 28.88, a PEG ratio of 1.89 and a beta of 0.39. The company’s fifty day simple moving average is $409.06 and its 200 day simple moving average is $400.14. Vertex Pharmaceuticals has a 12-month low of $320.01 and a 12-month high of $448.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, February 5th. The pharmaceutical company reported $4.20 earnings per share (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 company had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the previous year, the business earned $3.33 EPS. On average, analysts expect that Vertex Pharmaceuticals will post 14.95 earnings per share for the current year.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 354 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $425.70, for a total transaction of $150,697.80. Following the completion of the transaction, the executive vice president now directly owns 55,804 shares of the company’s stock, valued at $23,755,762.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Chairman Jeffrey M. Leiden sold 2,656 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $419.51, for a total value of $1,114,218.56. Following the completion of the transaction, the chairman now directly owns 27,644 shares of the company’s stock, valued at $11,596,934.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ourania Tatsis sold 354 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $425.70, for a total value of $150,697.80. Following the sale, the executive vice president now owns 55,804 shares in the company, valued at $23,755,762.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,381 shares of company stock valued at $5,203,249. Company insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. Venturi Wealth Management LLC increased its position in shares of Vertex Pharmaceuticals by 1.1% in the fourth quarter. Venturi Wealth Management LLC now owns 2,293 shares of the pharmaceutical company’s stock valued at $933,000 after acquiring an additional 24 shares during the period. Nicholas Hoffman & Company LLC. raised its stake in Vertex Pharmaceuticals by 3.9% in the fourth quarter. Nicholas Hoffman & Company LLC. now owns 636 shares of the pharmaceutical company’s stock worth $259,000 after buying an additional 24 shares in the last quarter. Hohimer Wealth Management LLC grew its holdings in shares of Vertex Pharmaceuticals by 0.8% during the 4th quarter. Hohimer Wealth Management LLC now owns 2,932 shares of the pharmaceutical company’s stock worth $1,193,000 after acquiring an additional 24 shares during the period. Johnson Financial Group Inc. lifted its stake in shares of Vertex Pharmaceuticals by 2.5% in the 4th quarter. Johnson Financial Group Inc. now owns 1,001 shares of the pharmaceutical company’s stock valued at $407,000 after purchasing an additional 24 shares during the period. Finally, Arthur M. Cohen & Associates LLC grew its stake in Vertex Pharmaceuticals by 3.2% in the fourth quarter. Arthur M. Cohen & Associates LLC now owns 800 shares of the pharmaceutical company’s stock worth $326,000 after purchasing an additional 25 shares during the period. 90.96% of the stock is currently 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.