Vertex Pharmaceuticals (NASDAQ:VRTX) Given New $467.00 Price Target at Barclays

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price target hoisted by analysts at Barclays from $435.00 to $467.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the pharmaceutical company’s stock. Barclays‘s price objective suggests a potential upside of 3.05% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. BMO Capital Markets reduced their price objective on shares of Vertex Pharmaceuticals from $566.00 to $520.00 and set an “outperform” rating for the company in a report on Friday, December 20th. Wells Fargo & Company cut shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 price objective for the company. in a research report on Thursday, January 30th. Truist Financial lowered their price objective on shares of Vertex Pharmaceuticals from $550.00 to $460.00 and set a “buy” rating for the company in a research report on Monday, December 23rd. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday. Finally, JPMorgan Chase & Co. lowered their price target on shares of Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. Ten research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $505.96.

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX opened at $453.20 on Tuesday. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals has a 1 year low of $377.85 and a 1 year high of $519.88. The firm’s fifty day simple moving average is $435.91 and its 200 day simple moving average is $461.85. The firm has a market capitalization of $116.71 billion, a PE ratio of -227.74, a PEG ratio of 1.80 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. On average, sell-side analysts anticipate that Vertex Pharmaceuticals will post -1.94 EPS for the current year.

Insider Transactions at Vertex Pharmaceuticals

In other news, EVP Ourania Tatsis sold 310 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $459.83, for a total value of $142,547.30. Following the sale, the executive vice president now owns 64,021 shares of the company’s stock, valued at $29,438,776.43. The trade was a 0.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Vertex Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Vertex Pharmaceuticals by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 23,258,288 shares of the pharmaceutical company’s stock worth $9,366,113,000 after buying an additional 98,654 shares during the last quarter. State Street Corp increased its holdings in shares of Vertex Pharmaceuticals by 0.8% in the third quarter. State Street Corp now owns 11,816,249 shares of the pharmaceutical company’s stock valued at $5,495,501,000 after purchasing an additional 90,173 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Vertex Pharmaceuticals by 23.3% in the fourth quarter. Wellington Management Group LLP now owns 5,916,084 shares of the pharmaceutical company’s stock valued at $2,382,407,000 after acquiring an additional 1,117,214 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Vertex Pharmaceuticals by 18.1% in the third quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company’s stock valued at $2,581,373,000 after acquiring an additional 851,054 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its stake in shares of Vertex Pharmaceuticals by 23.0% in the fourth quarter. Loomis Sayles & Co. L P now owns 3,772,789 shares of the pharmaceutical company’s stock valued at $1,519,302,000 after acquiring an additional 704,575 shares in 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.