Scotiabank Lowers Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target to $442.00

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price objective cut by Scotiabank from $450.00 to $442.00 in a report published on Tuesday morning, Marketbeat reports. They currently have a sector perform rating on the pharmaceutical company’s stock.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. boosted their target price on shares of Vertex Pharmaceuticals from $512.00 to $515.00 and gave the stock an “overweight” rating in a report on Tuesday. Wells Fargo & Company lowered 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 note on Thursday, January 30th. Morgan Stanley raised their target price on shares of Vertex Pharmaceuticals from $462.00 to $464.00 and gave the company an “equal weight” rating in a research note on Tuesday. Barclays lifted their price target on shares of Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. Finally, BMO Capital Markets set a $545.00 price objective on Vertex Pharmaceuticals in a report on Friday, January 31st. Thirteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $515.04.

Vertex Pharmaceuticals Price Performance

NASDAQ VRTX opened at $429.60 on Tuesday. The company has a market cap of $110.44 billion, a PE ratio of -195.27, a P/E/G ratio of 2.11 and a beta of 0.51. The firm’s 50 day moving average price is $489.96 and its 200-day moving average price is $466.24. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69. Vertex Pharmaceuticals has a 52-week low of $377.85 and a 52-week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.29 by ($0.23). The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.85 billion. Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. The firm’s revenue was up 2.6% compared to the same quarter last year. During the same period last year, the business posted $4.76 EPS. Sell-side analysts forecast that Vertex Pharmaceuticals will post 15.63 EPS for the current fiscal year.

Insider Transactions at Vertex Pharmaceuticals

In other news, EVP Ourania Tatsis sold 530 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $475.34, for a total value of $251,930.20. Following the completion of the transaction, the executive vice president now owns 58,539 shares of the company’s stock, valued at $27,825,928.26. The trade was a 0.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP David Altshuler sold 3,231 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $500.00, for a total value of $1,615,500.00. Following the sale, the executive vice president now directly owns 26,512 shares in the company, valued at approximately $13,256,000. This trade represents a 10.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,315 shares of company stock worth $2,121,012 over the last 90 days. 0.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Brown Lisle Cummings Inc. acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at $30,000. Mascagni Wealth Management Inc. purchased a new position in Vertex Pharmaceuticals in the fourth quarter valued at $31,000. Sugar Maple Asset Management LLC acquired a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth about $35,000. Golden State Wealth Management LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth about $37,000. Finally, Truvestments Capital LLC grew its position in shares of Vertex Pharmaceuticals by 30.3% during the 4th quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company’s stock valued at $40,000 after acquiring an additional 23 shares during the period. 90.96% of the stock is 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.