Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Receives Consensus Rating of "Moderate Buy" from Brokerages

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Get Free Report) has earned an average rating of "Moderate Buy" from the twenty-six research firms that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and sixteen have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $486.36.

VRTX has been the subject of a number of research reports. Argus boosted their target price on shares of Vertex Pharmaceuticals from $465.00 to $550.00 and gave the stock a "buy" rating in a research note on Monday, June 17th. Truist Financial reaffirmed a "buy" rating and issued a $550.00 price target (up from $508.00) on shares of Vertex Pharmaceuticals in a research note on Monday, August 5th. HC Wainwright upped their target price on shares of Vertex Pharmaceuticals from $500.00 to $600.00 and gave the stock a "buy" rating in a report on Monday, August 5th. StockNews.com downgraded shares of Vertex Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Monday, August 5th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $480.00 price objective on shares of Vertex Pharmaceuticals in a report on Friday, August 2nd.

Insider Activity at Vertex Pharmaceuticals

In related news, CMO Carmen Bozic sold 2,280 shares of the stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $471.72, for a total value of $1,075,521.60. Following the transaction, the chief marketing officer now directly owns 30,099 shares of the company's stock, valued at approximately $14,198,300.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 5,295 shares of the business's stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $508.00, for a total value of $2,689,860.00. Following the transaction, the director now directly owns 40,000 shares of the company's stock, valued at approximately $20,320,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Carmen Bozic sold 2,280 shares of the company's stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $471.72, for a total transaction of $1,075,521.60. Following the transaction, the chief marketing officer now directly owns 30,099 shares in the company, valued at $14,198,300.28. The disclosure for this sale can be found here. Insiders sold 34,047 shares of company stock worth $16,843,806 in the last three months. 0.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Vertex Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at about $25,000. Annapolis Financial Services LLC purchased a new position in shares of Vertex Pharmaceuticals during the first quarter valued at approximately $27,000. ICA Group Wealth Management LLC purchased a new stake in Vertex Pharmaceuticals in the 4th quarter worth approximately $28,000. GHP Investment Advisors Inc. acquired a new position in Vertex Pharmaceuticals in the 2nd quarter valued at $29,000. Finally, Stephens Consulting LLC purchased a new position in shares of Vertex Pharmaceuticals during the 2nd quarter worth $31,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Stock Down 0.8 %

VRTX stock traded down $3.79 during trading on Monday, hitting $461.13. 296,164 shares of the company's stock traded hands, compared to its average volume of 1,188,514. Vertex Pharmaceuticals has a 1 year low of $341.85 and a 1 year high of $510.64. The business has a fifty day simple moving average of $482.66 and a two-hundred day simple moving average of $452.40. The firm has a market capitalization of $119.00 billion, a P/E ratio of 29.96 and a beta of 0.40. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 0.02.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing the consensus estimate of ($12.54) by ($0.29). The business had revenue of $2.65 billion during the quarter, compared to analysts' expectations of $2.66 billion. Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. Vertex Pharmaceuticals's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.53 earnings per share. Sell-side analysts anticipate that Vertex Pharmaceuticals will post -2.14 EPS for the current year.

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.