JPMorgan Chase & Co. Has Lowered Expectations for Vertex Pharmaceuticals (NASDAQ:VRTX) Stock Price

Vertex Pharmaceuticals (NASDAQ:VRTX - Free Report) had its price objective lowered by JPMorgan Chase & Co. from $510.00 to $503.00 in a report released on Tuesday, Benzinga reports. The firm currently has an overweight rating on the pharmaceutical company's stock.

Several other equities analysts have also issued reports on VRTX. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $480.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, October 8th. Piper Sandler upped their target price on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an "overweight" rating in a research note on Friday, August 2nd. HC Wainwright reissued a "buy" rating and set a $600.00 price target on shares of Vertex Pharmaceuticals in a research report on Monday, October 21st. StockNews.com lowered shares of Vertex Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Monday, August 5th. Finally, UBS Group boosted their price target on Vertex Pharmaceuticals from $477.00 to $562.00 and gave the stock a "buy" rating in a research note on Thursday, October 17th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of "Hold" and a consensus price target of $494.38.

Vertex Pharmaceuticals Stock Up 5.7 %

NASDAQ VRTX traded up $27.08 during trading hours on Tuesday, reaching $499.88. 1,683,652 shares of the company's stock traded hands, compared to its average volume of 1,169,690. The firm has a market cap of $129.02 billion, a PE ratio of -245.10 and a beta of 0.39. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.52 and a quick ratio of 2.26. Vertex Pharmaceuticals has a 52-week low of $341.90 and a 52-week high of $510.64. The firm has a 50-day simple moving average of $474.34 and a 200 day simple moving average of $466.02.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.61 by $0.77. The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.69 billion. Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The business's revenue was up 11.6% on a year-over-year basis. During the same period last year, the business earned $3.67 earnings per share. Sell-side analysts anticipate that Vertex Pharmaceuticals will post -2.04 EPS for the current fiscal year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, Chairman Jeffrey M. Leiden sold 3,784 shares of the firm's stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the transaction, the chairman now directly owns 9,994 shares of the company's stock, valued at approximately $4,987,006. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of Vertex Pharmaceuticals stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $499.00, for a total value of $1,888,216.00. Following the completion of the sale, the chairman now directly owns 9,994 shares in the company, valued at $4,987,006. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CMO Carmen Bozic sold 2,280 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $476.75, for a total transaction of $1,086,990.00. Following the transaction, the chief marketing officer now owns 23,259 shares in the company, valued at approximately $11,088,728.25. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,710 shares of company stock valued at $3,298,206 in the last three months. Company insiders own 0.20% of the company's stock.

Institutional Trading of Vertex Pharmaceuticals

Institutional investors have recently made changes to their positions in the business. Northwest Investment Counselors LLC purchased a new stake in Vertex Pharmaceuticals in the third quarter valued at about $25,000. Highline Wealth Partners LLC purchased a new position in shares of Vertex Pharmaceuticals in the third quarter worth about $27,000. GHP Investment Advisors Inc. acquired a new position in shares of Vertex Pharmaceuticals in the 2nd quarter valued at $29,000. Stephens Consulting LLC purchased a new position in Vertex Pharmaceuticals during the second quarter valued at $31,000. Finally, Founders Capital Management lifted its stake in Vertex Pharmaceuticals by 50.0% in the 2nd quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company's stock valued at $35,000 after buying an additional 25 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company's stock.

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.