Brokerages Set Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Price Target at $506.70

Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the twenty-six research firms that are covering the company, Marketbeat.com reports. Ten analysts have rated the stock with a hold recommendation, fifteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $506.70.

VRTX has been the topic of several recent research reports. Royal Bank of Canada upped their price objective on shares of Vertex Pharmaceuticals from $407.00 to $408.00 and gave the company a "sector perform" rating in a report on Thursday, February 20th. StockNews.com upgraded shares of Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Tuesday, March 11th. Oppenheimer cut shares of Vertex Pharmaceuticals from an "outperform" rating to a "market perform" rating in a research report on Thursday, December 19th. William Blair reissued an "outperform" rating on shares of Vertex Pharmaceuticals in a report on Friday, January 31st. Finally, Truist Financial increased their target price on shares of Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th.

Remove Ads

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX traded down $2.58 during trading hours on Monday, hitting $509.94. 565,099 shares of the company were exchanged, compared to its average volume of 1,211,241. The stock has a market capitalization of $130.95 billion, a price-to-earnings ratio of -231.89, a PEG ratio of 2.11 and a beta of 0.41. Vertex Pharmaceuticals has a 52-week low of $377.85 and a 52-week high of $519.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35. The company's 50 day moving average price is $464.06 and its 200-day moving average price is $462.31.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 EPS for the quarter, missing the consensus estimate of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. As a group, research analysts forecast that Vertex Pharmaceuticals will post 15.63 earnings per share for the current year.

Insider Transactions at Vertex Pharmaceuticals

In other news, EVP David Altshuler sold 3,231 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the transaction, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Ourania Tatsis sold 244 shares of Vertex Pharmaceuticals stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total transaction of $111,034.64. Following the completion of the transaction, the executive vice president now owns 67,695 shares in the company, valued at approximately $30,805,286.70. This trade represents a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,315 shares of company stock worth $2,121,012. Insiders own 0.20% of the company's stock.

Hedge Funds Weigh In On Vertex Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of VRTX. Dunhill Financial LLC grew its position in Vertex Pharmaceuticals by 70.6% in the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company's stock valued at $27,000 after buying an additional 24 shares during the last quarter. Brown Lisle Cummings Inc. purchased a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth $30,000. Legacy Investment Solutions LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter worth $33,000. Truvestments Capital LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter worth $35,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth $35,000. 90.96% of the stock is currently owned by hedge funds and other 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.