Vertex Pharmaceuticals (NASDAQ:VRTX) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Vertex Pharmaceuticals (NASDAQ:VRTX - Free Report) had its price objective boosted by Royal Bank of Canada from $407.00 to $408.00 in a report issued on Thursday morning,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the pharmaceutical company's stock.

Other equities research analysts also recently issued reports about the company. JPMorgan Chase & Co. lowered their price target on Vertex Pharmaceuticals from $503.00 to $500.00 and set an "overweight" rating for the company in a report on Monday, December 23rd. BMO Capital Markets dropped their target price on shares of Vertex Pharmaceuticals from $566.00 to $520.00 and set an "outperform" rating on the stock in a report on Friday, December 20th. Morgan Stanley lifted their price target on shares of Vertex Pharmaceuticals from $450.00 to $459.00 and gave the company an "equal weight" rating in a report on Tuesday, February 11th. Truist Financial increased their price objective 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. Finally, UBS Group lifted their target price on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Eleven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $505.61.

Vertex Pharmaceuticals Stock Up 0.8 %

NASDAQ VRTX traded up $3.91 during trading hours on Thursday, reaching $484.24. 1,444,007 shares of the company traded hands, compared to its average volume of 1,541,286. The stock has a market capitalization of $124.35 billion, a PE ratio of -220.11, a PEG ratio of 2.07 and a beta of 0.41. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals has a 12 month low of $377.85 and a 12 month high of $519.88. The company has a 50 day moving average of $436.05 and a two-hundred day moving average of $460.70.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings results 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 return on equity of 2.02% and a negative net margin of 4.86%. As a group, equities analysts expect that Vertex Pharmaceuticals will post 15.58 earnings per share for the current year.

Insider Activity

In other news, EVP Ourania Tatsis sold 310 shares of Vertex Pharmaceuticals stock in a transaction that occurred 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 transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.20% of the stock is owned by insiders.

Institutional Trading of Vertex Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the business. Dunhill Financial LLC boosted its stake in shares of Vertex Pharmaceuticals by 70.6% during the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company's stock worth $27,000 after acquiring an additional 24 shares in the last quarter. Highline Wealth Partners LLC purchased a new stake in shares of Vertex Pharmaceuticals during the third quarter valued at $27,000. Legacy Investment Solutions LLC acquired a new position in shares of Vertex Pharmaceuticals in the 3rd quarter valued at $33,000. Brown Lisle Cummings Inc. purchased a new position in Vertex Pharmaceuticals in the 4th quarter worth about $30,000. Finally, Truvestments Capital LLC acquired a new stake in Vertex Pharmaceuticals during the 3rd quarter worth about $35,000. 90.96% of the stock is currently owned by 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.