Vertex Pharmaceuticals (NASDAQ:VRTX) Shares Up 1.8% - Time to Buy?

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Get Free Report)'s share price traded up 1.8% during mid-day trading on Friday . The stock traded as high as $494.41 and last traded at $492.56. 168,654 shares traded hands during trading, a decline of 87% from the average session volume of 1,283,260 shares. The stock had previously closed at $484.01.

Analyst Upgrades and Downgrades

VRTX has been the topic of several research reports. Barclays upped their price objective on shares of Vertex Pharmaceuticals from $435.00 to $467.00 and gave the company an "equal weight" rating in a report on Tuesday, February 11th. Canaccord Genuity Group raised shares of Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and increased their price target for the company from $408.00 to $424.00 in a report on Tuesday, February 11th. JPMorgan Chase & Co. reduced their price objective 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 set a $545.00 target price on Vertex Pharmaceuticals in a research note on Friday, January 31st. Finally, Royal Bank of Canada boosted their price target on Vertex Pharmaceuticals from $408.00 to $420.00 and gave the company a "sector perform" rating in a research note on Tuesday, April 1st. Ten research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $509.17.

Vertex Pharmaceuticals Stock Performance

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 stock has a market cap of $123.85 billion, a P/E ratio of -219.23, a PEG ratio of 2.11 and a beta of 0.50. The stock has a 50-day simple moving average of $483.41 and a 200-day simple moving average of $463.75.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (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%. Research analysts forecast that Vertex Pharmaceuticals Incorporated 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 Vertex Pharmaceuticals stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the sale, the executive vice president now directly owns 26,512 shares of the company's stock, 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 document filed with the SEC, which can be accessed through the SEC website. Also, EVP Ourania Tatsis sold 310 shares of the company's 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 completion of the transaction, the executive vice president now directly owns 64,021 shares of the company's stock, valued at $29,438,776.43. This represents a 0.48 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,315 shares of company stock worth $2,121,012. Corporate insiders own 0.20% of the company's stock.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. ABC Arbitrage SA acquired a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth $1,510,000. Czech National Bank raised its position in Vertex Pharmaceuticals by 6.2% during the 4th quarter. Czech National Bank now owns 55,838 shares of the pharmaceutical company's stock worth $22,486,000 after purchasing an additional 3,260 shares during the last quarter. Highview Capital Management LLC DE raised its position in Vertex Pharmaceuticals by 1.8% during the 4th quarter. Highview Capital Management LLC DE now owns 5,771 shares of the pharmaceutical company's stock worth $2,324,000 after purchasing an additional 102 shares during the last quarter. Davidson Investment Advisors lifted its holdings in Vertex Pharmaceuticals by 26.0% during the 4th quarter. Davidson Investment Advisors now owns 61,161 shares of the pharmaceutical company's stock worth $24,630,000 after buying an additional 12,631 shares during the period. Finally, Jones Financial Companies Lllp grew its position in shares of Vertex Pharmaceuticals by 75.5% in the 4th quarter. Jones Financial Companies Lllp now owns 2,468 shares of the pharmaceutical company's stock valued at $994,000 after buying an additional 1,062 shares during the last quarter. 90.96% of the stock is currently 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.