Vertex Pharmaceuticals' (VRTX) Overweight Rating Reaffirmed at Cantor Fitzgerald

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report)'s stock had its "overweight" rating reaffirmed by Cantor Fitzgerald in a report issued on Tuesday,Benzinga reports. They presently have a $535.00 price target on the pharmaceutical company's stock. Cantor Fitzgerald's price objective would suggest a potential upside of 12.04% from the company's current price.

A number of other brokerages have also weighed in on VRTX. Royal Bank of Canada upped their price target on shares of Vertex Pharmaceuticals from $408.00 to $420.00 and gave the company a "sector perform" rating in a report on Tuesday, April 1st. Needham & Company LLC reiterated a "hold" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. BMO Capital Markets set a $545.00 price target on Vertex Pharmaceuticals in a report on Friday, January 31st. Bank of America upped their price objective on Vertex Pharmaceuticals from $555.00 to $567.00 and gave the stock a "buy" rating in a research report on Monday, March 31st. Finally, JPMorgan Chase & Co. cut their target price on Vertex Pharmaceuticals from $503.00 to $500.00 and set an "overweight" rating on the stock in a research note on Monday, December 23rd. Ten investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $514.91.

Vertex Pharmaceuticals Price Performance

VRTX opened at $477.52 on Tuesday. The company has a fifty day simple moving average of $487.25 and a 200 day simple moving average of $465.46. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01. The stock has a market cap of $122.62 billion, a P/E ratio of -217.05, a P/E/G ratio of 2.11 and a beta of 0.50. Vertex Pharmaceuticals has a 12 month low of $377.85 and a 12 month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 EPS for the quarter, missing analysts' consensus estimates 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%. On average, research analysts expect that Vertex Pharmaceuticals will post 15.63 EPS for the current year.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, EVP David Altshuler sold 3,231 shares of Vertex Pharmaceuticals stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 26,512 shares of the company's stock, valued at $13,256,000. The trade was a 10.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ourania Tatsis sold 530 shares of the company's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $475.34, for a total transaction of $251,930.20. Following the completion of the transaction, the executive vice president now owns 58,539 shares in the company, valued at approximately $27,825,928.26. This represents a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,315 shares of company stock valued at $2,121,012. 0.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Several hedge funds have recently bought and sold shares of the stock. Brown Lisle Cummings Inc. acquired a new stake in Vertex Pharmaceuticals during the 4th quarter worth approximately $30,000. Mascagni Wealth Management Inc. bought a new position in Vertex Pharmaceuticals during the 4th quarter worth $31,000. Sugar Maple Asset Management LLC acquired a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth $35,000. Golden State Wealth Management LLC bought a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at about $37,000. Finally, SJS Investment Consulting Inc. grew its stake in shares of Vertex Pharmaceuticals by 46.2% in the first quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock valued at $46,000 after acquiring an additional 30 shares in 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.

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