Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) had its price target lifted by stock analysts at Wells Fargo & Company from $500.00 to $540.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the pharmaceutical company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 28.85% from the stock’s current price.
VRTX has been the topic of a number of other research reports. Evercore ISI lowered shares of Vertex Pharmaceuticals from an “outperform” rating to an “in-line” rating and boosted their price target for the company from $436.00 to $438.00 in a report on Tuesday. BMO Capital Markets upped their target price on shares of Vertex Pharmaceuticals from $389.00 to $415.00 and gave the company an “outperform” rating in a research note on Tuesday, November 7th. JPMorgan Chase & Co. increased their price objective on shares of Vertex Pharmaceuticals from $390.00 to $438.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Barclays raised their price objective on shares of Vertex Pharmaceuticals from $446.00 to $472.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Maxim Group cut shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $403.79.
Vertex Pharmaceuticals Stock Performance
Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last posted its earnings results on Monday, February 5th. The pharmaceutical company reported $4.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.85 by $0.35. The firm had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.50 billion. Vertex Pharmaceuticals had a net margin of 36.68% and a return on equity of 22.65%. During the same period in the previous year, the business posted $3.33 EPS. As a group, equities research analysts expect that Vertex Pharmaceuticals will post 15.18 earnings per share for the current fiscal year.
Insider Transactions at Vertex Pharmaceuticals
In other news, Chairman Jeffrey M. Leiden sold 6,648 shares of the firm’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $419.07, for a total transaction of $2,785,977.36. Following the completion of the sale, the chairman now owns 2,423 shares of the company’s stock, valued at approximately $1,015,406.61. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.30% of the company’s stock.
Institutional Investors Weigh In On Vertex Pharmaceuticals
A number of hedge funds have recently made changes to their positions in VRTX. Partnership Wealth Management LLC purchased a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth about $1,025,000. Avantax Advisory Services Inc. raised its holdings in shares of Vertex Pharmaceuticals by 11.7% during the fourth quarter. Avantax Advisory Services Inc. now owns 5,530 shares of the pharmaceutical company’s stock valued at $2,250,000 after acquiring an additional 580 shares in the last quarter. Ieq Capital LLC grew its stake in Vertex Pharmaceuticals by 2.9% in the fourth quarter. Ieq Capital LLC now owns 17,983 shares of the pharmaceutical company’s stock worth $7,317,000 after purchasing an additional 500 shares during the period. Principal Financial Group Inc. grew its stake in Vertex Pharmaceuticals by 12.2% in the fourth quarter. Principal Financial Group Inc. now owns 368,728 shares of the pharmaceutical company’s stock worth $150,032,000 after purchasing an additional 40,005 shares during the period. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Vertex Pharmaceuticals by 2.0% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 31,917 shares of the pharmaceutical company’s stock valued at $12,987,000 after purchasing an additional 613 shares in the last quarter. 90.77% 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 and SYMDEKO/SYMKEVI for people with CF with at least one F508del mutation for 6 years of age or older; ORKAMBI for CF homozygous F508del mutation for CF patients 2 year or older; and KALYDECO for the treatment of patients with 4 months or older who have CF with a mutation that is responsive to ivacaftor, and R117H mutation or one of certain gating mutations.
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