Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target Increased to $450.00 by Analysts at Guggenheim

Vertex Pharmaceuticals (NASDAQ:VRTX) had its target price increased by Guggenheim from $445.00 to $450.00 in a research report released on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the pharmaceutical company’s stock.

Other analysts have also recently issued reports about the stock. Wells Fargo & Company boosted their target price on shares of Vertex Pharmaceuticals from $500.00 to $540.00 and gave the stock an overweight rating in a research report on Tuesday, February 6th. Barclays raised their target price on Vertex Pharmaceuticals from $446.00 to $472.00 and gave the company an overweight rating in a report on Tuesday, February 6th. Wolfe Research started coverage on Vertex Pharmaceuticals in a research note on Thursday, February 15th. They set an outperform rating and a $515.00 price target for the company. Sanford C. Bernstein downgraded Vertex Pharmaceuticals from an outperform rating to a market perform rating in a research note on Friday, February 2nd. Finally, HC Wainwright upped their target price on Vertex Pharmaceuticals from $457.00 to $462.00 and gave the stock a buy rating in a research report on Thursday, April 11th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $429.45.

Vertex Pharmaceuticals Price Performance

Shares of VRTX opened at $393.48 on Thursday. The business’s 50-day moving average is $414.17 and its 200-day moving average is $396.74. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.99 and a quick ratio of 3.78. The company has a market capitalization of $101.70 billion, a price-to-earnings ratio of 28.33, a P/E/G ratio of 1.85 and a beta of 0.35. Vertex Pharmaceuticals has a fifty-two week low of $316.43 and a fifty-two week high of $448.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued 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. Vertex Pharmaceuticals had a net margin of 36.68% and a return on equity of 21.91%. The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter last year, the business posted $3.33 EPS. Equities research analysts expect that Vertex Pharmaceuticals will post 14.95 EPS for the current fiscal year.

Insider Activity

In other Vertex Pharmaceuticals news, COO Stuart A. Arbuckle sold 4,295 shares of Vertex Pharmaceuticals stock in a transaction on Monday, February 12th. The shares were sold at an average price of $420.24, for a total transaction of $1,804,930.80. Following the sale, the chief operating officer now owns 75,718 shares in the company, valued at $31,819,732.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Ourania Tatsis sold 480 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $420.79, for a total value of $201,979.20. Following the completion of the transaction, the executive vice president now directly owns 59,827 shares of the company’s stock, valued at approximately $25,174,603.33. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Stuart A. Arbuckle sold 4,295 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $420.24, for a total value of $1,804,930.80. Following the completion of the sale, the chief operating officer now directly owns 75,718 shares in the company, valued at approximately $31,819,732.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,381 shares of company stock worth $5,203,249. Company insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the company. Venturi Wealth Management LLC grew its stake in Vertex Pharmaceuticals by 1.1% during the fourth quarter. Venturi Wealth Management LLC now owns 2,293 shares of the pharmaceutical company’s stock worth $933,000 after buying an additional 24 shares during the last quarter. Nicholas Hoffman & Company LLC. increased its holdings in Vertex Pharmaceuticals by 3.9% during the 4th quarter. Nicholas Hoffman & Company LLC. now owns 636 shares of the pharmaceutical company’s stock valued at $259,000 after purchasing an additional 24 shares in the last quarter. Hohimer Wealth Management LLC increased its holdings in Vertex Pharmaceuticals by 0.8% during the 4th quarter. Hohimer Wealth Management LLC now owns 2,932 shares of the pharmaceutical company’s stock valued at $1,193,000 after purchasing an additional 24 shares in the last quarter. Johnson Financial Group Inc. raised its position in Vertex Pharmaceuticals by 2.5% in the 4th quarter. Johnson Financial Group Inc. now owns 1,001 shares of the pharmaceutical company’s stock valued at $407,000 after purchasing an additional 24 shares during the last quarter. Finally, Arthur M. Cohen & Associates LLC boosted its stake in Vertex Pharmaceuticals by 3.2% in the fourth quarter. Arthur M. Cohen & Associates LLC now owns 800 shares of the pharmaceutical company’s stock worth $326,000 after purchasing an additional 25 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

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.