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

Vertex Pharmaceuticals (NASDAQ:VRTX) had its target price boosted by stock analysts at Bank of America from $555.00 to $567.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the pharmaceutical company’s stock. Bank of America‘s target price would suggest a potential upside of 16.97% from the company’s previous close.

A number of other research firms have also weighed in on VRTX. Barclays increased their price target on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 11th. Scotiabank raised their target price on shares of Vertex Pharmaceuticals from $433.00 to $450.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. Truist Financial lifted their target price on shares of Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Morgan Stanley upped their price target on shares of Vertex Pharmaceuticals from $450.00 to $459.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 11th. Finally, Wells Fargo & Company cut shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 price objective on the stock. in a research report on Thursday, January 30th. Ten analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $509.17.

Vertex Pharmaceuticals Price Performance

Shares of Vertex Pharmaceuticals stock opened at $484.74 on Monday. Vertex Pharmaceuticals has a 52 week low of $377.85 and a 52 week high of $519.88. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01. The company’s 50-day moving average price is $478.85 and its two-hundred day moving average price is $463.67. The stock has a market cap of $124.48 billion, a PE ratio of -220.34, a price-to-earnings-growth ratio of 2.11 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its 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 net margin of 4.86% and a negative return on equity of 2.02%. As a group, sell-side analysts anticipate that Vertex Pharmaceuticals will post 15.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 244 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total transaction of $111,034.64. Following the completion of the transaction, the executive vice president now owns 67,695 shares of the company’s stock, valued at $30,805,286.70. The trade was a 0.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David Altshuler sold 3,231 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 26,512 shares of the company’s stock, valued at $13,256,000. This trade represents a 10.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,315 shares of company stock valued at $2,121,012 over the last three months. 0.20% of the stock is currently owned by insiders.

Institutional Trading of Vertex Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in VRTX. MassMutual Private Wealth & Trust FSB boosted its position in shares of Vertex Pharmaceuticals by 172.6% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 17,016 shares of the pharmaceutical company’s stock valued at $8,250,000 after acquiring an additional 10,774 shares during the period. Mascagni Wealth Management Inc. acquired a new stake in Vertex Pharmaceuticals in the 4th quarter worth $31,000. DSG Capital Advisors LLC bought a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth about $1,460,000. 111 Capital acquired a new position in shares of Vertex Pharmaceuticals during the fourth quarter valued at about $1,331,000. Finally, Lansforsakringar Fondforvaltning AB publ bought a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at about $58,274,000. Institutional investors 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.