Vertex Pharmaceuticals (NASDAQ:VRTX) Given “Overweight” Rating at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Vertex Pharmaceuticals (NASDAQ:VRTX) in a report released on Tuesday morning, Marketbeat Ratings reports. They currently have a $535.00 price objective on the pharmaceutical company’s stock.

Several other equities research analysts have also weighed in on VRTX. Morgan Stanley raised their price objective on Vertex Pharmaceuticals from $450.00 to $459.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 11th. Scotiabank lifted their price target on Vertex Pharmaceuticals from $433.00 to $450.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. JPMorgan Chase & Co. cut their price objective on Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. Truist Financial raised their target price on shares of Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Finally, BMO Capital Markets set a $545.00 price target on shares of Vertex Pharmaceuticals in a research report on Friday, January 31st. Ten investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $514.91.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $490.47 on Tuesday. The stock has a market cap of $125.95 billion, a P/E ratio of -222.94, a P/E/G ratio of 2.11 and a beta of 0.50. The firm’s 50-day simple moving average is $487.81 and its 200 day simple moving average is $465.64. Vertex Pharmaceuticals has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Equities analysts expect that Vertex Pharmaceuticals will post 15.63 EPS for the current year.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 244 shares of the business’s stock in a transaction that occurred 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 directly owns 67,695 shares in the company, valued at $30,805,286.70. The trade was a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP David Altshuler sold 3,231 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $500.00, for a total value of $1,615,500.00. Following the transaction, the executive vice president now directly owns 26,512 shares of the company’s stock, valued at $13,256,000. This trade represents a 10.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,315 shares of company stock worth $2,121,012 in the last quarter. Corporate insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in VRTX. Advisory Resource Group increased its holdings in Vertex Pharmaceuticals by 3.2% in the third quarter. Advisory Resource Group now owns 1,970 shares of the pharmaceutical company’s stock valued at $916,000 after purchasing an additional 61 shares during the period. Anchor Investment Management LLC increased its stake in shares of Vertex Pharmaceuticals by 1,352.3% in the third quarter. Anchor Investment Management LLC now owns 1,583 shares of the pharmaceutical company’s stock valued at $736,000 after buying an additional 1,474 shares during the period. World Investment Advisors LLC bought a new position in shares of Vertex Pharmaceuticals during the third quarter worth about $24,280,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Vertex Pharmaceuticals in the third quarter worth approximately $2,187,000. Finally, Destination Wealth Management boosted its holdings in Vertex Pharmaceuticals by 4.5% in the third quarter. Destination Wealth Management now owns 3,361 shares of the pharmaceutical company’s stock valued at $1,563,000 after acquiring an additional 144 shares during the last quarter. Institutional investors own 90.96% of the company’s stock.

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.