Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Receives $492.92 Average PT from Analysts

Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) have been given an average recommendation of “Hold” by the twenty-nine analysts that are currently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and seventeen have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $492.92.

Several equities analysts have commented on VRTX shares. Cantor Fitzgerald restated an “overweight” rating and issued a $480.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, October 8th. Morgan Stanley boosted their price target on shares of Vertex Pharmaceuticals from $462.00 to $474.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 1st. Piper Sandler boosted their price target on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Truist Financial restated a “buy” rating and issued a $550.00 price target (up previously from $508.00) on shares of Vertex Pharmaceuticals in a research note on Monday, August 5th. Finally, Guggenheim boosted their price target on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd.

Vertex Pharmaceuticals Stock Up 0.4 %

Vertex Pharmaceuticals stock opened at $471.91 on Friday. Vertex Pharmaceuticals has a fifty-two week low of $341.90 and a fifty-two week high of $510.64. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.26 and a current ratio of 2.52. The firm has a 50 day moving average price of $475.60 and a 200 day moving average price of $461.29. The company has a market capitalization of $121.80 billion, a PE ratio of -232.47 and a beta of 0.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share for the quarter, missing the consensus estimate of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same quarter last year, the business posted $3.53 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. Research analysts expect that Vertex Pharmaceuticals will post -2.11 earnings per share for the current year.

Insider Activity

In other news, Director Bruce I. Sachs sold 5,295 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the transaction, the director now directly owns 40,000 shares in the company, valued at $20,320,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Bruce I. Sachs sold 5,295 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the transaction, the director now directly owns 40,000 shares in the company, valued at $20,320,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Sangeeta N. Bhatia sold 646 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $500.00, for a total transaction of $323,000.00. Following the transaction, the director now owns 4,435 shares in the company, valued at approximately $2,217,500. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,005 shares of company stock valued at $5,988,066. Insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in VRTX. Northwest Investment Counselors LLC acquired a new position in Vertex Pharmaceuticals during the third quarter worth about $25,000. Annapolis Financial Services LLC acquired a new position in Vertex Pharmaceuticals during the first quarter worth about $27,000. GHP Investment Advisors Inc. acquired a new position in Vertex Pharmaceuticals during the second quarter worth about $29,000. Stephens Consulting LLC acquired a new position in Vertex Pharmaceuticals during the second quarter worth about $31,000. Finally, Founders Capital Management grew its position in Vertex Pharmaceuticals by 50.0% during the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock worth $35,000 after buying an additional 25 shares during the period. 90.96% of the stock is currently owned by institutional investors and hedge funds.

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.