Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target Raised to $550.00 at Argus

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price objective upped by Argus from $465.00 to $550.00 in a report issued on Monday morning, Benzinga reports. They currently have a buy rating on the pharmaceutical company’s stock.

Other equities research analysts also recently issued reports about the stock. HC Wainwright reaffirmed a buy rating and issued a $462.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 7th. BMO Capital Markets increased their price target on Vertex Pharmaceuticals from $480.00 to $500.00 and gave the company an outperform rating in a research report on Friday, May 31st. Piper Sandler boosted their price objective on Vertex Pharmaceuticals from $450.00 to $456.00 and gave the stock an overweight rating in a research report on Tuesday, May 7th. UBS Group reduced their price objective on Vertex Pharmaceuticals from $498.00 to $466.00 and set a buy rating for the company in a research note on Wednesday, April 17th. Finally, Oppenheimer reiterated an outperform rating and set a $500.00 target price on shares of Vertex Pharmaceuticals in a research note on Monday, April 15th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Vertex Pharmaceuticals currently has an average rating of Moderate Buy and a consensus target price of $443.55.

Vertex Pharmaceuticals Stock Down 1.5 %

VRTX stock opened at $473.69 on Monday. The firm has a market capitalization of $122.24 billion, a PE ratio of 30.74, a P/E/G ratio of 2.47 and a beta of 0.41. The company has a quick ratio of 3.29, a current ratio of 3.50 and a debt-to-equity ratio of 0.02. Vertex Pharmaceuticals has a twelve month low of $335.82 and a twelve month high of $486.42. The stock’s 50 day moving average is $431.54 and its 200-day moving average is $419.71.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share for the quarter, beating the consensus estimate of $3.66 by $1.10. Vertex Pharmaceuticals had a return on equity of 23.08% and a net margin of 39.46%. The business had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $2.58 billion. During the same period last year, the business earned $2.67 EPS. The business’s revenue was up 13.3% on a year-over-year basis. Sell-side analysts expect that Vertex Pharmaceuticals will post 15.22 EPS for the current fiscal year.

Insider Activity

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 7,073 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $448.00, for a total value of $3,168,704.00. Following the sale, the director now directly owns 40,000 shares in the company, valued at approximately $17,920,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Bruce I. Sachs sold 7,073 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $448.00, for a total value of $3,168,704.00. Following the transaction, the director now owns 40,000 shares in the company, valued at $17,920,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Reshma Kewalramani sold 1,565 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $457.00, for a total transaction of $715,205.00. Following the sale, the chief executive officer now owns 121,374 shares of the company’s stock, valued at $55,467,918. The disclosure for this sale can be found here. Insiders have sold a total of 26,086 shares of company stock worth $11,983,266 over the last ninety days. Company insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. University of Texas Texas AM Investment Managment Co. bought a new position in Vertex Pharmaceuticals in the 4th quarter worth $25,000. Arlington Trust Co LLC increased its position in shares of Vertex Pharmaceuticals by 97.1% during the fourth quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock valued at $27,000 after buying an additional 33 shares during the period. Annapolis Financial Services LLC bought a new position in Vertex Pharmaceuticals in the first quarter worth about $27,000. ICA Group Wealth Management LLC purchased a new stake in Vertex Pharmaceuticals in the fourth quarter worth about $28,000. Finally, Fortitude Family Office LLC bought a new stake in Vertex Pharmaceuticals during the 4th quarter valued at approximately $30,000. Hedge funds and other 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.