Barclays Increases Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target to $467.00

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price target lifted by research analysts at Barclays from $435.00 to $467.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the pharmaceutical company’s stock. Barclays‘s price objective would suggest a potential upside of 3.05% from the company’s current price.

Several other brokerages have also recently issued reports on VRTX. Piper Sandler lowered their price objective on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. Royal Bank of Canada boosted their price objective on shares of Vertex Pharmaceuticals from $437.00 to $451.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 5th. Canaccord Genuity Group boosted their price objective on shares of Vertex Pharmaceuticals from $361.00 to $408.00 and gave the stock a “sell” rating in a report on Wednesday, November 6th. Bank of America cut their target price on shares of Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Finally, Citigroup began coverage on shares of Vertex Pharmaceuticals in a research note on Thursday, November 14th. They issued a “buy” rating and a $575.00 target price on the stock. Ten investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $505.96.

Vertex Pharmaceuticals Trading Down 0.4 %

Shares of VRTX opened at $453.20 on Tuesday. The firm has a 50 day simple moving average of $435.91 and a 200-day simple moving average of $461.85. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20. The stock has a market cap of $116.71 billion, a price-to-earnings ratio of -227.74, a price-to-earnings-growth ratio of 1.80 and a beta of 0.41. Vertex Pharmaceuticals has a 1-year low of $377.85 and a 1-year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 EPS for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. Equities analysts forecast that Vertex Pharmaceuticals will post -1.94 EPS for the current fiscal year.

Insider Activity

In other news, EVP Ourania Tatsis sold 310 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $459.83, for a total value of $142,547.30. Following the completion of the transaction, the executive vice president now directly owns 64,021 shares in the company, valued at $29,438,776.43. This trade represents a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.20% of the company’s stock.

Institutional Trading of Vertex Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Northwest Investment Counselors LLC acquired a new stake in Vertex Pharmaceuticals during the third quarter valued at approximately $25,000. Highline Wealth Partners LLC purchased a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter valued at approximately $27,000. Dunhill Financial LLC lifted its position in Vertex Pharmaceuticals by 70.6% in the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after buying an additional 24 shares in the last quarter. Brown Lisle Cummings Inc. purchased a new stake in Vertex Pharmaceuticals in the 4th quarter worth approximately $30,000. Finally, Legacy Investment Solutions LLC purchased a new stake in Vertex Pharmaceuticals in the 3rd quarter worth approximately $33,000. 90.96% of the stock is 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.