Needham & Company LLC Reaffirms “Hold” Rating for Vertex Pharmaceuticals (NASDAQ:VRTX)

Vertex Pharmaceuticals (NASDAQ:VRTX)‘s stock had its “hold” rating reissued by equities research analysts at Needham & Company LLC in a report issued on Tuesday,Benzinga reports.

A number of other brokerages have also recently weighed in on VRTX. HC Wainwright restated a “buy” rating and issued a $550.00 price objective on shares of Vertex Pharmaceuticals in a report on Tuesday. Citigroup started coverage on shares of Vertex Pharmaceuticals in a research report on Thursday, November 14th. They issued a “buy” rating and a $575.00 price target on the stock. Stifel Nicolaus raised their target price on shares of Vertex Pharmaceuticals from $490.00 to $494.00 and gave the company a “hold” rating in a research note on Monday, December 16th. Barclays cut their target price on shares of Vertex Pharmaceuticals from $509.00 to $418.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $480.00 price objective on shares of Vertex Pharmaceuticals in a research note on Friday, January 31st. Ten research 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $505.96.

Vertex Pharmaceuticals Stock Down 0.4 %

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

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data 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 4.52% and a negative return on equity of 1.91%. Equities research analysts expect that Vertex Pharmaceuticals will post -1.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 310 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $459.83, for a total transaction of $142,547.30. Following the sale, the executive vice president now owns 64,021 shares of the company’s stock, valued at approximately $29,438,776.43. The trade was a 0.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is currently owned by company insiders.

Institutional Trading of Vertex Pharmaceuticals

Several large investors have recently bought and sold shares of the stock. Mutual Advisors LLC lifted its stake in shares of Vertex Pharmaceuticals by 0.6% in the 3rd quarter. Mutual Advisors LLC now owns 3,710 shares of the pharmaceutical company’s stock valued at $1,751,000 after purchasing an additional 21 shares during the period. Grove Bank & Trust raised its position in shares of Vertex Pharmaceuticals by 5.7% in the third quarter. Grove Bank & Trust now owns 410 shares of the pharmaceutical company’s stock valued at $191,000 after buying an additional 22 shares during the last quarter. Truvestments Capital LLC raised its position in shares of Vertex Pharmaceuticals by 30.3% in the fourth quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company’s stock valued at $40,000 after buying an additional 23 shares during the last quarter. Outlook Wealth Advisors LLC raised its position in shares of Vertex Pharmaceuticals by 2.8% in the third quarter. Outlook Wealth Advisors LLC now owns 892 shares of the pharmaceutical company’s stock valued at $415,000 after buying an additional 24 shares during the last quarter. Finally, Dunhill Financial LLC grew its holdings in shares of Vertex Pharmaceuticals by 70.6% in the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 24 shares during the period. 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.