Brokerages Set Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) PT at $495.96

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) has been given a consensus rating of “Moderate Buy” by the thirty brokerages that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eighteen have given a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $499.12.

A number of research analysts have recently commented on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $480.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, November 5th. Morgan Stanley lifted their price target on Vertex Pharmaceuticals from $473.00 to $476.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Piper Sandler upped their price objective on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. HC Wainwright reaffirmed a “buy” rating and issued a $600.00 price objective on shares of Vertex Pharmaceuticals in a research report on Monday, October 21st. Finally, Canaccord Genuity Group boosted their target price on Vertex Pharmaceuticals from $361.00 to $408.00 and gave the stock a “sell” rating in a report on Wednesday, November 6th.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the sale, the chairman now directly owns 9,994 shares of the company’s stock, valued at approximately $4,987,006. The trade was a 27.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sangeeta N. Bhatia sold 646 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $2,217,500. This trade represents a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. Northwest Investment Counselors LLC acquired a new stake in Vertex Pharmaceuticals in the third quarter worth $25,000. Highline Wealth Partners LLC bought a new stake in shares of Vertex Pharmaceuticals during the third quarter valued at approximately $27,000. GHP Investment Advisors Inc. bought a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at approximately $29,000. Stephens Consulting LLC acquired a new position in shares of Vertex Pharmaceuticals during the second quarter worth approximately $31,000. Finally, Founders Capital Management lifted its holdings in shares of Vertex Pharmaceuticals by 50.0% in the 2nd quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock worth $35,000 after purchasing an additional 25 shares in the last quarter. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

VRTX opened at $483.96 on Tuesday. The business’s 50-day simple moving average is $476.13 and its 200 day simple moving average is $470.48. Vertex Pharmaceuticals has a 52-week low of $341.90 and a 52-week high of $519.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47. The firm has a market capitalization of $124.63 billion, a PE ratio of -248.55 and a beta of 0.39.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.61 by $0.77. The company had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The business’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.67 EPS. As a group, sell-side analysts expect that Vertex Pharmaceuticals will post -1.82 earnings per share for the current fiscal year.

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.