Vertex Pharmaceuticals (NASDAQ:VRTX) Upgraded to Equal Weight at Morgan Stanley

Vertex Pharmaceuticals (NASDAQ:VRTXGet Rating) was upgraded by research analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research note issued on Tuesday, Briefing.com reports. The brokerage presently has a $250.00 target price on the pharmaceutical company’s stock. Morgan Stanley’s price objective would indicate a potential downside of 4.57% from the company’s current price.

A number of other equities analysts have also recently issued reports on VRTX. Royal Bank of Canada cut shares of Vertex Pharmaceuticals from an “outperform” rating to a “sector perform” rating and set a $269.00 price objective on the stock. in a research report on Thursday, February 3rd. BMO Capital Markets raised shares of Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $202.00 to $274.00 in a research report on Thursday, January 20th. JPMorgan Chase & Co. upped their target price on shares of Vertex Pharmaceuticals from $260.00 to $288.00 and gave the stock an “overweight” rating in a report on Thursday, January 27th. Zacks Investment Research lowered shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating and set a $279.00 price objective for the company. in a research note on Monday, April 4th. Finally, Wolfe Research increased their price objective on shares of Vertex Pharmaceuticals from $271.00 to $282.00 and gave the company an “outperform” rating in a research note on Thursday, January 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Vertex Pharmaceuticals has an average rating of “Buy” and a consensus price target of $273.43.

Shares of VRTX opened at $261.96 on Tuesday. The company has a current ratio of 4.46, a quick ratio of 4.30 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $66.94 billion, a P/E ratio of 29.01, a price-to-earnings-growth ratio of 1.87 and a beta of 0.62. The firm’s fifty day simple moving average is $258.01 and its two-hundred day simple moving average is $227.69. Vertex Pharmaceuticals has a 12 month low of $176.36 and a 12 month high of $292.75.

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 325 shares of the firm’s stock in a transaction on Friday, February 25th. The shares were sold at an average price of $230.95, for a total value of $75,058.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Bastiano Sanna sold 1,040 shares of the firm’s stock in a transaction on Wednesday, February 2nd. The shares were sold at an average price of $250.98, for a total transaction of $261,019.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,950 shares of company stock valued at $12,975,167. 0.40% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in VRTX. BlackRock Inc. raised its position in shares of Vertex Pharmaceuticals by 1.7% during the 4th quarter. BlackRock Inc. now owns 23,944,931 shares of the pharmaceutical company’s stock valued at $5,258,308,000 after buying an additional 397,036 shares in the last quarter. State Street Corp raised its position in shares of Vertex Pharmaceuticals by 0.3% during the 4th quarter. State Street Corp now owns 12,356,915 shares of the pharmaceutical company’s stock valued at $2,713,579,000 after buying an additional 33,499 shares in the last quarter. Capital World Investors raised its position in shares of Vertex Pharmaceuticals by 4.3% during the 4th quarter. Capital World Investors now owns 11,520,855 shares of the pharmaceutical company’s stock valued at $2,530,003,000 after buying an additional 478,553 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of Vertex Pharmaceuticals by 15.2% during the 4th quarter. Alliancebernstein L.P. now owns 10,443,771 shares of the pharmaceutical company’s stock valued at $2,293,452,000 after buying an additional 1,374,923 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Vertex Pharmaceuticals by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 4,356,220 shares of the pharmaceutical company’s stock valued at $954,276,000 after buying an additional 53,868 shares in the last quarter. 89.84% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Company Profile (Get Rating)

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene; and TRIKAFTA for the treatment of patients with CF 6 years of age or older who have at least one F508del mutation.

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