Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target Cut to $242.00

Vertex Pharmaceuticals (NASDAQ:VRTXGet Rating) had its target price dropped by equities researchers at Piper Sandler from $249.00 to $242.00 in a research note issued to investors on Friday, The Fly reports. Piper Sandler’s price target indicates a potential downside of 9.15% from the stock’s previous close.

VRTX has been the topic of a number of other research reports. Wolfe Research lifted their price objective on Vertex Pharmaceuticals from $271.00 to $282.00 and gave the stock an “outperform” rating in a research note on Thursday, January 27th. Royal Bank of Canada downgraded Vertex Pharmaceuticals from an “outperform” rating to a “sector perform” rating and set a $269.00 target price on the stock. in a research report on Thursday, February 3rd. HC Wainwright reissued a “buy” rating and set a $275.00 target price on shares of Vertex Pharmaceuticals in a research report on Wednesday, March 23rd. Wells Fargo & Company boosted their target price on Vertex Pharmaceuticals from $270.00 to $300.00 and gave the company an “overweight” rating in a research report on Tuesday, April 5th. Finally, JPMorgan Chase & Co. boosted their target price on Vertex Pharmaceuticals from $260.00 to $288.00 and gave the company an “overweight” rating in a research report on Thursday, January 27th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $273.10.

NASDAQ:VRTX opened at $266.37 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.46 and a quick ratio of 4.30. Vertex Pharmaceuticals has a 1 year low of $176.36 and a 1 year high of $292.75. The stock’s 50 day simple moving average is $260.37 and its two-hundred day simple moving average is $228.88. The company has a market cap of $68.07 billion, a price-to-earnings ratio of 29.50, a PEG ratio of 1.79 and a beta of 0.55.

Vertex Pharmaceuticals (NASDAQ:VRTXGet Rating) last released its quarterly earnings data on Thursday, May 5th. The pharmaceutical company reported $3.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.17 by $0.35. Vertex Pharmaceuticals had a return on equity of 32.33% and a net margin of 30.92%. The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the previous year, the company posted $2.54 EPS. The company’s revenue was up 21.6% compared to the same quarter last year. As a group, analysts anticipate that Vertex Pharmaceuticals will post 12.7 EPS for the current year.

In other news, SVP Joy Liu sold 120 shares of the business’s stock in a transaction on Friday, April 29th. The stock was sold at an average price of $275.41, for a total value of $33,049.20. Following the completion of the transaction, the senior vice president now directly owns 14,334 shares of the company’s stock, valued at approximately $3,947,726.94. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP David Altshuler sold 2,297 shares of the company’s stock in a transaction dated Friday, February 11th. The shares were sold at an average price of $235.02, for a total value of $539,840.94. The disclosure for this sale can be found here. Insiders sold a total of 45,792 shares of company stock valued at $12,454,317 over the last quarter. Company insiders own 0.40% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Pensionfund Sabic acquired a new position in Vertex Pharmaceuticals during the 4th quarter valued at about $2,525,000. Hudson Bay Capital Management LP increased its holdings in shares of Vertex Pharmaceuticals by 13.6% in the third quarter. Hudson Bay Capital Management LP now owns 62,500 shares of the pharmaceutical company’s stock valued at $11,337,000 after purchasing an additional 7,500 shares during the period. Meiji Yasuda Life Insurance Co increased its holdings in shares of Vertex Pharmaceuticals by 16.1% in the third quarter. Meiji Yasuda Life Insurance Co now owns 7,422 shares of the pharmaceutical company’s stock valued at $1,346,000 after purchasing an additional 1,030 shares during the period. Moors & Cabot Inc. acquired a new position in shares of Vertex Pharmaceuticals in the third quarter valued at about $29,000. Finally, Schroder Investment Management Group increased its holdings in shares of Vertex Pharmaceuticals by 6.5% in the third quarter. Schroder Investment Management Group now owns 47,179 shares of the pharmaceutical company’s stock valued at $8,557,000 after purchasing an additional 2,891 shares during the period. 89.84% of the stock is currently owned by 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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