Analysts’ Weekly Ratings Updates for Vertex Pharmaceuticals (VRTX)

Several brokerages have updated their recommendations and price targets on shares of Vertex Pharmaceuticals (NASDAQ: VRTX) in the last few weeks:

  • 5/23/2022 – Vertex Pharmaceuticals is now covered by analysts at SVB Leerink LLC. They set a “market perform” rating and a $265.00 price target on the stock.
  • 5/6/2022 – Vertex Pharmaceuticals was downgraded by analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating. They now have a $250.00 price target on the stock.
  • 5/6/2022 – Vertex Pharmaceuticals had its price target raised by analysts at Wells Fargo & Company from $300.00 to $305.00.
  • 5/6/2022 – Vertex Pharmaceuticals had its price target lowered by analysts at Piper Sandler from $249.00 to $242.00.
  • 5/3/2022 – Vertex Pharmaceuticals was upgraded by analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating. They now have a $250.00 price target on the stock.
  • 4/21/2022 – Vertex Pharmaceuticals had its price target raised by analysts at Piper Sandler from $245.00 to $249.00. They now have a “neutral” rating on the stock.
  • 4/13/2022 – Vertex Pharmaceuticals had its price target raised by analysts at UBS Group AG from $258.00 to $325.00.
  • 4/5/2022 – Vertex Pharmaceuticals had its price target raised by analysts at Wells Fargo & Company from $270.00 to $300.00. They now have an “overweight” rating on the stock.
  • 4/4/2022 – Vertex Pharmaceuticals was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. They now have a $279.00 price target on the stock. According to Zacks, “Vertex’s cystic franchise sales continue to grow despite the impact of the pandemic. Triple therapy, Trikafta/Kaftrio’s launch was a significant milestone for Vertex as it addresses 90% of CF patients. New reimbursement agreements in ex-U.S. markets and label expansions to younger age groups in the United States are driving Trikafta/Kaftrio sales higher. Meanwhile, Vertex has a broad clinical non-CF pipeline across six disease areas that is progressing rapidly with data from multiple programs expected in 2022. Vertex faces only minimal competition in its core CF franchise. However, Vertex’s dependence on just the CF franchise for commercial revenues is a concern. There are concerns around competitor CF data in 2022. The stock has outperformed the industry this year so far.”
  • 4/4/2022 – Vertex Pharmaceuticals had its price target raised by analysts at Oppenheimer Holdings Inc. from $305.00 to $350.00.
  • 3/31/2022 – Vertex Pharmaceuticals is now covered by analysts at StockNews.com. They set a “strong-buy” rating on the stock.

Shares of Vertex Pharmaceuticals stock traded down $1.19 on Thursday, hitting $269.65. 1,376,598 shares of the company’s stock traded hands, compared to its average volume of 1,725,151. The stock has a market cap of $68.96 billion, a P/E ratio of 28.38, a PEG ratio of 1.89 and a beta of 0.55. The company has a quick ratio of 4.60, a current ratio of 4.75 and a debt-to-equity ratio of 0.05. The firm’s 50-day moving average is $264.24 and its 200 day moving average is $235.74. Vertex Pharmaceuticals Incorporated has a 52-week low of $176.36 and a 52-week high of $292.75.

Vertex Pharmaceuticals (NASDAQ:VRTXGet Rating) last announced its quarterly earnings data on Thursday, May 5th. The pharmaceutical company reported $3.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.01). Vertex Pharmaceuticals had a return on equity of 32.24% and a net margin of 30.84%. The firm had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter last year, the business earned $2.54 earnings per share. The business’s revenue for the quarter was up 21.6% compared to the same quarter last year. Equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 12.47 EPS for the current year.

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 325 shares of the stock in a transaction on Friday, February 25th. The stock was sold at an average price of $230.95, for a total value of $75,058.75. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Kristen Ambrose sold 327 shares of the stock in a transaction on Monday, April 25th. The stock was sold at an average price of $269.55, for a total value of $88,142.85. Following the completion of the sale, the chief accounting officer now directly owns 3,496 shares in the company, valued at $942,346.80. The disclosure for this sale can be found here. Insiders have sold 43,012 shares of company stock worth $11,804,491 over the last 90 days. 0.40% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. J2 Capital Management Inc increased its holdings in shares of Vertex Pharmaceuticals by 2.2% during the first quarter. J2 Capital Management Inc now owns 1,915 shares of the pharmaceutical company’s stock valued at $500,000 after purchasing an additional 41 shares during the period. Evoke Wealth LLC increased its holdings in shares of Vertex Pharmaceuticals by 32.8% during the first quarter. Evoke Wealth LLC now owns 174 shares of the pharmaceutical company’s stock valued at $45,000 after purchasing an additional 43 shares during the period. Veriti Management LLC increased its holdings in shares of Vertex Pharmaceuticals by 3.6% during the fourth quarter. Veriti Management LLC now owns 1,277 shares of the pharmaceutical company’s stock valued at $280,000 after purchasing an additional 44 shares during the period. Diversified Trust Co increased its holdings in shares of Vertex Pharmaceuticals by 1.8% during the first quarter. Diversified Trust Co now owns 2,665 shares of the pharmaceutical company’s stock valued at $695,000 after purchasing an additional 46 shares during the period. Finally, Mutual Advisors LLC increased its holdings in shares of Vertex Pharmaceuticals by 1.4% during the first quarter. Mutual Advisors LLC now owns 3,431 shares of the pharmaceutical company’s stock valued at $895,000 after purchasing an additional 48 shares during the period. 89.84% of the stock is currently owned by hedge funds and other institutional investors.

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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