Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target Raised to $424.00

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price target hoisted by Royal Bank of Canada from $417.00 to $424.00 in a research report released on Tuesday morning, Benzinga reports. They currently have a sector perform rating on the pharmaceutical company’s stock.

VRTX has been the topic of several other reports. Barclays upped their price objective on shares of Vertex Pharmaceuticals from $446.00 to $472.00 and gave the stock an overweight rating in a research note on Tuesday, February 6th. Wolfe Research initiated coverage on Vertex Pharmaceuticals in a research report on Thursday, February 15th. They issued an outperform rating and a $515.00 price objective for the company. Cantor Fitzgerald restated an overweight rating and set a $440.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday, February 20th. StockNews.com upgraded shares of Vertex Pharmaceuticals from a buy rating to a strong-buy rating in a research report on Friday, May 3rd. Finally, JPMorgan Chase & Co. raised their price target on shares of Vertex Pharmaceuticals from $390.00 to $438.00 and gave the company an overweight rating in a report on Thursday, February 1st. Three analysts have rated the stock with a sell rating, seven have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of Moderate Buy and an average target price of $432.18.

Vertex Pharmaceuticals Trading Up 1.9 %

Shares of VRTX opened at $410.24 on Tuesday. The company has a current ratio of 3.99, a quick ratio of 3.78 and a debt-to-equity ratio of 0.02. The stock has a market cap of $106.03 billion, a PE ratio of 29.53, a PEG ratio of 1.89 and a beta of 0.39. Vertex Pharmaceuticals has a 1 year low of $320.01 and a 1 year high of $448.40. The stock has a 50 day simple moving average of $408.02 and a 200-day simple moving average of $400.75.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.66 by $1.10. Vertex Pharmaceuticals had a return on equity of 21.91% and a net margin of 36.68%. The firm had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same period in the prior year, the company posted $2.67 earnings per share. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. On average, sell-side analysts predict that Vertex Pharmaceuticals will post 14.95 EPS for the current fiscal year.

Insider Activity at Vertex Pharmaceuticals

In related news, EVP Amit Sachdev sold 3,222 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $420.24, for a total transaction of $1,354,013.28. Following the completion of the transaction, the executive vice president now owns 74,364 shares in the company, valued at $31,250,727.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Amit Sachdev sold 3,222 shares of Vertex Pharmaceuticals stock in a transaction on Monday, February 12th. The shares were sold at an average price of $420.24, for a total transaction of $1,354,013.28. Following the transaction, the executive vice president now directly owns 74,364 shares of the company’s stock, valued at $31,250,727.36. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Stuart A. Arbuckle sold 4,295 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $420.24, for a total transaction of $1,804,930.80. Following the completion of the transaction, the chief operating officer now directly owns 75,718 shares of the company’s stock, valued at approximately $31,819,732.32. The disclosure for this sale can be found here. Insiders have sold 12,381 shares of company stock worth $5,203,249 in the last ninety days. Company insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Vertex Pharmaceuticals

Several institutional investors have recently modified their holdings of VRTX. University of Texas Texas AM Investment Managment Co. bought a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth $25,000. Annapolis Financial Services LLC bought a new position in Vertex Pharmaceuticals during the 1st quarter worth about $27,000. Arlington Trust Co LLC increased its holdings in Vertex Pharmaceuticals by 97.1% during the 4th quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 33 shares in the last quarter. ICA Group Wealth Management LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 4th quarter valued at about $28,000. Finally, Fortitude Family Office LLC bought a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at about $30,000. 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.