Vertex Pharmaceuticals’ (VRTX) Overweight Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Vertex Pharmaceuticals (NASDAQ:VRTX) in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The firm currently has a $535.00 price target on the pharmaceutical company’s stock.

VRTX has been the topic of a number of other reports. Truist Financial raised their price target on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Piper Sandler lowered their price objective on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. HC Wainwright restated a “buy” rating and set a $550.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. Ten analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $514.91.

Vertex Pharmaceuticals Stock Up 2.7 %

Shares of NASDAQ VRTX opened at $490.47 on Tuesday. The firm has a fifty day simple moving average of $487.81 and a two-hundred day simple moving average of $465.64. Vertex Pharmaceuticals has a 12 month low of $377.85 and a 12 month high of $519.88. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $125.95 billion, a PE ratio of -222.94, a price-to-earnings-growth ratio of 2.11 and a beta of 0.50.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. Equities analysts expect that Vertex Pharmaceuticals will post 15.63 earnings per share for the current year.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, EVP David Altshuler sold 3,231 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the sale, the executive vice president now directly owns 26,512 shares in the company, valued at approximately $13,256,000. This trade represents a 10.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Ourania Tatsis sold 244 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total transaction of $111,034.64. Following the transaction, the executive vice president now directly owns 67,695 shares in the company, valued at approximately $30,805,286.70. The trade was a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,315 shares of company stock worth $2,121,012 in the last 90 days. 0.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Vertex Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the business. Advisory Resource Group raised its holdings in shares of Vertex Pharmaceuticals by 3.2% during the third quarter. Advisory Resource Group now owns 1,970 shares of the pharmaceutical company’s stock worth $916,000 after purchasing an additional 61 shares during the period. Anchor Investment Management LLC lifted its holdings in Vertex Pharmaceuticals by 1,352.3% in the third quarter. Anchor Investment Management LLC now owns 1,583 shares of the pharmaceutical company’s stock worth $736,000 after acquiring an additional 1,474 shares during the last quarter. World Investment Advisors LLC acquired a new position in Vertex Pharmaceuticals in the third quarter valued at approximately $24,280,000. Wilmington Savings Fund Society FSB bought a new position in shares of Vertex Pharmaceuticals during the third quarter valued at approximately $2,187,000. Finally, Destination Wealth Management raised its position in shares of Vertex Pharmaceuticals by 4.5% during the 3rd quarter. Destination Wealth Management now owns 3,361 shares of the pharmaceutical company’s stock worth $1,563,000 after purchasing an additional 144 shares during the period. 90.96% of the stock is owned by institutional investors and hedge funds.

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.