Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Receives Consensus Rating of “Moderate Buy” from Analysts

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) has been given a consensus recommendation of “Moderate Buy” by the twenty-six analysts that are presently covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation, nineteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $522.6842.

VRTX has been the subject of several research reports. Sanford C. Bernstein upgraded Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research report on Monday, January 12th. Stifel Nicolaus lowered their price objective on Vertex Pharmaceuticals from $455.00 to $445.00 and set a “hold” rating for the company in a research note on Tuesday, November 4th. Evercore ISI lifted their target price on shares of Vertex Pharmaceuticals from $475.00 to $530.00 and gave the stock an “outperform” rating in a research report on Friday, January 23rd. Scotiabank started coverage on shares of Vertex Pharmaceuticals in a research report on Thursday, November 13th. They issued a “sector outperform” rating and a $495.00 price target for the company. Finally, Morgan Stanley set a $564.00 price target on shares of Vertex Pharmaceuticals in a research note on Friday, December 5th.

Vertex Pharmaceuticals Price Performance

Shares of Vertex Pharmaceuticals stock opened at $470.52 on Thursday. The company’s 50 day moving average price is $456.21 and its two-hundred day moving average price is $427.39. The firm has a market capitalization of $119.38 billion, a P/E ratio of 33.18 and a beta of 0.30. Vertex Pharmaceuticals has a fifty-two week low of $362.50 and a fifty-two week high of $519.68.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 EPS for the quarter, beating analysts’ consensus estimates of $4.58 by $0.22. The company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Vertex Pharmaceuticals had a return on equity of 23.51% and a net margin of 31.35%.Vertex Pharmaceuticals’s revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company earned $4.38 EPS. On average, analysts expect that Vertex Pharmaceuticals will post 15.63 earnings per share for the current year.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 63,781 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $449.20, for a total value of $28,650,425.20. Following the sale, the chairman owned 24,026 shares in the company, valued at approximately $10,792,479.20. The trade was a 72.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Ourania Tatsis sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $474.99, for a total value of $2,137,455.00. Following the transaction, the executive vice president owned 42,293 shares of the company’s stock, valued at $20,088,752.07. This trade represents a 9.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 165,105 shares of company stock valued at $73,858,523. 0.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Institutional investors have recently modified their holdings of the company. Access Investment Management LLC acquired a new position in Vertex Pharmaceuticals in the second quarter valued at $27,000. Chesapeake Asset Management LLC raised its position in shares of Vertex Pharmaceuticals by 110.0% in the 3rd quarter. Chesapeake Asset Management LLC now owns 63 shares of the pharmaceutical company’s stock worth $25,000 after acquiring an additional 33 shares in the last quarter. Eagle Bay Advisors LLC acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at about $29,000. Legacy Investment Solutions LLC bought a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter valued at about $29,000. Finally, Colonial Trust Co SC grew its stake in Vertex Pharmaceuticals by 118.8% during the third quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 38 shares during the period. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.