Vertex Pharmaceuticals (VRTX) – Research Analysts’ Weekly Ratings Changes

Vertex Pharmaceuticals (NASDAQ: VRTX) has recently received a number of price target changes and ratings updates:

• 6/17/2024 – Vertex Pharmaceuticals had its price target raised by analysts at Argus from $465.00 to $550.00. They now have a “buy” rating on the stock.
• 6/14/2024 – Vertex Pharmaceuticals was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
• 6/11/2024 – Vertex Pharmaceuticals had its price target lowered by analysts at Royal Bank of Canada from $424.00 to $421.00. They now have a “sector perform” rating on the stock.
• 6/4/2024 – Vertex Pharmaceuticals had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $424.00 price target on the stock.
• 6/4/2024 – Vertex Pharmaceuticals was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 5/31/2024 – Vertex Pharmaceuticals had its price target raised by analysts at BMO Capital Markets from $480.00 to $500.00. They now have an “outperform” rating on the stock.
• 5/27/2024 – Vertex Pharmaceuticals was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 5/19/2024 – Vertex Pharmaceuticals was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
• 5/11/2024 – Vertex Pharmaceuticals was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 5/7/2024 – Vertex Pharmaceuticals had its price target raised by analysts at Royal Bank of Canada from $417.00 to $424.00. They now have a “sector perform” rating on the stock.
• 5/7/2024 – Vertex Pharmaceuticals had its price target raised by analysts at Piper Sandler from $450.00 to $456.00. They now have an “overweight” rating on the stock.
• 5/7/2024 – Vertex Pharmaceuticals had its “hold” rating reaffirmed by analysts at Needham & Company LLC.
• 5/7/2024 – Vertex Pharmaceuticals had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $462.00 price target on the stock.
• 5/3/2024 – Vertex Pharmaceuticals was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
• 4/20/2024 – Vertex Pharmaceuticals was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.

Vertex Pharmaceuticals Price Performance

Shares of VRTX stock traded down $3.42 during trading hours on Tuesday, reaching $470.27. 259,937 shares of the company were exchanged, compared to its average volume of 1,206,377. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $335.82 and a fifty-two week high of $486.42. The stock’s fifty day moving average is $431.54 and its two-hundred day moving average is $419.71. The company has a market cap of $121.35 billion, a price-to-earnings ratio of 30.52, a P/E/G ratio of 2.47 and a beta of 0.41. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.50 and a quick ratio of 3.29.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.66 by $1.10. Vertex Pharmaceuticals had a net margin of 39.46% and a return on equity of 23.08%. The company had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same period in the prior year, the business earned $2.67 earnings per share. Vertex Pharmaceuticals’s quarterly revenue was up 13.3% on a year-over-year basis. Sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Reshma Kewalramani sold 1,565 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $457.00, for a total transaction of $715,205.00. Following the completion of the sale, the chief executive officer now directly owns 121,374 shares of the company’s stock, valued at $55,467,918. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Vertex Pharmaceuticals news, EVP Edward Morrow Atkinson III sold 7,288 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $478.00, for a total value of $3,483,664.00. Following the completion of the sale, the executive vice president now owns 15,972 shares of the company’s stock, valued at $7,634,616. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Reshma Kewalramani sold 1,565 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $457.00, for a total transaction of $715,205.00. Following the completion of the sale, the chief executive officer now directly owns 121,374 shares of the company’s stock, valued at approximately $55,467,918. The disclosure for this sale can be found here. Insiders sold a total of 26,086 shares of company stock valued at $11,983,266 over the last ninety days. Insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Several large investors have recently bought and sold shares of the company. 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 stake in shares of Vertex Pharmaceuticals during the first quarter worth $27,000. Arlington Trust Co LLC increased its position in shares of Vertex Pharmaceuticals by 97.1% during the fourth quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock worth $27,000 after acquiring an additional 33 shares in the last quarter. ICA Group Wealth Management LLC bought a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth $28,000. Finally, Fortitude Family Office LLC bought a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth $30,000. Institutional investors own 90.96% of the company’s stock.

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.