Vertex Pharmaceuticals (NASDAQ:VRTX) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Vertex Pharmaceuticals (NASDAQ:VRTX) had its target price hoisted by Royal Bank of Canada from $402.00 to $407.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a sector perform rating on the pharmaceutical company’s stock.

VRTX has been the topic of a number of other reports. Barclays boosted their price target on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the company an “equal weight” rating in a report on Tuesday. Scotiabank boosted their price target on Vertex Pharmaceuticals from $433.00 to $450.00 and gave the company a “sector perform” rating in a report on Tuesday. William Blair restated an “outperform” rating on shares of Vertex Pharmaceuticals in a report on Friday, January 31st. Truist Financial cut their price target on Vertex Pharmaceuticals from $550.00 to $460.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Tuesday. Ten equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $505.96.

Vertex Pharmaceuticals Stock Performance

VRTX stock opened at $462.58 on Tuesday. The business’s 50-day moving average price is $435.70 and its two-hundred day moving average price is $461.79. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01. The firm has a market cap of $119.13 billion, a PE ratio of -232.45, a P/E/G ratio of 1.80 and a beta of 0.41. Vertex Pharmaceuticals has a 1-year low of $377.85 and a 1-year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 EPS for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. As a group, research analysts forecast that Vertex Pharmaceuticals will post -1.94 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Ourania Tatsis sold 310 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $459.83, for a total value of $142,547.30. Following the transaction, the executive vice president now owns 64,021 shares of the company’s stock, valued at approximately $29,438,776.43. This represents a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Vertex Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the company. Mutual Advisors LLC grew its position in shares of Vertex Pharmaceuticals by 0.6% in the third quarter. Mutual Advisors LLC now owns 3,710 shares of the pharmaceutical company’s stock valued at $1,751,000 after purchasing an additional 21 shares during the last quarter. Grove Bank & Trust grew its position in shares of Vertex Pharmaceuticals by 5.7% in the third quarter. Grove Bank & Trust now owns 410 shares of the pharmaceutical company’s stock valued at $191,000 after purchasing an additional 22 shares during the last quarter. Truvestments Capital LLC grew its position in shares of Vertex Pharmaceuticals by 30.3% in the fourth quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company’s stock valued at $40,000 after purchasing an additional 23 shares during the last quarter. Outlook Wealth Advisors LLC grew its position in shares of Vertex Pharmaceuticals by 2.8% in the third quarter. Outlook Wealth Advisors LLC now owns 892 shares of the pharmaceutical company’s stock valued at $415,000 after purchasing an additional 24 shares during the last quarter. Finally, Dunhill Financial LLC grew its position in shares of Vertex Pharmaceuticals by 70.6% in the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 24 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

About Vertex Pharmaceuticals

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.