Vertex Pharmaceuticals (NASDAQ:VRTX) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Vertex Pharmaceuticals (NASDAQ:VRTX) from a hold rating to a buy rating in a research report released on Tuesday.

Several other brokerages have also issued reports on VRTX. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $480.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Wells Fargo & Company lowered Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 price objective for the company. in a research report on Thursday, January 30th. HC Wainwright reaffirmed a “buy” rating and issued a $550.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Canaccord Genuity Group raised Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and boosted their target price for the company from $408.00 to $424.00 in a research report on Tuesday, February 11th. Finally, Truist Financial boosted their target price on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Ten research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $506.70.

Vertex Pharmaceuticals Stock Up 1.5 %

Shares of NASDAQ:VRTX opened at $502.92 on Tuesday. The firm has a market cap of $129.14 billion, a P/E ratio of -228.60, a P/E/G ratio of 2.11 and a beta of 0.41. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals has a 12-month low of $377.85 and a 12-month high of $519.88. The business has a fifty day simple moving average of $455.79 and a 200 day simple moving average of $461.87.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Analysts predict that Vertex Pharmaceuticals will post 15.63 earnings per share for the current year.

Insider Activity

In other news, EVP Ourania Tatsis sold 310 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $459.83, for a total transaction of $142,547.30. Following the completion of the sale, the executive vice president now directly owns 64,021 shares of the company’s stock, valued at $29,438,776.43. This trade represents a 0.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP David Altshuler sold 3,231 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $500.00, for a total value of $1,615,500.00. Following the sale, the executive vice president now directly owns 26,512 shares of the company’s stock, valued at approximately $13,256,000. This represents a 10.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,315 shares of company stock valued at $2,121,012 in the last ninety days. 0.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. Dunhill Financial LLC increased its holdings in Vertex Pharmaceuticals by 70.6% in the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after acquiring an additional 24 shares during the last quarter. Legacy Investment Solutions LLC purchased a new stake in Vertex Pharmaceuticals in the 3rd quarter worth about $33,000. Brown Lisle Cummings Inc. purchased a new stake in Vertex Pharmaceuticals in the 4th quarter worth about $30,000. Truvestments Capital LLC bought a new position in Vertex Pharmaceuticals in the 3rd quarter worth about $35,000. Finally, Sugar Maple Asset Management LLC bought a new position in Vertex Pharmaceuticals in the 4th quarter worth about $35,000. Hedge funds and other 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.