Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Monday.
A number of other research analysts also recently weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Vertex Pharmaceuticals from $540.00 to $555.00 and gave the stock an “overweight” rating in a research report on Monday. Guggenheim upped their price objective on shares of Vertex Pharmaceuticals from $445.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Evercore ISI upgraded shares of Vertex Pharmaceuticals from an “in-line” rating to an “outperform” rating and set a $438.00 price target for the company in a research report on Thursday, April 11th. Argus upped their price target on shares of Vertex Pharmaceuticals from $465.00 to $550.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Finally, Royal Bank of Canada reduced their price target on shares of Vertex Pharmaceuticals from $424.00 to $421.00 and set a “sector perform” rating for the company in a research report on Tuesday, June 11th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $444.23.
Vertex Pharmaceuticals Stock Performance
NASDAQ VRTX traded up $6.24 on Monday, reaching $474.95. 1,188,491 shares of the company’s stock traded hands, compared to its average volume of 1,229,691. The stock has a 50 day moving average price of $438.61 and a 200-day moving average price of $423.84. The firm has a market cap of $122.56 billion, a price-to-earnings ratio of 30.82, a P/E/G ratio of 2.42 and a beta of 0.41. Vertex Pharmaceuticals has a fifty-two week low of $335.82 and a fifty-two week high of $486.42. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.29 and a current ratio of 3.50.
Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last issued its quarterly earnings data on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share for the quarter, topping analysts’ consensus estimates of $3.66 by $1.10. The business had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.58 billion. Vertex Pharmaceuticals had a net margin of 39.46% and a return on equity of 23.08%. The company’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.67 earnings per share. Equities research analysts predict that Vertex Pharmaceuticals will post 15.22 EPS for the current fiscal year.
Insider Activity
In related news, CEO Reshma Kewalramani sold 1,565 shares of the 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 transaction, the chief executive officer now owns 121,374 shares of the company’s stock, valued at approximately $55,467,918. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CMO Carmen Bozic sold 2,280 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $445.56, for a total transaction of $1,015,876.80. Following the completion of the transaction, the chief marketing officer now owns 34,659 shares of the company’s stock, valued at approximately $15,442,664.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Reshma Kewalramani sold 1,565 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $457.00, for a total transaction of $715,205.00. Following the transaction, 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 in the last 90 days. Company insiders own 0.20% of the company’s stock.
Hedge Funds Weigh In On Vertex Pharmaceuticals
A number of hedge funds have recently made changes to their positions in the stock. NBW Capital LLC lifted its holdings in Vertex Pharmaceuticals by 5.2% during the 1st quarter. NBW Capital LLC now owns 20,443 shares of the pharmaceutical company’s stock worth $8,545,000 after buying an additional 1,011 shares in the last quarter. Jackson Wealth Management LLC lifted its holdings in Vertex Pharmaceuticals by 1.3% during the 1st quarter. Jackson Wealth Management LLC now owns 3,555 shares of the pharmaceutical company’s stock worth $1,486,000 after buying an additional 46 shares in the last quarter. Railway Pension Investments Ltd lifted its holdings in Vertex Pharmaceuticals by 0.9% during the 1st quarter. Railway Pension Investments Ltd now owns 99,700 shares of the pharmaceutical company’s stock worth $41,676,000 after buying an additional 900 shares in the last quarter. Motiv8 Investments LLC lifted its holdings in Vertex Pharmaceuticals by 24.8% during the 1st quarter. Motiv8 Investments LLC now owns 1,410 shares of the pharmaceutical company’s stock worth $589,000 after buying an additional 280 shares in the last quarter. Finally, Cetera Advisors LLC lifted its holdings in Vertex Pharmaceuticals by 63.2% during the 1st quarter. Cetera Advisors LLC now owns 13,912 shares of the pharmaceutical company’s stock worth $5,815,000 after buying an additional 5,390 shares in the last quarter. 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.