Cantor Fitzgerald Increases Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target to $440.00

Vertex Pharmaceuticals (NASDAQ:VRTXGet Free Report) had its target price boosted by equities research analysts at Cantor Fitzgerald from $415.00 to $440.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the pharmaceutical company’s stock. Cantor Fitzgerald’s price target suggests a potential upside of 2.29% from the stock’s previous close. Cantor Fitzgerald also issued estimates for Vertex Pharmaceuticals’ FY2024 earnings at $14.98 EPS.

Several other research analysts have also issued reports on the company. Barclays raised their target price on Vertex Pharmaceuticals from $408.00 to $415.00 and gave the stock an “overweight” rating in a research report on Monday, December 11th. BMO Capital Markets boosted their target price on Vertex Pharmaceuticals from $389.00 to $415.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 7th. StockNews.com upgraded Vertex Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 12th. HC Wainwright boosted their target price on Vertex Pharmaceuticals from $390.00 to $397.00 and gave the stock a “buy” rating in a research note on Monday, December 11th. Finally, Morgan Stanley increased their price objective on Vertex Pharmaceuticals from $359.00 to $364.00 and gave the company an “equal weight” rating in a report on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $385.61.

Check Out Our Latest Stock Analysis on Vertex Pharmaceuticals

Vertex Pharmaceuticals Price Performance

VRTX stock traded up $0.21 during trading on Wednesday, hitting $430.17. The company had a trading volume of 944,498 shares, compared to its average volume of 1,345,503. The company has a fifty day moving average price of $394.48 and a two-hundred day moving average price of $368.99. The company has a current ratio of 4.08, a quick ratio of 3.89 and a debt-to-equity ratio of 0.02. Vertex Pharmaceuticals has a fifty-two week low of $283.60 and a fifty-two week high of $443.82. The company has a market cap of $110.85 billion, a P/E ratio of 32.28, a P/E/G ratio of 2.73 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTXGet Free Report) last posted its quarterly earnings data on Monday, November 6th. The pharmaceutical company reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.53 by $0.55. Vertex Pharmaceuticals had a return on equity of 22.79% and a net margin of 35.94%. The company had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the prior year, the firm earned $3.62 earnings per share. Vertex Pharmaceuticals’s revenue for the quarter was up 6.4% compared to the same quarter last year. Equities research analysts expect that Vertex Pharmaceuticals will post 13.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 6,648 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $419.07, for a total value of $2,785,977.36. Following the completion of the sale, the chairman now owns 2,423 shares of the company’s stock, valued at approximately $1,015,406.61. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 11,250 shares of the business’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $385.00, for a total value of $4,331,250.00. Following the sale, the director now owns 40,000 shares in the company, valued at approximately $15,400,000. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Jeffrey M. Leiden sold 6,648 shares of the business’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $419.07, for a total transaction of $2,785,977.36. Following the completion of the sale, the chairman now owns 2,423 shares in the company, valued at approximately $1,015,406.61. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,549 shares of company stock valued at $9,128,531. Company insiders own 0.40% of the company’s stock.

Institutional Trading of Vertex Pharmaceuticals

Several hedge funds have recently made changes to their positions in the business. LSV Asset Management grew its holdings in Vertex Pharmaceuticals by 206.3% during the 1st quarter. LSV Asset Management now owns 4,751 shares of the pharmaceutical company’s stock valued at $1,240,000 after purchasing an additional 3,200 shares during the last quarter. Synovus Financial Corp grew its holdings in Vertex Pharmaceuticals by 9.6% during the 1st quarter. Synovus Financial Corp now owns 6,737 shares of the pharmaceutical company’s stock valued at $1,759,000 after purchasing an additional 590 shares during the last quarter. Cibc World Market Inc. grew its holdings in Vertex Pharmaceuticals by 69.4% during the 1st quarter. Cibc World Market Inc. now owns 6,622 shares of the pharmaceutical company’s stock valued at $1,728,000 after purchasing an additional 2,713 shares during the last quarter. Sei Investments Co. grew its holdings in Vertex Pharmaceuticals by 28.4% during the 1st quarter. Sei Investments Co. now owns 44,090 shares of the pharmaceutical company’s stock valued at $11,756,000 after purchasing an additional 9,761 shares during the last quarter. Finally, Cetera Investment Advisers grew its holdings in Vertex Pharmaceuticals by 4.0% during the 1st quarter. Cetera Investment Advisers now owns 14,114 shares of the pharmaceutical company’s stock valued at $3,683,000 after purchasing an additional 544 shares during the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Company Profile

(Get Free Report)

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO and SYMDEKO/SYMKEVI for people with CF with at least one F508del mutation for 6 years of age or older; ORKAMBI for CF homozygous F508del mutation for CF patients 2 year or older; and KALYDECO for the treatment of patients with 4 months or older who have CF with a mutation that is responsive to ivacaftor, and R117H mutation or one of certain gating mutations.

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