Vertex Pharmaceuticals (NASDAQ:VRTX – Free Report) had its price objective upped by Barclays from $446.00 to $472.00 in a research report released on Tuesday morning, Benzinga reports. Barclays currently has an overweight rating on the pharmaceutical company’s stock.
Other analysts have also issued reports about the company. Canaccord Genuity Group lowered Vertex Pharmaceuticals from a hold rating to a sell rating and increased their price objective for the stock from $332.00 to $379.00 in a report on Wednesday, January 24th. Robert W. Baird lowered Vertex Pharmaceuticals from a neutral rating to an underperform rating and set a $325.00 price objective on the stock. in a research note on Wednesday, January 31st. StockNews.com upgraded Vertex Pharmaceuticals from a buy rating to a strong-buy rating in a research note on Friday, January 12th. Morgan Stanley lifted their price objective on Vertex Pharmaceuticals from $359.00 to $364.00 and gave the stock an equal weight rating in a research note on Wednesday, November 8th. Finally, Royal Bank of Canada lifted their price objective on Vertex Pharmaceuticals from $347.00 to $379.00 and gave the stock a sector perform rating in a research note on Thursday, December 14th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $412.62.
Vertex Pharmaceuticals Stock Performance
Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last issued its earnings results on Monday, February 5th. The pharmaceutical company reported $4.20 EPS for the quarter, topping the consensus estimate of $3.85 by $0.35. The business had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Vertex Pharmaceuticals had a return on equity of 21.91% and a net margin of 36.68%. During the same quarter last year, the firm posted $3.33 earnings per share. As a group, equities analysts predict that Vertex Pharmaceuticals will post 14.46 EPS for the current fiscal year.
Insider Buying and Selling at Vertex Pharmaceuticals
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 stock was sold at an average price of $419.07, for a total transaction of $2,785,977.36. Following the sale, the chairman now directly owns 2,423 shares of the company’s stock, valued at $1,015,406.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.40% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. OFI Invest Asset Management acquired a new position in shares of Vertex Pharmaceuticals in the 3rd quarter worth approximately $25,000. ST Germain D J Co. Inc. acquired a new position in shares of Vertex Pharmaceuticals in the 2nd quarter worth approximately $26,000. Marquette Asset Management LLC bought a new position in Vertex Pharmaceuticals in the 2nd quarter worth approximately $27,000. Arlington Trust Co LLC raised its position in Vertex Pharmaceuticals by 97.1% in the 4th quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 33 shares during the last quarter. Finally, Compass Wealth Management LLC bought a new position in Vertex Pharmaceuticals in the 4th quarter worth approximately $29,000. 90.77% of the stock is owned by institutional investors and hedge funds.
About Vertex Pharmaceuticals
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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