Vertex Pharmaceuticals (NASDAQ:VRTX) Rating Increased to Strong-Buy at StockNews.com

Vertex Pharmaceuticals (NASDAQ:VRTXGet Free Report) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Friday.

Several other research analysts have also issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Vertex Pharmaceuticals from $390.00 to $438.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. HC Wainwright raised their price objective on shares of Vertex Pharmaceuticals from $397.00 to $457.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Royal Bank of Canada raised their price objective on shares of Vertex Pharmaceuticals from $397.00 to $420.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 6th. Wolfe Research started coverage on shares of Vertex Pharmaceuticals in a research note on Thursday, February 15th. They issued an “outperform” rating and a $515.00 price objective on the stock. Finally, Wells Fargo & Company raised their price objective on shares of Vertex Pharmaceuticals from $500.00 to $540.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $417.27.

Check Out Our Latest Analysis on Vertex Pharmaceuticals

Vertex Pharmaceuticals Stock Performance

Shares of Vertex Pharmaceuticals stock opened at $415.66 on Friday. The company has a 50 day moving average of $423.83 and a 200-day moving average of $389.51. Vertex Pharmaceuticals has a 1-year low of $300.67 and a 1-year high of $448.40. The company has a current ratio of 3.99, a quick ratio of 3.78 and a debt-to-equity ratio of 0.02. The company has a market cap of $107.37 billion, a PE ratio of 29.93, a price-to-earnings-growth ratio of 2.26 and a beta of 0.35.

Vertex Pharmaceuticals (NASDAQ:VRTXGet Free Report) last announced its quarterly earnings results on Monday, February 5th. The pharmaceutical company reported $4.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.85 by $0.35. Vertex Pharmaceuticals had a net margin of 36.68% and a return on equity of 21.91%. The firm had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the prior year, the company posted $3.33 EPS. As a group, equities research analysts forecast that Vertex Pharmaceuticals will post 14.95 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Amit Sachdev sold 3,222 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $420.24, for a total transaction of $1,354,013.28. Following the transaction, the executive vice president now owns 74,364 shares in the company, valued at $31,250,727.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Chairman Jeffrey M. Leiden sold 6,648 shares of the company’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $419.07, for a total value of $2,785,977.36. Following the sale, the chairman now owns 2,423 shares in the company, valued at $1,015,406.61. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Amit Sachdev sold 3,222 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $420.24, for a total value of $1,354,013.28. Following the completion of the sale, the executive vice president now owns 74,364 shares in the company, valued at approximately $31,250,727.36. The disclosure for this sale can be found here. Insiders have sold a total of 19,029 shares of company stock worth $7,989,227 over the last 90 days. 0.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Several hedge funds have recently bought and sold shares of VRTX. LSV Asset Management raised its stake in Vertex Pharmaceuticals by 206.3% in 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 raised its stake in Vertex Pharmaceuticals by 9.6% in 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. raised its stake in Vertex Pharmaceuticals by 69.4% in 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. raised its stake in Vertex Pharmaceuticals by 28.4% in 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 raised its stake in Vertex Pharmaceuticals by 4.0% in 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. Hedge funds and other institutional investors own 90.77% of the company’s stock.

About Vertex Pharmaceuticals

(Get Free Report)

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.

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Analyst Recommendations for Vertex Pharmaceuticals (NASDAQ:VRTX)

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