Vertex Pharmaceuticals (NASDAQ:VRTX – Get Rating) had its price target boosted by stock analysts at JPMorgan Chase & Co. from $319.00 to $327.00 in a research note issued to investors on Monday, The Fly reports. JPMorgan Chase & Co.’s price target suggests a potential upside of 10.53% from the company’s previous close.
A number of other equities analysts have also weighed in on VRTX. Cantor Fitzgerald started coverage on shares of Vertex Pharmaceuticals in a research report on Tuesday, July 12th. They set an “overweight” rating and a $365.00 price target on the stock. StockNews.com assumed coverage on Vertex Pharmaceuticals in a report on Wednesday, October 12th. They issued a “strong-buy” rating for the company. Piper Sandler upped their target price on Vertex Pharmaceuticals from $288.00 to $293.00 in a report on Sunday, October 16th. Barclays lifted their price target on Vertex Pharmaceuticals from $291.00 to $307.00 and gave the stock an “overweight” rating in a report on Friday, August 5th. Finally, HC Wainwright raised their price objective on shares of Vertex Pharmaceuticals from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, August 5th. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $293.85.
Vertex Pharmaceuticals Trading Up 2.0 %
Shares of Vertex Pharmaceuticals stock opened at $295.84 on Monday. The firm has a 50-day simple moving average of $290.49 and a two-hundred day simple moving average of $280.00. Vertex Pharmaceuticals has a fifty-two week low of $179.96 and a fifty-two week high of $305.95. The company has a market cap of $75.87 billion, a P/E ratio of 23.92, a price-to-earnings-growth ratio of 2.12 and a beta of 0.42. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.36 and a current ratio of 4.50.
Vertex Pharmaceuticals (NASDAQ:VRTX – Get Rating) last issued its quarterly earnings results on Thursday, August 4th. The pharmaceutical company reported $3.25 EPS for the quarter, topping the consensus estimate of $3.05 by $0.20. The firm had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Vertex Pharmaceuticals had a return on equity of 31.22% and a net margin of 38.26%. The firm’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.80 earnings per share. As a group, equities analysts predict that Vertex Pharmaceuticals will post 12.67 earnings per share for the current fiscal year.
Insider Buying and Selling at Vertex Pharmaceuticals
In related news, Director Sangeeta N. Bhatia sold 621 shares of the business’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $293.03, for a total transaction of $181,971.63. Following the completion of the transaction, the director now owns 4,661 shares in the company, valued at $1,365,812.83. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Bastiano Sanna sold 1,791 shares of the business’s stock in a transaction that occurred on Tuesday, October 18th. The stock was sold at an average price of $300.31, for a total transaction of $537,855.21. Following the completion of the sale, the executive vice president now owns 39,192 shares in the company, valued at $11,769,749.52. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sangeeta N. Bhatia sold 621 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $293.03, for a total transaction of $181,971.63. Following the sale, the director now directly owns 4,661 shares in the company, valued at approximately $1,365,812.83. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,678 shares of company stock valued at $14,749,713. Insiders own 0.40% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Vertex Pharmaceuticals by 1.6% during the first quarter. Vanguard Group Inc. now owns 20,473,471 shares of the pharmaceutical company’s stock worth $5,342,963,000 after purchasing an additional 317,629 shares in the last quarter. FMR LLC boosted its holdings in shares of Vertex Pharmaceuticals by 27.1% in the second quarter. FMR LLC now owns 16,753,011 shares of the pharmaceutical company’s stock valued at $4,720,832,000 after acquiring an additional 3,571,298 shares during the period. Capital World Investors increased its holdings in shares of Vertex Pharmaceuticals by 9.9% in the 1st quarter. Capital World Investors now owns 12,666,130 shares of the pharmaceutical company’s stock valued at $3,305,417,000 after acquiring an additional 1,145,275 shares during the period. State Street Corp boosted its stake in Vertex Pharmaceuticals by 1.8% during the 2nd quarter. State Street Corp now owns 12,264,049 shares of the pharmaceutical company’s stock worth $3,455,886,000 after purchasing an additional 211,286 shares during the period. Finally, Wellington Management Group LLP grew its position in Vertex Pharmaceuticals by 23.6% during the 1st quarter. Wellington Management Group LLP now owns 8,053,710 shares of the pharmaceutical company’s stock worth $2,101,776,000 after purchasing an additional 1,535,255 shares during the last quarter. 91.33% of the stock is owned by hedge funds and other institutional investors.
About Vertex Pharmaceuticals
Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene; and TRIKAFTA for the treatment of patients with CF 6 years of age or older who have at least one F508del mutation.