Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target Increased to $300.00 by Analysts at HC Wainwright

Vertex Pharmaceuticals (NASDAQ:VRTXGet Rating) had its price objective raised by HC Wainwright from $275.00 to $300.00 in a report published on Friday, The Fly reports. They currently have a buy rating on the pharmaceutical company’s stock.

Several other research analysts also recently commented on the company. Wells Fargo & Company lifted their price target on Vertex Pharmaceuticals from $300.00 to $305.00 in a research report on Friday, May 6th. UBS Group boosted their price objective on Vertex Pharmaceuticals from $258.00 to $325.00 in a research report on Wednesday, April 13th. Maxim Group upgraded Vertex Pharmaceuticals from a hold rating to a buy rating and set a $325.00 price objective on the stock in a research report on Wednesday, June 1st. SVB Leerink started coverage on Vertex Pharmaceuticals in a research report on Monday, May 23rd. They set a market perform rating and a $265.00 price objective on the stock. Finally, Cowen boosted their price objective on Vertex Pharmaceuticals from $305.00 to $310.00 and gave the company an outperform rating in a research report on Monday, June 13th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $289.90.

Vertex Pharmaceuticals Stock Up 4.8 %

Shares of Vertex Pharmaceuticals stock opened at $288.03 on Friday. The stock has a 50-day simple moving average of $277.50 and a 200-day simple moving average of $260.63. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.75 and a quick ratio of 4.60. Vertex Pharmaceuticals has a 52-week low of $176.36 and a 52-week high of $296.84. The firm has a market cap of $73.67 billion, a price-to-earnings ratio of 23.28, a P/E/G ratio of 2.03 and a beta of 0.45.

Vertex Pharmaceuticals (NASDAQ:VRTXGet Rating) last issued its quarterly earnings results on Thursday, August 4th. The pharmaceutical company reported $3.60 EPS for the quarter, topping the consensus estimate of $3.12 by $0.48. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.13 billion. Vertex Pharmaceuticals had a return on equity of 32.56% and a net margin of 38.26%. The company’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 posted $2.80 EPS. On average, equities research analysts expect that Vertex Pharmaceuticals will post 12.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP David Altshuler sold 17,865 shares of the company’s stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $288.65, for a total transaction of $5,156,732.25. Following the transaction, the executive vice president now owns 36,077 shares of the company’s stock, valued at $10,413,626.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP David Altshuler sold 17,865 shares of the company’s stock in a transaction dated Tuesday, July 19th. The stock was sold at an average price of $288.65, for a total value of $5,156,732.25. Following the completion of the sale, the executive vice president now owns 36,077 shares in the company, valued at $10,413,626.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Reshma Kewalramani sold 11,689 shares of the company’s stock in a transaction dated Friday, June 24th. The shares were sold at an average price of $291.30, for a total value of $3,405,005.70. Following the completion of the sale, the chief executive officer now owns 111,153 shares of the company’s stock, valued at approximately $32,378,868.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 162,254 shares of company stock valued at $45,899,243. 0.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Several large investors have recently modified their holdings of VRTX. JJJ Advisors Inc. grew its holdings in shares of Vertex Pharmaceuticals by 101.5% during the fourth quarter. JJJ Advisors Inc. now owns 133 shares of the pharmaceutical company’s stock worth $29,000 after buying an additional 67 shares in the last quarter. Trustcore Financial Services LLC lifted its position in shares of Vertex Pharmaceuticals by 53.8% in the fourth quarter. Trustcore Financial Services LLC now owns 143 shares of the pharmaceutical company’s stock valued at $31,000 after buying an additional 50 shares during the last quarter. TFC Financial Management lifted its position in shares of Vertex Pharmaceuticals by 58.0% in the second quarter. TFC Financial Management now owns 109 shares of the pharmaceutical company’s stock valued at $31,000 after buying an additional 40 shares during the last quarter. Crewe Advisors LLC bought a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth approximately $32,000. Finally, Sittner & Nelson LLC increased its stake in shares of Vertex Pharmaceuticals by 66.7% during the first quarter. Sittner & Nelson LLC now owns 125 shares of the pharmaceutical company’s stock worth $33,000 after purchasing an additional 50 shares during the period. 89.84% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Company Profile

(Get Rating)

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.

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