Vertex Pharmaceuticals (NASDAQ:VRTX) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Vertex Pharmaceuticals (NASDAQ:VRTX) from a buy rating to a strong-buy rating in a report released on Friday.

A number of other equities analysts have also recently issued reports on VRTX. Evercore ISI upgraded Vertex Pharmaceuticals from an in-line rating to an outperform rating and set a $438.00 target price for the company in a report on Thursday, April 11th. Wells Fargo & Company upped their price target on Vertex Pharmaceuticals from $500.00 to $540.00 and gave the stock an overweight rating in a research report on Tuesday, February 6th. Canaccord Genuity Group downgraded shares of Vertex Pharmaceuticals from a hold rating to a sell rating and lifted their price objective for the company from $332.00 to $379.00 in a report on Wednesday, January 24th. William Blair reiterated an outperform rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 6th. Finally, Cantor Fitzgerald restated an overweight rating and set a $440.00 price objective on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 20th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $424.62.

Vertex Pharmaceuticals Stock Up 0.2 %

NASDAQ:VRTX opened at $397.36 on Friday. Vertex Pharmaceuticals has a 1 year low of $316.43 and a 1 year high of $448.40. The stock has a 50-day moving average price of $415.72 and a two-hundred day moving average price of $396.46. The stock has a market cap of $102.70 billion, a price-to-earnings ratio of 28.61, a PEG ratio of 2.16 and a beta of 0.35. The company has a current ratio of 3.99, a quick ratio of 3.78 and a debt-to-equity ratio of 0.02.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, February 5th. The pharmaceutical company reported $4.20 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the previous year, the firm posted $3.33 earnings per share. As a group, equities analysts expect that Vertex Pharmaceuticals will post 14.95 earnings per share for the current year.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 2,656 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $419.51, for a total value of $1,114,218.56. Following the transaction, the chairman now directly owns 27,644 shares of the company’s stock, valued at approximately $11,596,934.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, COO Stuart A. Arbuckle sold 4,295 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $420.24, for a total value of $1,804,930.80. Following the completion of the sale, the chief operating officer now directly owns 75,718 shares in the company, valued at $31,819,732.32. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Jeffrey M. Leiden sold 2,656 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $419.51, for a total value of $1,114,218.56. Following the transaction, the chairman now owns 27,644 shares in the company, valued at approximately $11,596,934.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,381 shares of company stock worth $5,203,249. Company insiders own 0.20% of the company’s stock.

Institutional Trading of Vertex Pharmaceuticals

Several large investors have recently modified their holdings of the stock. LSV Asset Management lifted its position in Vertex Pharmaceuticals by 206.3% during the first quarter. LSV Asset Management now owns 4,751 shares of the pharmaceutical company’s stock worth $1,240,000 after purchasing an additional 3,200 shares during the period. Synovus Financial Corp raised its position in shares of 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 buying an additional 590 shares in the last quarter. Cibc World Market Inc. lifted its holdings in shares of Vertex Pharmaceuticals by 69.4% during the 1st quarter. Cibc World Market Inc. now owns 6,622 shares of the pharmaceutical company’s stock worth $1,728,000 after acquiring an additional 2,713 shares during the period. Sei Investments Co. boosted its position in shares of Vertex Pharmaceuticals by 28.4% during the 1st quarter. Sei Investments Co. now owns 44,090 shares of the pharmaceutical company’s stock worth $11,756,000 after acquiring an additional 9,761 shares in the last quarter. Finally, Cetera Investment Advisers increased its stake in Vertex Pharmaceuticals by 4.0% in the first quarter. Cetera Investment Advisers now owns 14,114 shares of the pharmaceutical company’s stock valued at $3,683,000 after acquiring an additional 544 shares during the last quarter. 90.96% 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 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.