Vertex Pharmaceuticals (NASDAQ:VRTX) Given New $456.00 Price Target at Piper Sandler

Vertex Pharmaceuticals (NASDAQ:VRTX) had its target price lifted by research analysts at Piper Sandler from $450.00 to $456.00 in a report released on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the pharmaceutical company’s stock. Piper Sandler’s price target suggests a potential upside of 13.29% from the stock’s previous close.

VRTX has been the subject of a number of other reports. Guggenheim raised their target price on Vertex Pharmaceuticals from $445.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Royal Bank of Canada raised their target price on Vertex Pharmaceuticals from $397.00 to $420.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 6th. JPMorgan Chase & Co. lifted their price objective on Vertex Pharmaceuticals from $390.00 to $438.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. HC Wainwright reiterated a “buy” rating and issued a $462.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday. Finally, Truist Financial lifted their price objective on Vertex Pharmaceuticals from $456.00 to $508.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $432.00.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ:VRTX opened at $402.50 on Tuesday. Vertex Pharmaceuticals has a twelve month low of $320.01 and a twelve month high of $448.40. The firm has a market cap of $104.03 billion, a PE ratio of 28.98, a price-to-earnings-growth ratio of 1.89 and a beta of 0.39. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.78 and a current ratio of 3.99. The business has a fifty day moving average of $408.44 and a 200-day moving average of $400.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share for the quarter, beating analysts’ consensus estimates of $3.61 by $1.15. Vertex Pharmaceuticals had a return on equity of 21.91% and a net margin of 36.68%. The company had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same period last year, the company posted $2.67 earnings per share. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. On average, equities research analysts predict that Vertex Pharmaceuticals will post 14.95 EPS for the current fiscal year.

Insider Activity

In other news, EVP Amit Sachdev sold 3,222 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, February 12th. The stock was 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 approximately $31,250,727.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Ourania Tatsis sold 354 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $425.70, for a total transaction of $150,697.80. Following the transaction, the executive vice president now owns 55,804 shares in the company, valued at approximately $23,755,762.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Amit Sachdev sold 3,222 shares of Vertex Pharmaceuticals stock in a transaction dated 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 transaction, 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 12,381 shares of company stock worth $5,203,249 in the last 90 days. Corporate insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Vertex Pharmaceuticals

Several institutional investors have recently modified their holdings of VRTX. Venturi Wealth Management LLC raised its position in Vertex Pharmaceuticals by 1.1% in the 4th quarter. Venturi Wealth Management LLC now owns 2,293 shares of the pharmaceutical company’s stock valued at $933,000 after buying an additional 24 shares during the last quarter. Nicholas Hoffman & Company LLC. raised its position in Vertex Pharmaceuticals by 3.9% in the 4th quarter. Nicholas Hoffman & Company LLC. now owns 636 shares of the pharmaceutical company’s stock valued at $259,000 after buying an additional 24 shares during the last quarter. Hohimer Wealth Management LLC raised its position in Vertex Pharmaceuticals by 0.8% in the 4th quarter. Hohimer Wealth Management LLC now owns 2,932 shares of the pharmaceutical company’s stock valued at $1,193,000 after buying an additional 24 shares during the last quarter. Johnson Financial Group Inc. raised its position in Vertex Pharmaceuticals by 2.5% in the 4th quarter. Johnson Financial Group Inc. now owns 1,001 shares of the pharmaceutical company’s stock valued at $407,000 after buying an additional 24 shares during the last quarter. Finally, Arthur M. Cohen & Associates LLC raised its position in Vertex Pharmaceuticals by 3.2% in the 4th quarter. Arthur M. Cohen & Associates LLC now owns 800 shares of the pharmaceutical company’s stock valued at $326,000 after buying an additional 25 shares during the last quarter. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Company Profile

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.