Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target Cut to $415.00 by Analysts at Royal Bank Of Canada

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price objective dropped by stock analysts at Royal Bank Of Canada from $423.00 to $415.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “sector perform” rating on the pharmaceutical company’s stock. Royal Bank Of Canada’s price target indicates a potential downside of 3.57% from the company’s current price.

A number of other equities research analysts have also weighed in on VRTX. Wall Street Zen lowered shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 22nd. Cantor Fitzgerald cut their price target on Vertex Pharmaceuticals from $535.00 to $485.00 and set an “overweight” rating for the company in a report on Tuesday, August 5th. BMO Capital Markets set a $530.00 price objective on shares of Vertex Pharmaceuticals and gave the stock an “outperform” rating in a research note on Tuesday, August 5th. Scotiabank dropped their price objective on shares of Vertex Pharmaceuticals from $442.00 to $438.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 5th. Finally, Raymond James Financial began coverage on Vertex Pharmaceuticals in a research report on Tuesday, September 2nd. They set a “market perform” rating for the company. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $489.45.

Vertex Pharmaceuticals Stock Up 1.0%

Shares of NASDAQ:VRTX traded up $4.37 on Tuesday, hitting $430.37. The company had a trading volume of 845,254 shares, compared to its average volume of 1,612,401. The firm’s 50-day simple moving average is $402.45 and its two-hundred day simple moving average is $431.13. Vertex Pharmaceuticals has a 1 year low of $362.50 and a 1 year high of $519.88. The firm has a market capitalization of $110.34 billion, a price-to-earnings ratio of 30.67 and a beta of 0.43.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, November 3rd. The pharmaceutical company reported $4.80 EPS for the quarter, beating the consensus estimate of $4.58 by $0.22. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The business had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.05 billion. During the same quarter last year, the firm posted $4.38 earnings per share. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Vertex Pharmaceuticals will post 15.63 EPS for the current year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs purchased 5,000 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, August 6th. The stock was bought at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the acquisition, the director owned 45,000 shares of the company’s stock, valued at $17,535,600. This trade represents a 12.50% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is currently owned by company insiders.

Institutional Trading of Vertex Pharmaceuticals

Several large investors have recently made changes to their positions in the company. Mutual Advisors LLC grew its stake in shares of Vertex Pharmaceuticals by 16.7% in the 3rd quarter. Mutual Advisors LLC now owns 3,822 shares of the pharmaceutical company’s stock valued at $1,615,000 after buying an additional 547 shares during the period. Transcend Capital Advisors LLC boosted its position in Vertex Pharmaceuticals by 47.5% in the 3rd quarter. Transcend Capital Advisors LLC now owns 2,572 shares of the pharmaceutical company’s stock valued at $1,007,000 after buying an additional 828 shares during the period. Independent Advisor Alliance boosted its holdings in Vertex Pharmaceuticals by 10.9% in the third quarter. Independent Advisor Alliance now owns 3,226 shares of the pharmaceutical company’s stock valued at $1,263,000 after purchasing an additional 317 shares during the period. Columbia Asset Management boosted its stake in shares of Vertex Pharmaceuticals by 11.0% in the 3rd quarter. Columbia Asset Management now owns 553 shares of the pharmaceutical company’s stock valued at $217,000 after buying an additional 55 shares during the period. Finally, Everhart Financial Group Inc. lifted its stake in Vertex Pharmaceuticals by 11.0% in the third quarter. Everhart Financial Group Inc. now owns 2,088 shares of the pharmaceutical company’s stock worth $818,000 after acquiring an additional 207 shares during the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

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.