Analysts Set Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Target Price at $555.00

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) has received a consensus rating of “Moderate Buy” from the twenty-nine analysts that are currently covering the stock, Marketbeat reports. Six analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $555.00.

A number of equities analysts have commented on the stock. Oppenheimer lifted their price objective on shares of Vertex Pharmaceuticals from $540.00 to $600.00 and gave the stock an “outperform” rating in a report on Tuesday, March 10th. Jefferies Financial Group assumed coverage on shares of Vertex Pharmaceuticals in a report on Tuesday, March 10th. They issued a “buy” rating and a $580.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $590.00 price objective on shares of Vertex Pharmaceuticals in a report on Friday, February 13th. Truist Financial raised shares of Vertex Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, March 25th. Finally, Canaccord Genuity Group lifted their price objective on shares of Vertex Pharmaceuticals from $411.00 to $441.00 and gave the stock a “hold” rating in a report on Tuesday, February 17th.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 2,329 shares of Vertex Pharmaceuticals stock in a transaction on Friday, March 13th. The shares were sold at an average price of $481.79, for a total value of $1,122,088.91. Following the completion of the transaction, the chief marketing officer owned 35,405 shares of the company’s stock, valued at $17,057,774.95. The trade was a 6.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Mark E. Bunnage sold 2,021 shares of Vertex Pharmaceuticals stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $460.43, for a total transaction of $930,529.03. Following the completion of the transaction, the executive vice president directly owned 12,914 shares of the company’s stock, valued at approximately $5,945,993.02. This represents a 13.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 80,431 shares of company stock valued at $37,875,167 over the last quarter. Insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Vertex Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the company. Harbor Investment Advisory LLC boosted its holdings in shares of Vertex Pharmaceuticals by 27.9% during the first quarter. Harbor Investment Advisory LLC now owns 1,399 shares of the pharmaceutical company’s stock valued at $625,000 after acquiring an additional 305 shares during the period. Eagle Wealth Advisors LLC boosted its holdings in shares of Vertex Pharmaceuticals by 13.4% during the first quarter. Eagle Wealth Advisors LLC now owns 812 shares of the pharmaceutical company’s stock valued at $363,000 after acquiring an additional 96 shares during the period. Premier Path Wealth Partners LLC boosted its holdings in shares of Vertex Pharmaceuticals by 3.4% during the first quarter. Premier Path Wealth Partners LLC now owns 1,870 shares of the pharmaceutical company’s stock valued at $835,000 after acquiring an additional 62 shares during the period. Mayflower Financial Advisors LLC boosted its holdings in shares of Vertex Pharmaceuticals by 24.4% during the first quarter. Mayflower Financial Advisors LLC now owns 1,751 shares of the pharmaceutical company’s stock valued at $782,000 after acquiring an additional 343 shares during the period. Finally, Moss Adams Wealth Advisors LLC boosted its holdings in shares of Vertex Pharmaceuticals by 12.9% during the first quarter. Moss Adams Wealth Advisors LLC now owns 957 shares of the pharmaceutical company’s stock valued at $427,000 after acquiring an additional 109 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Down 0.6%

Shares of NASDAQ:VRTX opened at $435.10 on Tuesday. The company has a fifty day simple moving average of $459.07 and a 200 day simple moving average of $448.37. The firm has a market cap of $110.67 billion, a PE ratio of 28.38, a price-to-earnings-growth ratio of 1.95 and a beta of 0.36. Vertex Pharmaceuticals has a 12-month low of $362.50 and a 12-month high of $510.77.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Thursday, February 12th. The pharmaceutical company reported $5.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.05 by ($0.02). The company had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.18 billion. Vertex Pharmaceuticals had a return on equity of 24.30% and a net margin of 32.94%.The firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the firm posted $3.98 EPS. As a group, equities research analysts forecast that Vertex Pharmaceuticals will post 16.77 EPS for the current fiscal year.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.