Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target Raised to $520.00

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price objective hoisted by Truist Financial from $460.00 to $520.00 in a report released on Tuesday,Benzinga reports. The firm currently has a buy rating on the pharmaceutical company’s stock.

A number of other analysts also recently weighed in on VRTX. UBS Group increased their price target on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Stifel Nicolaus increased their price target on Vertex Pharmaceuticals from $490.00 to $494.00 and gave the stock a “hold” rating in a report on Monday, December 16th. Wells Fargo & Company downgraded Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 price target for the company. in a report on Thursday, January 30th. Barclays increased their price target on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, HC Wainwright restated a “buy” rating and issued a $550.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday. Ten equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $505.96.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX opened at $462.58 on Tuesday. The company has a market capitalization of $119.13 billion, a price-to-earnings ratio of -232.45, a PEG ratio of 1.80 and a beta of 0.41. Vertex Pharmaceuticals has a twelve month low of $377.85 and a twelve month high of $519.88. The stock has a fifty day simple moving average of $435.70 and a 200 day simple moving average of $461.79. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. Sell-side analysts expect that Vertex Pharmaceuticals will post -1.94 EPS for the current year.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 310 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $459.83, for a total transaction of $142,547.30. Following the transaction, the executive vice president now owns 64,021 shares of the company’s stock, valued at $29,438,776.43. This trade represents a 0.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Vertex Pharmaceuticals

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Vertex Pharmaceuticals by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 23,258,288 shares of the pharmaceutical company’s stock worth $9,366,113,000 after buying an additional 98,654 shares in the last quarter. State Street Corp raised its holdings in shares of Vertex Pharmaceuticals by 0.8% in the 3rd quarter. State Street Corp now owns 11,816,249 shares of the pharmaceutical company’s stock worth $5,495,501,000 after purchasing an additional 90,173 shares during the period. Wellington Management Group LLP raised its holdings in shares of Vertex Pharmaceuticals by 23.3% in the 4th quarter. Wellington Management Group LLP now owns 5,916,084 shares of the pharmaceutical company’s stock worth $2,382,407,000 after purchasing an additional 1,117,214 shares during the period. Jennison Associates LLC raised its holdings in shares of Vertex Pharmaceuticals by 18.1% in the 3rd quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company’s stock worth $2,581,373,000 after purchasing an additional 851,054 shares during the period. Finally, Loomis Sayles & Co. L P raised its holdings in shares of Vertex Pharmaceuticals by 23.0% in the 4th quarter. Loomis Sayles & Co. L P now owns 3,772,789 shares of the pharmaceutical company’s stock worth $1,519,302,000 after purchasing an additional 704,575 shares during the period. 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.