Analysts Set Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Target Price at $555.17

Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) have earned an average recommendation of “Moderate Buy” from the twenty-six ratings firms that are covering the company, Marketbeat reports. Five analysts have rated the stock with a hold recommendation, twenty have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $555.1739.

A number of research firms recently weighed in on VRTX. Bank of America upped their price target on Vertex Pharmaceuticals from $571.00 to $598.00 and gave the stock a “buy” rating in a research note on Tuesday, March 10th. Morgan Stanley upped their price target on Vertex Pharmaceuticals from $612.00 to $616.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. UBS Group upped their price target on Vertex Pharmaceuticals from $535.00 to $545.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Scotiabank upped their price target on Vertex Pharmaceuticals from $495.00 to $558.00 and gave the stock an “outperform” rating in a research note on Friday, February 13th. Finally, Citigroup upped their price target on Vertex Pharmaceuticals from $575.00 to $585.00 and gave the stock a “buy” rating in a research note on Tuesday, March 10th.

Insider Transactions at Vertex Pharmaceuticals

In other news, CAO Kristen Ambrose sold 223 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $486.35, for a total value of $108,456.05. Following the completion of the sale, the chief accounting officer directly owned 6,981 shares of the company’s stock, valued at $3,395,209.35. This represents a 3.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CMO Carmen Bozic sold 6,988 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $450.00, for a total value of $3,144,600.00. Following the completion of the sale, the chief marketing officer directly owned 26,088 shares of the company’s stock, valued at approximately $11,739,600. This trade represents a 21.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 79,802 shares of company stock valued at $37,402,568. Corporate insiders own 0.20% of the company’s stock.

Institutional Trading of Vertex Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Vertex Pharmaceuticals by 3.8% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 544,978 shares of the pharmaceutical company’s stock valued at $213,435,000 after acquiring an additional 20,053 shares in the last quarter. Danske Bank A S bought a new position in shares of Vertex Pharmaceuticals in the third quarter valued at approximately $64,417,000. Leuthold Group LLC bought a new position in shares of Vertex Pharmaceuticals in the third quarter valued at approximately $5,030,000. Legacy Capital Group California Inc. bought a new position in Vertex Pharmaceuticals during the third quarter valued at $956,000. Finally, ING Groep NV bought a new position in Vertex Pharmaceuticals during the third quarter valued at $4,695,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Stock Performance

VRTX stock opened at $436.58 on Friday. The stock’s 50 day simple moving average is $445.08 and its 200 day simple moving average is $450.71. Vertex Pharmaceuticals has a fifty-two week low of $362.50 and a fifty-two week high of $507.92. The company has a market cap of $110.80 billion, a P/E ratio of 25.89, a price-to-earnings-growth ratio of 1.87 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share for the quarter, topping analysts’ consensus estimates of $4.24 by $0.23. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same period in the prior year, the business earned $4.06 EPS. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. Equities analysts predict that Vertex Pharmaceuticals will post 16.97 earnings per share for the current 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.