Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-five analysts that are presently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and twenty-one have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $557.0870.

A number of equities research analysts have recently commented on the stock. Weiss Ratings lowered shares of Vertex Pharmaceuticals from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, June 30th. Royal Bank Of Canada boosted their target price on shares of Vertex Pharmaceuticals from $543.00 to $570.00 and gave the company an “outperform” rating in a report on Tuesday. Barclays upped their price target on shares of Vertex Pharmaceuticals from $607.00 to $615.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Wall Street Zen downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Sunday, June 28th. Finally, Maxim Group raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $575.00 price objective for the company in a research report on Wednesday, March 18th.

Insider Activity at Vertex Pharmaceuticals

In related news, Director Sangeeta N. Bhatia sold 318 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $423.73, for a total transaction of $134,746.14. Following the completion of the sale, the director owned 4,924 shares of the company’s stock, valued at $2,086,446.52. This trade represents a 6.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Duncan Mckechnie sold 1,541 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $519.00, for a total value of $799,779.00. Following the completion of the sale, the executive vice president owned 11,001 shares of the company’s stock, valued at approximately $5,709,519. The trade was a 12.29% 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. Insiders have sold 18,874 shares of company stock worth $8,707,966 over the last quarter. 0.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Community Financial Services Group LLC bought a new stake in Vertex Pharmaceuticals in the second quarter valued at $26,000. Motiv8 Investments LLC bought a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth about $26,000. Elevation Wealth Partners LLC boosted its position in shares of Vertex Pharmaceuticals by 103.7% during the 2nd quarter. Elevation Wealth Partners LLC now owns 55 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 28 shares in the last quarter. Swiss RE Ltd. acquired a new stake in shares of Vertex Pharmaceuticals in the 4th quarter valued at about $28,000. Finally, Eagle Bay Advisors LLC bought a new stake in Vertex Pharmaceuticals in the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Key Headlines Impacting Vertex Pharmaceuticals

Here are the key news stories impacting Vertex Pharmaceuticals this week:

• Positive Sentiment: Vertex’s $10 billion acquisition of Crinetics could accelerate growth beyond cystic fibrosis by adding a marketed endocrine drug and a late-stage pipeline candidate. Vertex (VRTX) Is Buying Crinetics For $10 Billion And Entering Endocrinology
• Positive Sentiment: The FDA’s expanded approval for CASGEVY in children as young as 2 years old strengthens Vertex’s gene-therapy franchise and could widen the product’s commercial reach. Vertex (VRTX) is One of the Best QQQ Stocks to Invest in
• Neutral Sentiment: Some reports note that investors are balancing the growth potential of the Crinetics deal against integration risk and the size of the cash outlay. Vertex’s Crinetics Deal Balances Growth with Integration Risk
• Neutral Sentiment: Recent executive stock sales were disclosed under pre-arranged 10b5-1 plans, which may create headline noise but do not necessarily signal a change in fundamentals. Ourania Tatsis Sells 1,500 Shares of Vertex Pharmaceuticals (NASDAQ:VRTX) Stock
• Neutral Sentiment: Analyst coverage remains broadly supportive, with most firms maintaining Buy ratings and high price targets, though one recent downgrade to Hold adds a bit of caution. Citi Remains a Buy on Vertex Pharmaceuticals (VRTX)

Vertex Pharmaceuticals Trading Down 0.4%

NASDAQ VRTX opened at $496.50 on Friday. Vertex Pharmaceuticals has a 12 month low of $362.50 and a 12 month high of $533.67. The firm has a market capitalization of $126.01 billion, a PE ratio of 29.45, a price-to-earnings-growth ratio of 2.13 and a beta of 0.29. The business’s 50-day moving average price is $455.88 and its two-hundred day moving average price is $458.14.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share for the quarter, beating analysts’ consensus estimates of $4.24 by $0.23. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter in the prior year, the firm posted $4.06 EPS. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, analysts forecast that Vertex Pharmaceuticals will post 17.06 earnings per share for the current fiscal year.

About Vertex Pharmaceuticals

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.