Wells Fargo & Company Boosts Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target to $305.00

Vertex Pharmaceuticals (NASDAQ:VRTXGet Rating) had its target price raised by Wells Fargo & Company from $300.00 to $305.00 in a research report report published on Friday, The Fly reports.

Other equities analysts have also issued reports about the stock. Robert W. Baird lowered shares of Vertex Pharmaceuticals from an outperform rating to a neutral rating and set a $250.00 target price on the stock. in a research report on Friday. Zacks Investment Research lowered shares of Vertex Pharmaceuticals from a buy rating to a hold rating and set a $279.00 target price on the stock. in a research report on Monday, April 4th. StockNews.com assumed coverage on shares of Vertex Pharmaceuticals in a research report on Thursday, March 31st. They set a strong-buy rating on the stock. UBS Group raised their target price on shares of Vertex Pharmaceuticals from $258.00 to $325.00 in a research report on Wednesday, April 13th. Finally, JPMorgan Chase & Co. raised their target price on shares of Vertex Pharmaceuticals from $260.00 to $288.00 and gave the stock an overweight rating in a research report on Thursday, January 27th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of Buy and a consensus target price of $273.81.

Shares of Vertex Pharmaceuticals stock opened at $235.02 on Friday. The firm has a market capitalization of $60.06 billion, a P/E ratio of 24.74, a P/E/G ratio of 1.73 and a beta of 0.55. Vertex Pharmaceuticals has a 52 week low of $176.36 and a 52 week high of $292.75. The company has a quick ratio of 4.30, a current ratio of 4.46 and a debt-to-equity ratio of 0.05. The firm’s 50 day moving average is $260.93 and its two-hundred day moving average is $230.33.

Vertex Pharmaceuticals (NASDAQ:VRTXGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The pharmaceutical company reported $3.52 EPS for the quarter, beating the consensus estimate of $3.17 by $0.35. The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.07 billion. Vertex Pharmaceuticals had a net margin of 30.84% and a return on equity of 33.33%. The firm’s revenue was up 21.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.54 earnings per share. As a group, research analysts expect that Vertex Pharmaceuticals will post 12.73 earnings per share for the current fiscal year.

In related news, EVP Bastiano Sanna sold 562 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, April 4th. The stock was sold at an average price of $267.71, for a total transaction of $150,453.02. Following the completion of the sale, the executive vice president now owns 43,343 shares in the company, valued at approximately $11,603,354.53. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Stuart A. Arbuckle sold 306 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $263.98, for a total value of $80,777.88. Following the sale, the chief operating officer now owns 64,760 shares of the company’s stock, valued at approximately $17,095,344.80. The disclosure for this sale can be found here. Insiders have sold a total of 45,828 shares of company stock valued at $12,464,221 in the last ninety days. Corporate insiders own 0.40% of the company’s stock.

A number of institutional investors have recently bought and sold shares of VRTX. Concord Wealth Partners increased its position in Vertex Pharmaceuticals by 750.0% during the 4th quarter. Concord Wealth Partners now owns 119 shares of the pharmaceutical company’s stock worth $26,000 after purchasing an additional 105 shares in the last quarter. First PREMIER Bank purchased a new stake in Vertex Pharmaceuticals during the 4th quarter worth about $27,000. Hudock Inc. increased its position in Vertex Pharmaceuticals by 156.3% during the 3rd quarter. Hudock Inc. now owns 164 shares of the pharmaceutical company’s stock worth $29,000 after purchasing an additional 100 shares in the last quarter. Moors & Cabot Inc. purchased a new stake in Vertex Pharmaceuticals during the 3rd quarter worth about $29,000. Finally, JJJ Advisors Inc. grew its holdings in Vertex Pharmaceuticals by 101.5% in the 4th quarter. JJJ Advisors Inc. now owns 133 shares of the pharmaceutical company’s stock valued at $29,000 after buying an additional 67 shares during the period. Hedge funds and other institutional investors own 89.84% of the company’s stock.

Vertex Pharmaceuticals Company Profile (Get Rating)

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene; and TRIKAFTA for the treatment of patients with CF 6 years of age or older who have at least one F508del mutation.

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