Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTXGet Free Report) have earned an average rating of “Moderate Buy” from the twenty-five ratings firms that are covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $443.55.

VRTX has been the topic of several analyst reports. Evercore ISI raised Vertex Pharmaceuticals from an “in-line” rating to an “outperform” rating and set a $438.00 target price on the stock in a report on Thursday, April 11th. Royal Bank of Canada decreased their target price on shares of Vertex Pharmaceuticals from $424.00 to $421.00 and set a “sector perform” rating on the stock in a report on Tuesday, June 11th. Argus upped their price target on shares of Vertex Pharmaceuticals from $465.00 to $550.00 and gave the stock a “buy” rating in a report on Monday. Canaccord Genuity Group reissued a “sell” rating and issued a $371.00 price objective on shares of Vertex Pharmaceuticals in a research note on Friday, April 12th. Finally, Piper Sandler increased their price target on Vertex Pharmaceuticals from $450.00 to $456.00 and gave the company an “overweight” rating in a research note on Tuesday, May 7th.

Get Our Latest Report on Vertex Pharmaceuticals

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX opened at $467.28 on Friday. The firm has a 50-day moving average price of $434.19 and a two-hundred day moving average price of $420.86. Vertex Pharmaceuticals has a 12-month low of $335.82 and a 12-month high of $486.42. The company has a market capitalization of $120.58 billion, a P/E ratio of 30.32, a P/E/G ratio of 2.43 and a beta of 0.41. The company has a quick ratio of 3.29, a current ratio of 3.50 and a debt-to-equity ratio of 0.02.

Vertex Pharmaceuticals (NASDAQ:VRTXGet Free Report) last issued its quarterly earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.66 by $1.10. Vertex Pharmaceuticals had a return on equity of 23.08% and a net margin of 39.46%. The business had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same period in the previous year, the company posted $2.67 earnings per share. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. Analysts anticipate that Vertex Pharmaceuticals will post 15.22 earnings per share for the current year.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, CEO Reshma Kewalramani sold 1,565 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $457.00, for a total value of $715,205.00. Following the transaction, the chief executive officer now directly owns 121,374 shares in the company, valued at approximately $55,467,918. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Reshma Kewalramani sold 1,565 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $457.00, for a total transaction of $715,205.00. Following the completion of the sale, the chief executive officer now directly owns 121,374 shares of the company’s stock, valued at $55,467,918. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CMO Carmen Bozic sold 2,280 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $478.00, for a total transaction of $1,089,840.00. Following the completion of the transaction, the chief marketing officer now directly owns 32,379 shares in the company, valued at approximately $15,477,162. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,086 shares of company stock valued at $11,983,266. Company insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Several institutional investors have recently bought and sold shares of VRTX. Capital World Investors grew its stake in shares of Vertex Pharmaceuticals by 17.2% in the 1st quarter. Capital World Investors now owns 25,567,184 shares of the pharmaceutical company’s stock worth $10,687,339,000 after acquiring an additional 3,761,414 shares in the last quarter. Vanguard Group Inc. grew its position in Vertex Pharmaceuticals by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 22,676,518 shares of the pharmaceutical company’s stock worth $9,479,011,000 after purchasing an additional 394,338 shares in the last quarter. Capital Research Global Investors increased its stake in Vertex Pharmaceuticals by 61.0% in the 1st quarter. Capital Research Global Investors now owns 5,743,882 shares of the pharmaceutical company’s stock valued at $2,401,000,000 after buying an additional 2,176,218 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Vertex Pharmaceuticals by 21.2% during the 1st quarter. Jennison Associates LLC now owns 4,782,374 shares of the pharmaceutical company’s stock worth $1,999,080,000 after buying an additional 837,461 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Vertex Pharmaceuticals in the 4th quarter worth approximately $1,237,877,000. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for Vertex Pharmaceuticals (NASDAQ:VRTX)

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