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

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) has earned an average rating of “Moderate Buy” from the twenty-six brokerages that are currently covering the company, MarketBeat Ratings reports. Ten equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $506.70.

Several analysts have recently issued reports on VRTX shares. Jefferies Financial Group upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and upped their price objective for the company from $500.00 to $550.00 in a research report on Monday, December 9th. Morgan Stanley increased their target price on Vertex Pharmaceuticals from $450.00 to $459.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 11th. Cantor Fitzgerald reiterated an “overweight” rating and set a $480.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Royal Bank of Canada increased their target price on Vertex Pharmaceuticals from $407.00 to $408.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 20th. Finally, Truist Financial increased their target price on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th.

Insider Activity

In other news, EVP David Altshuler sold 3,231 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $500.00, for a total value of $1,615,500.00. Following the completion of the sale, the executive vice president now owns 26,512 shares in the company, valued at approximately $13,256,000. This trade represents a 10.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ourania Tatsis sold 244 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total value of $111,034.64. Following the completion of the sale, the executive vice president now owns 67,695 shares of the company’s stock, valued at approximately $30,805,286.70. This trade represents a 0.36 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,315 shares of company stock worth $2,121,012. 0.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Vertex Pharmaceuticals

A number of hedge funds have recently bought and sold shares of VRTX. Dunhill Financial LLC grew its stake in Vertex Pharmaceuticals by 70.6% during the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 24 shares in the last quarter. Brown Lisle Cummings Inc. acquired a new stake in Vertex Pharmaceuticals during the 4th quarter valued at approximately $30,000. Legacy Investment Solutions LLC bought a new position in Vertex Pharmaceuticals during the 3rd quarter worth approximately $33,000. Truvestments Capital LLC bought a new position in Vertex Pharmaceuticals during the 3rd quarter worth approximately $35,000. Finally, Sugar Maple Asset Management LLC bought a new position in Vertex Pharmaceuticals during the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Down 1.4 %

VRTX opened at $503.20 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69. Vertex Pharmaceuticals has a one year low of $377.85 and a one year high of $519.88. The business’s fifty day moving average is $467.89 and its two-hundred day moving average is $462.49. The company has a market cap of $129.22 billion, a price-to-earnings ratio of -228.73, a PEG ratio of 2.11 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. Analysts anticipate that Vertex Pharmaceuticals will post 15.63 EPS for the current fiscal year.

About Vertex Pharmaceuticals

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.