Vertex Pharmaceuticals (NASDAQ:VRTX) Given Buy Rating at HC Wainwright

Vertex Pharmaceuticals (NASDAQ:VRTX)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research note issued on Monday, Benzinga reports. They currently have a $600.00 price objective on the pharmaceutical company’s stock. HC Wainwright’s price objective would suggest a potential upside of 24.22% from the stock’s previous close.

Several other analysts also recently issued reports on VRTX. Bank of America reduced their price objective on Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Barclays cut shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $472.00 to $509.00 in a research note on Monday, August 5th. Royal Bank of Canada cut their price objective on shares of Vertex Pharmaceuticals from $431.00 to $425.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. Guggenheim raised their target price on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Raymond James reiterated a “market perform” rating on shares of Vertex Pharmaceuticals in a report on Thursday, October 10th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $492.92.

Vertex Pharmaceuticals Trading Down 3.2 %

Shares of VRTX stock opened at $483.00 on Monday. The stock has a market cap of $124.66 billion, a P/E ratio of -237.93 and a beta of 0.40. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 0.02. Vertex Pharmaceuticals has a fifty-two week low of $341.90 and a fifty-two week high of $510.64. The business has a fifty day simple moving average of $475.21 and a 200-day simple moving average of $460.23.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The business had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same period last year, the business earned $3.53 earnings per share. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, analysts forecast that Vertex Pharmaceuticals will post -2.11 earnings per share for the current fiscal year.

Insider Transactions at Vertex Pharmaceuticals

In related news, CMO Carmen Bozic sold 2,280 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $488.46, for a total transaction of $1,113,688.80. Following the transaction, the chief marketing officer now directly owns 25,539 shares of the company’s stock, valued at approximately $12,474,779.94. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CMO Carmen Bozic sold 2,280 shares of Vertex Pharmaceuticals stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $488.46, for a total transaction of $1,113,688.80. Following the sale, the chief marketing officer now owns 25,539 shares of the company’s stock, valued at $12,474,779.94. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Sangeeta N. Bhatia sold 646 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $500.00, for a total transaction of $323,000.00. Following the completion of the transaction, the director now owns 4,435 shares in the company, valued at $2,217,500. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,285 shares of company stock valued at $7,101,755 over the last quarter. Company insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Hedge funds have recently bought and sold shares of the business. RFG Advisory LLC boosted its stake in shares of Vertex Pharmaceuticals by 30.5% during the 1st quarter. RFG Advisory LLC now owns 1,415 shares of the pharmaceutical company’s stock valued at $591,000 after buying an additional 331 shares during the last quarter. AdvisorNet Financial Inc grew its holdings in Vertex Pharmaceuticals by 4.7% during the 1st quarter. AdvisorNet Financial Inc now owns 1,186 shares of the pharmaceutical company’s stock worth $496,000 after acquiring an additional 53 shares in the last quarter. Riverview Trust Co bought a new stake in shares of Vertex Pharmaceuticals in the 1st quarter worth about $81,000. Dynamic Advisor Solutions LLC raised its stake in shares of Vertex Pharmaceuticals by 143.5% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 5,706 shares of the pharmaceutical company’s stock valued at $2,385,000 after purchasing an additional 3,363 shares in the last quarter. Finally, Security National Bank bought a new position in shares of Vertex Pharmaceuticals during the first quarter worth about $125,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Company Profile

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.