Vertex Pharmaceuticals (NASDAQ:VRTX) Given New $586.00 Price Target at UBS Group

Vertex Pharmaceuticals (NASDAQ:VRTX) had its target price hoisted by stock analysts at UBS Group from $562.00 to $586.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the pharmaceutical company’s stock. UBS Group’s price target would suggest a potential upside of 17.77% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. StockNews.com cut shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. HC Wainwright reiterated a “buy” rating and issued a $600.00 target price on shares of Vertex Pharmaceuticals in a report on Monday, October 21st. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, July 26th. Bank of America lowered their target price on Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Finally, Raymond James reiterated a “market perform” rating on shares of Vertex Pharmaceuticals in a report on Thursday, October 10th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $494.38.

Vertex Pharmaceuticals Stock Up 5.2 %

Shares of NASDAQ:VRTX traded up $24.76 during midday trading on Tuesday, reaching $497.56. The company’s stock had a trading volume of 779,042 shares, compared to its average volume of 1,165,463. The firm has a 50 day moving average of $474.34 and a 200-day moving average of $466.02. The firm has a market capitalization of $128.42 billion, a P/E ratio of -245.10 and a beta of 0.39. Vertex Pharmaceuticals has a 12-month low of $341.90 and a 12-month high of $510.64. 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 (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.61 by $0.77. The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the company earned $3.67 EPS. On average, research analysts anticipate that Vertex Pharmaceuticals will post -2.04 earnings per share for the current year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $500.00, for a total transaction of $323,000.00. Following the sale, the director now directly owns 4,435 shares of the company’s stock, valued at $2,217,500. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CMO Carmen Bozic sold 2,280 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $476.75, for a total transaction of $1,086,990.00. Following the completion of the transaction, the chief marketing officer now owns 23,259 shares of the company’s stock, valued at approximately $11,088,728.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sangeeta N. Bhatia sold 646 shares of the 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 transaction, the director now directly owns 4,435 shares in the company, valued at $2,217,500. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,710 shares of company stock valued at $3,298,206 in the last ninety days. 0.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Vertex Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. Northwest Investment Counselors LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter valued at $25,000. Highline Wealth Partners LLC purchased a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter valued at $27,000. GHP Investment Advisors Inc. acquired a new position in shares of Vertex Pharmaceuticals in the 2nd quarter valued at $29,000. Stephens Consulting LLC acquired a new stake in shares of Vertex Pharmaceuticals in the second quarter valued at about $31,000. Finally, Founders Capital Management grew its holdings in shares of Vertex Pharmaceuticals by 50.0% in the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock valued at $35,000 after purchasing an additional 25 shares during the period. 90.96% of the stock is owned by institutional investors.

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.