Vertex Pharmaceuticals' (VRTX) "Hold" Rating Reiterated at Needham & Company LLC

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report)'s stock had its "hold" rating reiterated by research analysts at Needham & Company LLC in a report issued on Tuesday, Benzinga reports.

A number of other analysts have also weighed in on the stock. Wolfe Research assumed coverage on shares of Vertex Pharmaceuticals in a research note on Thursday, February 15th. They issued an "outperform" rating and a $515.00 price objective for the company. Guggenheim upped their price objective on Vertex Pharmaceuticals from $445.00 to $450.00 and gave the company a "buy" rating in a research report on Thursday, April 18th. Robert W. Baird downgraded Vertex Pharmaceuticals from a "neutral" rating to an "underperform" rating and set a $325.00 target price for the company. in a research report on Wednesday, January 31st. Cantor Fitzgerald restated an "overweight" rating and issued a $440.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, February 20th. Finally, Sanford C. Bernstein lowered shares of Vertex Pharmaceuticals from an "outperform" rating to a "market perform" rating in a report on Friday, February 2nd. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $432.18.

Vertex Pharmaceuticals Trading Up 1.9 %

NASDAQ VRTX traded up $7.74 during trading hours on Tuesday, hitting $410.24. 1,614,025 shares of the company were exchanged, compared to its average volume of 1,230,101. The stock has a market cap of $106.03 billion, a PE ratio of 29.53, a price-to-earnings-growth ratio of 1.89 and a beta of 0.39. Vertex Pharmaceuticals has a 52 week low of $320.01 and a 52 week high of $448.40. The stock has a 50-day moving average price of $408.02 and a 200 day moving average price of $400.75. The company has a quick ratio of 3.78, a current ratio of 3.99 and a debt-to-equity ratio of 0.02.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get 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, topping analysts' consensus estimates of $3.66 by $1.10. Vertex Pharmaceuticals had a return on equity of 21.91% and a net margin of 36.68%. The company had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same period last year, the company earned $2.67 earnings per share. Vertex Pharmaceuticals's revenue was up 13.3% on a year-over-year basis. Analysts forecast that Vertex Pharmaceuticals will post 14.95 earnings per share for the current fiscal year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, COO Stuart A. Arbuckle sold 4,295 shares of the company's stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $420.24, for a total transaction of $1,804,930.80. Following the transaction, the chief operating officer now owns 75,718 shares in the company, valued at $31,819,732.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Ourania Tatsis sold 354 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $425.70, for a total value of $150,697.80. Following the transaction, the executive vice president now owns 55,804 shares in the company, valued at approximately $23,755,762.80. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Stuart A. Arbuckle sold 4,295 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $420.24, for a total transaction of $1,804,930.80. Following the sale, the chief operating officer now owns 75,718 shares of the company's stock, valued at $31,819,732.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,381 shares of company stock worth $5,203,249. 0.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Venturi Wealth Management LLC lifted its holdings in shares of Vertex Pharmaceuticals by 1.1% in the 4th quarter. Venturi Wealth Management LLC now owns 2,293 shares of the pharmaceutical company's stock valued at $933,000 after buying an additional 24 shares during the period. Nicholas Hoffman & Company LLC. boosted its position in Vertex Pharmaceuticals by 3.9% in the 4th quarter. Nicholas Hoffman & Company LLC. now owns 636 shares of the pharmaceutical company's stock worth $259,000 after purchasing an additional 24 shares in the last quarter. Hohimer Wealth Management LLC boosted its position in Vertex Pharmaceuticals by 0.8% in the 4th quarter. Hohimer Wealth Management LLC now owns 2,932 shares of the pharmaceutical company's stock worth $1,193,000 after purchasing an additional 24 shares in the last quarter. Johnson Financial Group Inc. grew its stake in shares of Vertex Pharmaceuticals by 2.5% during the 4th quarter. Johnson Financial Group Inc. now owns 1,001 shares of the pharmaceutical company's stock worth $407,000 after purchasing an additional 24 shares during the period. Finally, Arthur M. Cohen & Associates LLC increased its holdings in shares of Vertex Pharmaceuticals by 3.2% during the 4th quarter. Arthur M. Cohen & Associates LLC now owns 800 shares of the pharmaceutical company's stock valued at $326,000 after purchasing an additional 25 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

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.