Vertex Pharmaceuticals (NASDAQ:VRTX) Rating Increased to Strong-Buy at StockNews.com

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "buy" rating to a "strong-buy" rating in a report issued on Friday.

Other equities research analysts have also issued reports about the stock. Maxim Group lowered shares of Vertex Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Wednesday, January 31st. JPMorgan Chase & Co. upped their price objective on shares of Vertex Pharmaceuticals from $390.00 to $438.00 and gave the company an "overweight" rating in a research note on Thursday, February 1st. Truist Financial increased their target price on shares of Vertex Pharmaceuticals from $456.00 to $508.00 and gave the stock a "buy" rating in a research note on Wednesday, January 31st. Sanford C. Bernstein lowered shares of Vertex Pharmaceuticals from an "outperform" rating to a "market perform" rating in a research note on Friday, February 2nd. Finally, Evercore ISI raised shares of Vertex Pharmaceuticals from an "in-line" rating to an "outperform" rating and set a $438.00 target price on the stock in a research note on Thursday. Three research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $420.33.

Vertex Pharmaceuticals Trading Down 0.9 %

NASDAQ VRTX traded down $3.68 on Friday, hitting $396.55. The company's stock had a trading volume of 1,187,932 shares, compared to its average volume of 1,260,359. 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 has a 1-year low of $316.43 and a 1-year high of $448.40. The company's 50-day moving average is $416.35 and its 200 day moving average is $395.51. The firm has a market cap of $102.49 billion, a PE ratio of 28.55, a PEG ratio of 2.16 and a beta of 0.35.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings data on Monday, February 5th. The pharmaceutical company reported $4.20 EPS for the quarter, beating analysts' consensus estimates of $3.85 by $0.35. Vertex Pharmaceuticals had a net margin of 36.68% and a return on equity of 21.91%. The company had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period in the prior year, the firm posted $3.33 EPS. As a group, analysts predict that Vertex Pharmaceuticals will post 14.95 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Amit Sachdev sold 3,222 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $420.24, for a total value of $1,354,013.28. Following the completion of the sale, the executive vice president now owns 74,364 shares in the company, valued at $31,250,727.36. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Amit Sachdev sold 3,222 shares of the firm'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 $1,354,013.28. Following the completion of the sale, the executive vice president now owns 74,364 shares in the company, valued at $31,250,727.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Stuart A. Arbuckle sold 4,295 shares of the firm's stock in a transaction dated Monday, February 12th. The stock was 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 approximately $31,819,732.32. The disclosure for this sale can be found here. Insiders sold a total of 12,381 shares of company stock worth $5,203,249 over the last quarter. Insiders own 0.40% of the company's stock.

Institutional Trading of Vertex Pharmaceuticals

Large investors have recently added to or reduced their stakes in the stock. LSV Asset Management boosted its holdings in Vertex Pharmaceuticals by 206.3% in the 1st quarter. LSV Asset Management now owns 4,751 shares of the pharmaceutical company's stock valued at $1,240,000 after purchasing an additional 3,200 shares during the period. Synovus Financial Corp boosted its stake in Vertex Pharmaceuticals by 9.6% during the first quarter. Synovus Financial Corp now owns 6,737 shares of the pharmaceutical company's stock valued at $1,759,000 after buying an additional 590 shares during the period. Cibc World Market Inc. raised its holdings in shares of Vertex Pharmaceuticals by 69.4% in the 1st quarter. Cibc World Market Inc. now owns 6,622 shares of the pharmaceutical company's stock valued at $1,728,000 after acquiring an additional 2,713 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Vertex Pharmaceuticals by 28.4% during the first quarter. Sei Investments Co. now owns 44,090 shares of the pharmaceutical company's stock worth $11,756,000 after purchasing an additional 9,761 shares in the last quarter. Finally, Cetera Investment Advisers raised its stake in Vertex Pharmaceuticals by 4.0% in the first quarter. Cetera Investment Advisers now owns 14,114 shares of the pharmaceutical company's stock valued at $3,683,000 after purchasing an additional 544 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company's stock.

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.

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