Vertex Pharmaceuticals (NASDAQ:VRTX) Upgraded at StockNews.com

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

A number of other equities research analysts also recently weighed in on the company. JPMorgan Chase & Co. lifted their target price on Vertex Pharmaceuticals from $390.00 to $438.00 and gave the stock an "overweight" rating in a research report on Thursday, February 1st. Canaccord Genuity Group restated a "sell" rating and issued a $371.00 target price on shares of Vertex Pharmaceuticals in a research note on Friday, April 12th. UBS Group decreased their price target on shares of Vertex Pharmaceuticals from $498.00 to $466.00 and set a "buy" rating on the stock in a research note on Wednesday, April 17th. Guggenheim raised their price objective on shares of Vertex Pharmaceuticals from $445.00 to $450.00 and gave the stock a "buy" rating in a report on Thursday, April 18th. Finally, Robert W. Baird cut shares of Vertex Pharmaceuticals from a "neutral" rating to an "underperform" rating and set a $325.00 target price on the stock. in a research note on Wednesday, January 31st. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $429.45.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ VRTX traded up $0.92 during trading hours on Friday, hitting $401.08. 1,062,883 shares of the company's stock were exchanged, compared to its average volume of 1,222,911. The stock has a market capitalization of $103.66 billion, a price-to-earnings ratio of 28.88, a PEG ratio of 1.89 and a beta of 0.39. The company's 50-day moving average price is $409.64 and its 200-day moving average price is $399.55. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.99 and a quick ratio of 3.78. Vertex Pharmaceuticals has a 1-year low of $320.01 and a 1-year high of $448.40.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings data on Monday, February 5th. The pharmaceutical company reported $4.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.85 by $0.35. Vertex Pharmaceuticals had a net margin of 36.68% and a return on equity of 21.91%. The business had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter last year, the company posted $3.33 earnings per share. On average, sell-side analysts expect that Vertex Pharmaceuticals will post 14.95 earnings per share for the current fiscal year.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, COO Stuart A. Arbuckle sold 4,295 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $420.24, for a total value of $1,804,930.80. Following the completion of the sale, the chief operating officer now directly owns 75,718 shares in the company, valued at $31,819,732.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Stuart A. Arbuckle sold 4,295 shares of the stock in a transaction 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 completion of the sale, the chief operating officer now owns 75,718 shares of the company's stock, valued at $31,819,732.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Amit Sachdev sold 3,222 shares of the firm's stock in a transaction on Monday, February 12th. The stock was sold at an average price of $420.24, for a total transaction of $1,354,013.28. Following the sale, the executive vice president now owns 74,364 shares in the company, valued at $31,250,727.36. The disclosure for this sale can be found here. Insiders have sold a total of 12,381 shares of company stock valued at $5,203,249 over the last three months. 0.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Capital World Investors grew its position in Vertex Pharmaceuticals by 21.3% in the fourth quarter. Capital World Investors now owns 21,805,770 shares of the pharmaceutical company's stock valued at $8,872,586,000 after purchasing an additional 3,824,103 shares in the last quarter. Norges Bank bought a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at about $1,237,877,000. Jennison Associates LLC increased its position in shares of Vertex Pharmaceuticals by 21.2% in the first quarter. Jennison Associates LLC now owns 4,782,374 shares of the pharmaceutical company's stock valued at $1,999,080,000 after acquiring an additional 837,461 shares during the last quarter. Public Employees Retirement Association of Colorado raised its holdings in Vertex Pharmaceuticals by 2,272.6% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 434,874 shares of the pharmaceutical company's stock worth $176,946,000 after acquiring an additional 416,545 shares in the last quarter. Finally, abrdn plc boosted its position in Vertex Pharmaceuticals by 196.0% during the fourth quarter. abrdn plc now owns 581,018 shares of the pharmaceutical company's stock valued at $236,410,000 after purchasing an additional 384,730 shares during the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.