Vertex Pharmaceuticals (NASDAQ:VRTX) Given New $423.00 Price Target at Royal Bank of Canada

Vertex Pharmaceuticals (NASDAQ:VRTX - Free Report) had its price target boosted by Royal Bank of Canada from $420.00 to $423.00 in a research report sent to investors on Tuesday morning, Marketbeat.com reports. They currently have a sector perform rating on the pharmaceutical company's stock.

Other equities analysts also recently issued reports about the stock. Bank of America increased their price objective on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the stock a "buy" rating in a research note on Monday, March 31st. StockNews.com upgraded Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Tuesday, March 11th. Wells Fargo & Company lowered shares of Vertex Pharmaceuticals from an "overweight" rating to an "equal weight" rating and set a $460.00 price target for the company. in a report on Thursday, January 30th. Scotiabank upped their target price on Vertex Pharmaceuticals from $433.00 to $450.00 and gave the stock a "sector perform" rating in a research report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. lifted their target price on Vertex Pharmaceuticals from $512.00 to $515.00 and gave the stock an "overweight" rating in a research note on Tuesday. Thirteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $515.04.

Vertex Pharmaceuticals Stock Performance

VRTX stock traded up $3.64 during mid-day trading on Tuesday, reaching $433.24. 497,902 shares of the stock traded hands, compared to its average volume of 1,628,822. Vertex Pharmaceuticals has a 52 week low of $377.85 and a 52 week high of $519.88. The business has a 50-day moving average of $489.96 and a two-hundred day moving average of $466.24. The firm has a market capitalization of $111.38 billion, a PE ratio of -196.93, a P/E/G ratio of 2.11 and a beta of 0.51. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.29 by ($0.23). Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same period in the previous year, the company posted $4.76 earnings per share. The company's quarterly revenue was up 2.6% on a year-over-year basis. As a group, equities analysts predict that Vertex Pharmaceuticals will post 15.63 EPS for the current fiscal year.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 244 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total transaction of $111,034.64. Following the transaction, the executive vice president now directly owns 67,695 shares in the company, valued at approximately $30,805,286.70. This represents a 0.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP David Altshuler sold 3,231 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the completion of the transaction, the executive vice president now directly owns 26,512 shares of the company's stock, valued at $13,256,000. This trade represents a 10.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,315 shares of company stock valued at $2,121,012. Insiders own 0.20% of the company's stock.

Institutional Trading of Vertex Pharmaceuticals

Large investors have recently made changes to their positions in the company. Capital World Investors lifted its position in shares of Vertex Pharmaceuticals by 5.7% in the 4th quarter. Capital World Investors now owns 28,325,695 shares of the pharmaceutical company's stock worth $11,406,667,000 after purchasing an additional 1,514,993 shares during the period. Vanguard Group Inc. increased its position in Vertex Pharmaceuticals by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 23,258,288 shares of the pharmaceutical company's stock worth $9,366,113,000 after buying an additional 98,654 shares during the last quarter. Capital Research Global Investors boosted its position in Vertex Pharmaceuticals by 15.8% during the fourth quarter. Capital Research Global Investors now owns 10,428,951 shares of the pharmaceutical company's stock worth $4,199,713,000 after purchasing an additional 1,426,746 shares during the period. Wellington Management Group LLP lifted its holdings in Vertex Pharmaceuticals by 23.3% during the 4th quarter. Wellington Management Group LLP now owns 5,916,084 shares of the pharmaceutical company's stock worth $2,382,407,000 after purchasing an additional 1,117,214 shares in the last quarter. Finally, Jennison Associates LLC boosted its holdings in Vertex Pharmaceuticals by 17.2% in the 1st quarter. Jennison Associates LLC now owns 5,062,442 shares of the pharmaceutical company's stock valued at $2,454,373,000 after purchasing an additional 744,680 shares during the period. 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.