Vertex Pharmaceuticals (NASDAQ:VRTX) Given a $553.00 Price Target at UBS Group

Key Points

• UBS Group has lowered its target price for Vertex Pharmaceuticals stock from $582 to $553, while still maintaining a "buy" rating, suggesting a potential upside of 38.42% from the previous close.
• Recently, several analysts have adjusted their ratings and price objectives for Vertex, with changes ranging from a reaffirmed "hold" rating by Needham & Company to a reduced price target from Cantor Fitzgerald and Scotiabank.
• Following these ratings, Vertex Pharmaceuticals' shares have seen a significant drop of 15.4%, with the stock currently trading around $399.50.

UBS Group set a $553.00 target price on Vertex Pharmaceuticals (NASDAQ:VRTX - Free Report) in a research report report published on Tuesday, MarketBeat reports. The brokerage currently has a buy rating on the pharmaceutical company's stock.

Several other equities analysts have also recently issued reports on the company. Wolfe Research cut Vertex Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, May 7th. Morgan Stanley set a $439.00 price target on shares of Vertex Pharmaceuticals and gave the stock an "equal weight" rating in a research note on Tuesday. Royal Bank Of Canada set a $420.00 price objective on shares of Vertex Pharmaceuticals and gave the company a "sector perform" rating in a research report on Tuesday, June 17th. HC Wainwright decreased their price objective on shares of Vertex Pharmaceuticals from $550.00 to $478.00 and set a "buy" rating for the company in a research report on Tuesday. Finally, Erste Group Bank downgraded shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. Thirteen investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of "Moderate Buy" and an average price target of $497.10.

Vertex Pharmaceuticals Stock Down 2.6%

VRTX stock traded down $10.02 during midday trading on Tuesday, hitting $375.63. The company's stock had a trading volume of 3,980,060 shares, compared to its average volume of 1,836,488. The firm has a 50-day simple moving average of $452.30 and a 200-day simple moving average of $465.93. The firm has a market capitalization of $96.46 billion, a P/E ratio of 26.85 and a beta of 0.44. Vertex Pharmaceuticals has a 52-week low of $372.35 and a 52-week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.28. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%. The business had revenue of $2.94 billion for the quarter, compared to analysts' expectations of $2.90 billion. During the same period last year, the firm earned ($12.83) earnings per share. The company's revenue for the quarter was up 11.3% compared to the same quarter last year. On average, sell-side analysts expect that Vertex Pharmaceuticals will post 15.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Bruce I. Sachs acquired 5,000 shares of the firm's stock in a transaction dated Wednesday, August 6th. The stock was acquired at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following the completion of the acquisition, the director owned 45,000 shares of the company's stock, valued at $17,535,600. The trade was a 12.50% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company's stock.

Institutional Trading of Vertex Pharmaceuticals

Large investors have recently bought and sold shares of the business. Activest Wealth Management purchased a new stake in shares of Vertex Pharmaceuticals in the first quarter valued at about $25,000. Clal Insurance Enterprises Holdings Ltd increased its position in Vertex Pharmaceuticals by 450.0% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company's stock valued at $27,000 after acquiring an additional 45 shares during the period. Access Investment Management LLC purchased a new stake in Vertex Pharmaceuticals during the 2nd quarter valued at approximately $27,000. Flaharty Asset Management LLC purchased a new stake in Vertex Pharmaceuticals during the 1st quarter valued at approximately $32,000. Finally, Legacy Investment Solutions LLC acquired a new stake in Vertex Pharmaceuticals during the 2nd quarter worth approximately $29,000. 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.