Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the twenty-five analysts that are covering the company, Marketbeat Ratings reports. Ten analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $512.41.

Several research analysts have weighed in on the stock. HC Wainwright reaffirmed a "buy" rating and set a $550.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. JPMorgan Chase & Co. decreased their price target on Vertex Pharmaceuticals from $503.00 to $500.00 and set an "overweight" rating on the stock in a research note on Monday, December 23rd. Scotiabank boosted their price objective on Vertex Pharmaceuticals from $433.00 to $450.00 and gave the company a "sector perform" rating in a report on Tuesday, February 11th. Canaccord Genuity Group raised Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and increased their target price for the stock from $408.00 to $424.00 in a research note on Tuesday, February 11th. Finally, Truist Financial lifted their target price on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, EVP David Altshuler sold 3,231 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $500.00, for a total value of $1,615,500.00. Following the sale, the executive vice president now owns 26,512 shares of the company's stock, valued at approximately $13,256,000. The trade was a 10.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ourania Tatsis sold 530 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $475.34, for a total transaction of $251,930.20. Following the completion of the transaction, the executive vice president now owns 58,539 shares of the company's stock, valued at $27,825,928.26. This represents a 0.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,315 shares of company stock worth $2,121,012 in the last quarter. 0.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Several hedge funds have recently modified their holdings of the company. Brown Lisle Cummings Inc. purchased a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth about $30,000. Mascagni Wealth Management Inc. acquired a new stake in shares of Vertex Pharmaceuticals during the fourth quarter valued at about $31,000. Sugar Maple Asset Management LLC acquired a new stake in Vertex Pharmaceuticals during the 4th quarter valued at approximately $35,000. Golden State Wealth Management LLC bought a new stake in shares of Vertex Pharmaceuticals in the fourth quarter worth $37,000. Finally, Truvestments Capital LLC increased its position in shares of Vertex Pharmaceuticals by 30.3% in the 4th quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock worth $40,000 after purchasing an additional 23 shares during the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Trading Down 2.2 %

VRTX stock traded down $11.26 during trading on Friday, reaching $489.23. 85,150 shares of the stock were exchanged, compared to its average volume of 1,527,017. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $125.63 billion, a price-to-earnings ratio of -222.74, a P/E/G ratio of 2.11 and a beta of 0.50. The business has a 50 day moving average price of $485.37 and a 200-day moving average price of $464.76. Vertex Pharmaceuticals has a 1 year low of $377.85 and a 1 year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. On average, research analysts predict that Vertex Pharmaceuticals will post 15.63 earnings per share for the current year.

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.