Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Vertex Pharmaceuticals has a consensus analyst rating of "Moderate Buy", based on coverage from 25 brokerages: 21 rate it a buy and 4 rate it a hold. The average 1-year price target is about $555.91.
• The company recently reported Q1 earnings of $4.47 per share, beating estimates of $4.24, while revenue of $2.99 billion matched expectations. Revenue rose 8.3% year over year.
• Vertex shares were trading near their 52-week high, opening at $528.04 versus a 12-month high of $529.14. The stock also has a large institutional ownership base, with institutions holding 90.96% of shares.

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Get Free Report) has been given an average rating of "Moderate Buy" by the twenty-five brokerages that are currently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $555.9130.

VRTX has been the subject of a number of research analyst reports. Royal Bank Of Canada raised their price objective on shares of Vertex Pharmaceuticals from $541.00 to $543.00 and gave the stock an "outperform" rating in a report on Tuesday, May 5th. Citigroup increased their target price on shares of Vertex Pharmaceuticals from $575.00 to $585.00 and gave the company a "buy" rating in a research report on Tuesday, March 10th. Barclays raised their price target on shares of Vertex Pharmaceuticals from $607.00 to $615.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. Bank of America lifted their price target on shares of Vertex Pharmaceuticals from $571.00 to $598.00 and gave the stock a "buy" rating in a report on Tuesday, March 10th. Finally, Maxim Group raised Vertex Pharmaceuticals from a "hold" rating to a "buy" rating and set a $575.00 price objective for the company in a report on Wednesday, March 18th.

Vertex Pharmaceuticals Stock Performance

Shares of Vertex Pharmaceuticals stock opened at $528.04 on Friday. The business's fifty day simple moving average is $449.37 and its 200 day simple moving average is $456.46. The firm has a market capitalization of $134.02 billion, a P/E ratio of 31.32, a price-to-earnings-growth ratio of 2.26 and a beta of 0.29. Vertex Pharmaceuticals has a 12 month low of $362.50 and a 12 month high of $529.14.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.24 by $0.23. The firm had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.99 billion. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.The business's revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.06 EPS. Analysts predict that Vertex Pharmaceuticals will post 17.02 EPS for the current fiscal year.

Insider Transactions at Vertex Pharmaceuticals

In related news, EVP Joy Liu sold 1,104 shares of Vertex Pharmaceuticals stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $425.02, for a total value of $469,222.08. Following the completion of the sale, the executive vice president owned 20,729 shares of the company's stock, valued at approximately $8,810,239.58. This trade represents a 5.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 6,988 shares of the business's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $450.00, for a total value of $3,144,600.00. Following the completion of the sale, the chief marketing officer owned 26,088 shares in the company, valued at $11,739,600. This represents a 21.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 15,833 shares of company stock worth $7,120,702. 0.20% of the stock is owned by company insiders.

Institutional Trading of Vertex Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the business. Earned Wealth Advisors LLC grew its stake in Vertex Pharmaceuticals by 3.3% in the 4th quarter. Earned Wealth Advisors LLC now owns 650 shares of the pharmaceutical company's stock valued at $295,000 after buying an additional 21 shares in the last quarter. Confluence Wealth Services Inc. lifted its position in shares of Vertex Pharmaceuticals by 4.0% during the fourth quarter. Confluence Wealth Services Inc. now owns 545 shares of the pharmaceutical company's stock worth $247,000 after acquiring an additional 21 shares in the last quarter. Williams Jones Wealth Management LLC. boosted its holdings in shares of Vertex Pharmaceuticals by 1.9% in the fourth quarter. Williams Jones Wealth Management LLC. now owns 1,155 shares of the pharmaceutical company's stock worth $524,000 after acquiring an additional 21 shares during the period. Childress Capital Advisors LLC boosted its holdings in shares of Vertex Pharmaceuticals by 3.1% in the fourth quarter. Childress Capital Advisors LLC now owns 730 shares of the pharmaceutical company's stock worth $331,000 after acquiring an additional 22 shares during the period. Finally, Cannell & Spears LLC grew its position in shares of Vertex Pharmaceuticals by 1.2% in the first quarter. Cannell & Spears LLC now owns 1,983 shares of the pharmaceutical company's stock valued at $885,000 after purchasing an additional 23 shares in the last quarter. Institutional investors own 90.96% of the company's stock.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex's marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.