Analysts Set Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) PT at $515.04

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Get Free Report) has received an average rating of "Moderate Buy" from the thirty analysts that are covering the firm, MarketBeat.com reports. Fourteen equities research analysts have rated the stock with a hold recommendation, fifteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $515.04.

A number of equities analysts recently commented on VRTX shares. Morgan Stanley raised their price target on shares of Vertex Pharmaceuticals from $462.00 to $464.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Canaccord Genuity Group raised shares of Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and raised their target price for the stock from $408.00 to $424.00 in a report on Tuesday, February 11th. William Blair reiterated an "outperform" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Truist Financial increased their price target on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $535.00 price objective on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ VRTX traded down $0.63 during trading hours on Friday, reaching $445.85. 840,145 shares of the stock were exchanged, compared to its average volume of 1,417,531. The firm has a market capitalization of $114.49 billion, a price-to-earnings ratio of -202.66, a P/E/G ratio of 2.11 and a beta of 0.41. The stock's fifty day simple moving average is $466.51 and its 200 day simple moving average is $460.41. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69. Vertex Pharmaceuticals has a 52 week low of $377.85 and a 52 week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same quarter in the previous year, the business earned $4.76 EPS. The firm's quarterly revenue was up 2.6% on a year-over-year basis. Sell-side analysts predict that Vertex Pharmaceuticals will post 15.63 EPS for the current year.

Insider Buying and Selling

In related news, EVP David Altshuler sold 3,231 shares of the firm's stock in a transaction on Monday, March 10th. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Vertex Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. Quent Capital LLC increased its position in Vertex Pharmaceuticals by 4.5% during the 1st quarter. Quent Capital LLC now owns 513 shares of the pharmaceutical company's stock valued at $249,000 after purchasing an additional 22 shares during the period. Truvestments Capital LLC boosted its stake 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 valued at $40,000 after purchasing an additional 23 shares during the last quarter. Advisor OS LLC increased its position in shares of Vertex Pharmaceuticals by 4.4% during the first quarter. Advisor OS LLC now owns 543 shares of the pharmaceutical company's stock worth $263,000 after buying an additional 23 shares during the period. Spinnaker Trust raised its stake in Vertex Pharmaceuticals by 2.1% during the fourth quarter. Spinnaker Trust now owns 1,235 shares of the pharmaceutical company's stock worth $497,000 after buying an additional 25 shares during the last quarter. Finally, Strategic Advisors LLC lifted its holdings in Vertex Pharmaceuticals by 0.6% in the fourth quarter. Strategic Advisors LLC now owns 4,486 shares of the pharmaceutical company's stock valued at $1,807,000 after buying an additional 25 shares during the period. 90.96% of the stock is currently owned by institutional investors.

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.