Vertex Pharmaceuticals (NASDAQ:VRTX) Given "Overweight" Rating at Cantor Fitzgerald

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report)'s stock had its "overweight" rating reiterated by stock analysts at Cantor Fitzgerald in a research report issued on Tuesday,Benzinga reports. They presently have a $535.00 price target on the pharmaceutical company's stock. Cantor Fitzgerald's price target suggests a potential upside of 6.96% from the stock's current price.

VRTX has been the topic of a number of other reports. Piper Sandler cut their price objective on Vertex Pharmaceuticals from $535.00 to $533.00 and set an "overweight" rating on the stock in a research note on Monday, January 27th. StockNews.com upgraded shares of Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Tuesday, March 11th. Leerink Partners reaffirmed a "market perform" rating and issued a $503.00 price objective (down previously from $550.00) on shares of Vertex Pharmaceuticals in a research report on Tuesday. Barclays raised their price objective on shares of Vertex Pharmaceuticals from $435.00 to $467.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 11th. Finally, Royal Bank of Canada lifted their price objective on shares of Vertex Pharmaceuticals from $408.00 to $420.00 and gave the stock a "sector perform" rating in a report on Tuesday, April 1st. Eleven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of "Moderate Buy" and an average price target of $514.39.

Vertex Pharmaceuticals Stock Down 0.2 %

Shares of NASDAQ:VRTX opened at $500.19 on Tuesday. The company has a 50 day moving average of $492.42 and a 200-day moving average of $466.91. The stock has a market cap of $128.59 billion, a price-to-earnings ratio of -227.36, a P/E/G ratio of 2.11 and a beta of 0.51. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35. Vertex Pharmaceuticals has a one year low of $377.85 and a one year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $2.85 billion. During the same quarter in the prior year, the company earned $4.76 EPS. The company's revenue for the quarter was up 2.6% on a year-over-year basis. On average, sell-side analysts forecast that Vertex Pharmaceuticals will post 15.63 earnings per share for the current year.

Insider Activity

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 244 shares of Vertex Pharmaceuticals stock in a transaction that occurred on 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 of the company's stock, valued at $30,805,286.70. The trade was a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a filing 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 dated 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 completion of the transaction, the executive vice president now owns 26,512 shares in the company, valued at approximately $13,256,000. This trade represents a 10.86 % 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 over the last ninety days. 0.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Vertex Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of VRTX. Guidance Capital Inc. lifted its holdings in shares of Vertex Pharmaceuticals by 8.3% in the first quarter. Guidance Capital Inc. now owns 2,275 shares of the pharmaceutical company's stock valued at $1,140,000 after purchasing an additional 174 shares in the last quarter. Choreo LLC boosted its stake in Vertex Pharmaceuticals by 4.9% during the 1st quarter. Choreo LLC now owns 6,393 shares of the pharmaceutical company's stock valued at $3,099,000 after purchasing an additional 301 shares during the period. Hartford Funds Management Co LLC raised its position in shares of Vertex Pharmaceuticals by 21.3% during the first quarter. Hartford Funds Management Co LLC now owns 1,360 shares of the pharmaceutical company's stock valued at $659,000 after buying an additional 239 shares during the last quarter. Ignite Planners LLC bought a new stake in shares of Vertex Pharmaceuticals in the 1st quarter valued at approximately $303,000. Finally, HighPoint Advisor Group LLC boosted its position in Vertex Pharmaceuticals by 11.3% in the first quarter. HighPoint Advisor Group LLC now owns 4,011 shares of the pharmaceutical company's stock valued at $2,020,000 after buying an additional 406 shares in the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

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.

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