Vertex Pharmaceuticals (NASDAQ:VRTX) Lowered to Buy Rating by Wall Street Zen

Key Points

• Vertex Pharmaceuticals was downgraded from a "strong-buy" to a "buy" rating by Wall Street Zen, while other firms also adjusted their ratings and price targets for the stock.
• The company's shares experienced a slight decrease of 0.6% and currently trade around $395.12, with an average price target of $497.10 from analysts.
• In the latest quarterly earnings report, Vertex reported $4.52 EPS, exceeding estimates, and had revenue of $2.94 billion, marking an 11.3% increase from the previous year.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued to investors on Friday.

A number of other research firms have also recently commented on VRTX. Erste Group Bank cut shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. Stifel Nicolaus dropped their target price on shares of Vertex Pharmaceuticals from $494.00 to $455.00 and set a "hold" rating on the stock in a research report on Tuesday, August 5th. Needham & Company LLC reissued a "hold" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Cantor Fitzgerald dropped their target price on shares of Vertex Pharmaceuticals from $535.00 to $485.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 5th. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and thirteen have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $497.10.

Vertex Pharmaceuticals Stock Down 0.6%

Shares of VRTX stock opened at $395.12 on Friday. The firm has a market cap of $101.30 billion, a price-to-earnings ratio of 28.24 and a beta of 0.44. The company's 50 day moving average is $438.99 and its 200 day moving average is $461.53. Vertex Pharmaceuticals has a 52-week low of $362.50 and a 52-week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued 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 net margin of 31.86% and a return on equity of 23.91%. The company had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same period last year, the company posted ($12.83) earnings per share. Vertex Pharmaceuticals's revenue was up 11.3% compared to the same quarter last year. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Analysts anticipate that Vertex Pharmaceuticals will post 15.63 EPS for the current fiscal year.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs acquired 5,000 shares of the business's stock in a transaction dated Wednesday, August 6th. The stock was acquired at an average cost of $389.68 per share, for a total transaction of $1,948,400.00. Following the completion of the transaction, the director directly owned 45,000 shares of the company's stock, valued at $17,535,600. This represents a 12.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by company insiders.

Institutional Trading of Vertex Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. Coppell Advisory Solutions LLC lifted its position in shares of Vertex Pharmaceuticals by 74.1% in the second quarter. Coppell Advisory Solutions LLC now owns 6,686 shares of the pharmaceutical company's stock valued at $2,951,000 after acquiring an additional 2,846 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in shares of Vertex Pharmaceuticals in the second quarter valued at approximately $1,844,000. Marex Group plc purchased a new position in shares of Vertex Pharmaceuticals in the second quarter valued at approximately $2,984,000. MRP Capital Investments LLC lifted its position in shares of Vertex Pharmaceuticals by 9.7% in the second quarter. MRP Capital Investments LLC now owns 4,475 shares of the pharmaceutical company's stock valued at $1,992,000 after acquiring an additional 395 shares in the last quarter. Finally, Advisory Services Network LLC lifted its position in shares of Vertex Pharmaceuticals by 7.2% in the second quarter. Advisory Services Network LLC now owns 6,122 shares of the pharmaceutical company's stock valued at $2,797,000 after acquiring an additional 409 shares in the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

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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