Vertex Pharmaceuticals (NASDAQ:VRTX) Given Hold Rating at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Vertex Pharmaceuticals (NASDAQ:VRTX - Free Report) in a research report sent to investors on Tuesday,Benzinga reports.

Other research analysts also recently issued research reports about the stock. William Blair reiterated an "outperform" rating on shares of Vertex Pharmaceuticals in a research report on Friday, January 31st. Scotiabank upped their price objective on shares of Vertex Pharmaceuticals from $433.00 to $450.00 and gave the company a "sector perform" rating in a report on Tuesday, February 11th. Bank of America raised their target price on Vertex Pharmaceuticals from $555.00 to $567.00 and gave the company a "buy" rating in a research note on Monday, March 31st. Barclays upped their price target on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 11th. Finally, BMO Capital Markets set a $545.00 price objective on Vertex Pharmaceuticals in a research note on Friday, January 31st. Thirteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average price target of $515.04.

Vertex Pharmaceuticals Trading Down 1.0 %

VRTX traded down $4.30 during trading on Tuesday, reaching $425.30. 1,641,219 shares of the stock traded hands, compared to its average volume of 1,389,826. The stock's 50-day moving average is $488.74 and its 200 day moving average is $465.90. Vertex Pharmaceuticals has a 12 month low of $377.85 and a 12 month high of $519.88. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $109.34 billion, a PE ratio of -193.32, a P/E/G ratio of 2.11 and a beta of 0.51.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 EPS 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 business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same period in the prior year, the business earned $4.76 EPS. The company's revenue for the quarter was up 2.6% on a year-over-year basis. Equities analysts anticipate that Vertex Pharmaceuticals will post 15.63 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Ourania Tatsis sold 244 shares of Vertex Pharmaceuticals stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total value of $111,034.64. Following the completion of the sale, the executive vice president now owns 67,695 shares of the company's stock, valued at approximately $30,805,286.70. This trade represents a 0.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP David Altshuler sold 3,231 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the sale, the executive vice president now directly owns 26,512 shares in the company, valued at approximately $13,256,000. This trade represents a 10.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,315 shares of company stock valued at $2,121,012. Company insiders own 0.20% of the company's stock.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quent Capital LLC increased its position in shares of Vertex Pharmaceuticals by 4.5% during the first quarter. Quent Capital LLC now owns 513 shares of the pharmaceutical company's stock valued at $249,000 after acquiring an additional 22 shares in the last quarter. Truvestments Capital LLC boosted its stake in Vertex Pharmaceuticals by 30.3% during 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 holdings in shares of Vertex Pharmaceuticals by 4.4% in the 1st quarter. Advisor OS LLC now owns 543 shares of the pharmaceutical company's stock worth $263,000 after purchasing an additional 23 shares in the last quarter. Simon Quick Advisors LLC raised its stake in shares of Vertex Pharmaceuticals by 1.1% in the fourth quarter. Simon Quick Advisors LLC now owns 2,236 shares of the pharmaceutical company's stock worth $900,000 after purchasing an additional 24 shares during the last quarter. Finally, Spinnaker Trust lifted its holdings in shares of Vertex Pharmaceuticals by 2.1% during the fourth quarter. Spinnaker Trust now owns 1,235 shares of the pharmaceutical company's stock valued at $497,000 after purchasing an additional 25 shares in the last quarter. Institutional investors own 90.96% of the company's stock.

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.