Cantor Fitzgerald Reaffirms "Overweight" Rating for Vertex Pharmaceuticals (NASDAQ:VRTX)

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report)'s stock had its "overweight" rating reissued by equities research analysts at Cantor Fitzgerald in a report issued on Tuesday, MarketBeat reports. They currently have a $535.00 price objective on the pharmaceutical company's stock. Cantor Fitzgerald's price objective would indicate a potential upside of 8.33% from the stock's current price. Cantor Fitzgerald also issued estimates for Vertex Pharmaceuticals' FY2025 earnings at $15.67 EPS.

Other analysts have also recently issued research reports about the company. Royal Bank of Canada lifted their price objective on Vertex Pharmaceuticals from $408.00 to $420.00 and gave the stock a "sector perform" rating in a research report on Tuesday, April 1st. Morgan Stanley upped their price objective on shares of Vertex Pharmaceuticals from $450.00 to $459.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 11th. Piper Sandler decreased their target price on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an "overweight" rating on the stock in a research report on Monday, January 27th. StockNews.com upgraded Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Tuesday, March 11th. Finally, Canaccord Genuity Group upgraded Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and raised their price objective for the stock from $408.00 to $424.00 in a report on Tuesday, February 11th. Ten analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $514.91.

Vertex Pharmaceuticals Price Performance

VRTX traded up $1.37 during midday trading on Tuesday, reaching $493.84. 1,561,491 shares of the company's stock were exchanged, compared to its average volume of 1,337,381. The business's 50-day moving average price is $489.78 and its 200 day moving average price is $466.35. The stock has a market capitalization of $126.81 billion, a PE ratio of -224.47, a P/E/G ratio of 2.11 and a beta of 0.50. Vertex Pharmaceuticals has a 1-year low of $377.85 and a 1-year high of $519.88. 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 (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. As a group, equities analysts anticipate that Vertex Pharmaceuticals will post 15.63 EPS for the current fiscal year.

Insider Activity

In other news, EVP Ourania Tatsis sold 244 shares of the 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 in the company, valued at approximately $30,805,286.70. This trade represents a 0.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David Altshuler sold 3,231 shares of the company's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $13,256,000. This represents a 10.86 % decrease in their position. The disclosure for this sale can be found here. In 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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VRTX. Mather Group LLC. grew its position in shares of Vertex Pharmaceuticals by 6.7% during the first quarter. Mather Group LLC. now owns 4,146 shares of the pharmaceutical company's stock worth $2,010,000 after buying an additional 259 shares in the last quarter. Alta Advisers Ltd boosted its stake in Vertex Pharmaceuticals by 45.9% during the 1st quarter. Alta Advisers Ltd now owns 1,271 shares of the pharmaceutical company's stock valued at $616,000 after acquiring an additional 400 shares during the last quarter. Deseret Mutual Benefit Administrators grew its holdings in Vertex Pharmaceuticals by 26.0% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 334 shares of the pharmaceutical company's stock worth $162,000 after acquiring an additional 69 shares in the last quarter. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 1st quarter valued at about $59,000. Finally, Canandaigua National Bank & Trust Co. bought a new position in shares of Vertex Pharmaceuticals during the first quarter worth about $219,000. Hedge funds and other 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.