Vertex Pharmaceuticals - VRTX Stock Forecast, Price & News

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene; and TRIKAFTA for the treatment of patients with CF 6 years of age or older who have at least one F508del mutation. Its pipeline includes VX-864 for the treatment of AAT deficiency, which is in Phase 2 clinical trial; VX-147 for the treatment of APOL1-mediated focal segmental glomerulosclerosis, or FSGS, and other serious kidney diseases which is in Phase 2 clinical trial; VX- 880, treatment for Type 1 Diabetes which is in Phase 1/2 clinical trial; VX-548, a NaV1.8 inhibitor for treatments of acute, neuropathic, musculoskeletal pain which is in Phase 2 clinical trial; and CTX001 for the treatment severe SCD and TDT which is in Phase 3 clinical trial. The company sells its products primarily to specialty pharmacy and specialty distributors in the United States, as well as specialty distributors and retail chains, and hospitals and clinics internationally. It has collaborations with Affinia Therapeutics, Inc.; Arbor Biotechnologies, Inc.; CRISPR Therapeutics AG.; Kymera Therapeutics, Inc.; Mammoth Biosciences, Inc.; Moderna, Inc.; Obsidian Therapeutics, Inc.; and Skyhawk Therapeutics, Inc.; as well as Ribometrix, Inc.; Genomics plc; Merck KGaA; Darmstadt, Germany, and X-Chem, Inc. Vertex Pharmaceuticals Incorporated was founded in 1989 and is headquartered in Boston, Massachusetts.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on VRTX shares. Wells Fargo & Company increased their price objective on shares of Vertex Pharmaceuticals from $300.00 to $305.00 in a research note on Friday, May 6th. Cowen increased their price objective on shares of Vertex Pharmaceuticals from $305.00 to $310.00 in a research note on Monday, June 13th. Piper Sandler raised their price target on shares of Vertex Pharmaceuticals from $242.00 to $256.00 and gave the company a "neutral" rating in a research report on Tuesday, July 26th. Argus raised their price target on shares of Vertex Pharmaceuticals from $275.00 to $280.00 and gave the company a "buy" rating in a research report on Monday, June 13th. Finally, SVB Leerink started coverage on shares of Vertex Pharmaceuticals in a research report on Monday, May 23rd. They set a "market perform" rating and a $265.00 price target on the stock. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $290.05.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX traded up $3.28 during midday trading on Monday, hitting $297.80. The company's stock had a trading volume of 18,222 shares, compared to its average volume of 1,689,931. The business's 50 day simple moving average is $279.98 and its 200 day simple moving average is $263.39. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.36 and a current ratio of 4.50. The company has a market cap of $76.37 billion, a P/E ratio of 23.81, a price-to-earnings-growth ratio of 2.10 and a beta of 0.45. Vertex Pharmaceuticals has a 12-month low of $176.36 and a 12-month high of $301.80.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Rating) last posted its quarterly earnings results on Thursday, August 4th. The pharmaceutical company reported $3.60 earnings per share for the quarter, topping the consensus estimate of $3.12 by $0.48. The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.13 billion. Vertex Pharmaceuticals had a net margin of 38.26% and a return on equity of 31.22%. The company's revenue for the quarter was up 22.5% on a year-over-year basis. During the same period last year, the firm posted $2.80 earnings per share. On average, analysts forecast that Vertex Pharmaceuticals will post 12.56 EPS for the current year.

Insider Transactions at Vertex Pharmaceuticals

In other news, SVP Joy Liu sold 946 shares of the firm's stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $300.00, for a total value of $283,800.00. Following the transaction, the senior vice president now directly owns 13,388 shares of the company's stock, valued at $4,016,400. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 621 shares of Vertex Pharmaceuticals stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $278.77, for a total transaction of $173,116.17. Following the transaction, the director now directly owns 5,282 shares of the company's stock, valued at $1,472,463.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Joy Liu sold 946 shares of Vertex Pharmaceuticals stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $300.00, for a total transaction of $283,800.00. Following the transaction, the senior vice president now directly owns 13,388 shares in the company, valued at $4,016,400. The disclosure for this sale can be found here. Over the last three months, insiders have sold 170,911 shares of company stock valued at $48,494,385. Corporate insiders own 0.40% of the company's stock.