Vertex Pharmaceuticals’ (VRTX) Outperform Rating Reiterated at Oppenheimer

Oppenheimer reaffirmed their outperform rating on shares of Vertex Pharmaceuticals (NASDAQ:VRTX) in a research report released on Monday morning, Benzinga reports. They currently have a $500.00 target price on the pharmaceutical company’s stock.

Several other research analysts have also recently weighed in on the company. Wells Fargo & Company increased their price objective on Vertex Pharmaceuticals from $500.00 to $540.00 and gave the stock an overweight rating in a research report on Tuesday, February 6th. Canaccord Genuity Group reissued a sell rating and set a $371.00 target price on shares of Vertex Pharmaceuticals in a report on Friday, April 12th. Cantor Fitzgerald reissued an overweight rating and set a $440.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday, February 20th. Wolfe Research began coverage on Vertex Pharmaceuticals in a report on Thursday, February 15th. They set an outperform rating and a $515.00 target price for the company. Finally, Barclays lifted their target price on Vertex Pharmaceuticals from $446.00 to $472.00 and gave the stock an overweight rating in a report on Tuesday, February 6th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Vertex Pharmaceuticals has an average rating of Moderate Buy and a consensus price target of $424.62.

Vertex Pharmaceuticals Trading Down 0.3 %

VRTX stock opened at $393.10 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.99 and a quick ratio of 3.78. The company has a fifty day moving average price of $414.76 and a two-hundred day moving average price of $396.76. Vertex Pharmaceuticals has a one year low of $316.43 and a one year high of $448.40. The stock has a market cap of $101.60 billion, a price-to-earnings ratio of 28.30, a price-to-earnings-growth ratio of 1.87 and a beta of 0.35.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, February 5th. The pharmaceutical company reported $4.20 EPS for the quarter, topping analysts’ consensus estimates of $3.85 by $0.35. Vertex Pharmaceuticals had a net margin of 36.68% and a return on equity of 21.91%. The firm had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the previous year, the business posted $3.33 earnings per share. Equities analysts anticipate that Vertex Pharmaceuticals will post 14.95 EPS for the current year.

Insider Transactions at Vertex Pharmaceuticals

In related news, COO Stuart A. Arbuckle sold 4,295 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $420.24, for a total value of $1,804,930.80. Following the transaction, the chief operating officer now directly owns 75,718 shares of the company’s stock, valued at $31,819,732.32. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Ourania Tatsis sold 354 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $425.70, for a total value of $150,697.80. Following the transaction, the executive vice president now directly owns 55,804 shares of the company’s stock, valued at $23,755,762.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Stuart A. Arbuckle sold 4,295 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $420.24, for a total value of $1,804,930.80. Following the completion of the transaction, the chief operating officer now directly owns 75,718 shares in the company, valued at $31,819,732.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,381 shares of company stock worth $5,203,249. Insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Vertex Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the business. D.B. Root & Company LLC lifted its stake in Vertex Pharmaceuticals by 1.9% in the first quarter. D.B. Root & Company LLC now owns 1,394 shares of the pharmaceutical company’s stock valued at $583,000 after buying an additional 26 shares during the period. Trilogy Capital Inc. acquired a new position in Vertex Pharmaceuticals in the first quarter valued at approximately $429,000. Annapolis Financial Services LLC acquired a new position in Vertex Pharmaceuticals in the first quarter valued at approximately $27,000. New Mexico Educational Retirement Board lifted its stake in Vertex Pharmaceuticals by 10.4% in the first quarter. New Mexico Educational Retirement Board now owns 14,800 shares of the pharmaceutical company’s stock valued at $6,187,000 after buying an additional 1,400 shares during the period. Finally, Founders Financial Securities LLC lifted its stake in Vertex Pharmaceuticals by 18.4% in the first quarter. Founders Financial Securities LLC now owns 1,186 shares of the pharmaceutical company’s stock valued at $496,000 after buying an additional 184 shares during the period. 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.