Vertex Pharmaceuticals (NASDAQ:VRTX) Upgraded to Strong-Buy by StockNews.com

StockNews.com upgraded shares of Vertex Pharmaceuticals (NASDAQ:VRTX) from a buy rating to a strong-buy rating in a report issued on Friday morning.

Several other analysts have also commented on VRTX. Canaccord Genuity Group reaffirmed a sell rating and set a $371.00 price target on shares of Vertex Pharmaceuticals in a research report on Friday, April 12th. Maxim Group cut Vertex Pharmaceuticals from a buy rating to a hold rating in a report on Wednesday, January 31st. JPMorgan Chase & Co. boosted their price objective on shares of Vertex Pharmaceuticals from $390.00 to $438.00 and gave the company an overweight rating in a report on Thursday, February 1st. William Blair reaffirmed an outperform rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 6th. Finally, Evercore ISI upgraded shares of Vertex Pharmaceuticals from an in-line rating to an outperform rating and set a $438.00 price target for the company in a research report on Thursday, April 11th. Three analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of Moderate Buy and a consensus price target of $430.86.

Vertex Pharmaceuticals Stock Up 0.2 %

Shares of NASDAQ:VRTX opened at $401.08 on Friday. Vertex Pharmaceuticals has a 52-week low of $320.01 and a 52-week high of $448.40. The stock has a market cap of $103.66 billion, a P/E ratio of 28.88, a PEG ratio of 1.88 and a beta of 0.39. The business has a fifty day moving average of $409.64 and a two-hundred day moving average of $399.55. The company has a quick ratio of 3.78, a current ratio of 3.99 and a debt-to-equity ratio of 0.02.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, February 5th. The pharmaceutical company reported $4.20 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $2.50 billion. During the same quarter in the prior year, the firm posted $3.33 earnings per share. On average, research analysts expect that Vertex Pharmaceuticals will post 14.95 earnings per share for the current year.

Insider Activity

In other news, EVP Ourania Tatsis sold 354 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $425.70, for a total transaction of $150,697.80. Following the completion of the transaction, the executive vice president now directly owns 55,804 shares of the company’s stock, valued at approximately $23,755,762.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, COO Stuart A. Arbuckle sold 4,295 shares of the stock in a transaction on Monday, February 12th. The shares were 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 approximately $31,819,732.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Ourania Tatsis sold 354 shares of Vertex Pharmaceuticals stock in a transaction on Monday, February 26th. The stock was sold at an average price of $425.70, for a total transaction of $150,697.80. Following the sale, the executive vice president now owns 55,804 shares in the company, valued at $23,755,762.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,381 shares of company stock worth $5,203,249. 0.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Vertex Pharmaceuticals

Several hedge funds have recently made changes to their positions in VRTX. University of Texas Texas AM Investment Managment Co. purchased a new stake in Vertex Pharmaceuticals in the 4th quarter valued at $25,000. Annapolis Financial Services LLC acquired a new position in Vertex Pharmaceuticals in the first quarter valued at $27,000. Arlington Trust Co LLC raised its holdings in shares of Vertex Pharmaceuticals by 97.1% in the fourth quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock valued at $27,000 after buying an additional 33 shares during the last quarter. ICA Group Wealth Management LLC purchased a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth about $28,000. Finally, Fortitude Family Office LLC purchased a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth about $30,000. 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.