Vertex Pharmaceuticals (NASDAQ:VRTX) Receives “Hold” Rating from Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Vertex Pharmaceuticals (NASDAQ:VRTX) in a research note issued to investors on Tuesday, Benzinga reports.

A number of other research analysts also recently commented on VRTX. Royal Bank of Canada increased their target price on Vertex Pharmaceuticals from $397.00 to $420.00 and gave the stock a sector perform rating in a report on Tuesday, February 6th. Robert W. Baird lowered shares of Vertex Pharmaceuticals from a neutral rating to an underperform rating and set a $325.00 target price for the company. in a research note on Wednesday, January 31st. Maxim Group downgraded shares of Vertex Pharmaceuticals from a buy rating to a hold rating in a research report on Wednesday, January 31st. JPMorgan Chase & Co. increased their price objective on shares of Vertex Pharmaceuticals from $390.00 to $438.00 and gave the stock an overweight rating in a research note on Thursday, February 1st. Finally, Guggenheim lifted their target price on Vertex Pharmaceuticals from $445.00 to $450.00 and gave the company a buy rating in a research note on Thursday, April 18th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $432.18.

Vertex Pharmaceuticals Stock Up 1.9 %

VRTX stock opened at $410.24 on Tuesday. The company has a market capitalization of $106.03 billion, a P/E ratio of 29.53, a PEG ratio of 1.89 and a beta of 0.39. The firm has a 50 day simple moving average of $408.02 and a 200-day simple moving average of $400.75. The company has a current ratio of 3.99, a quick ratio of 3.78 and a debt-to-equity ratio of 0.02. Vertex Pharmaceuticals has a twelve month low of $320.01 and a twelve month high of $448.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share for the quarter, topping the consensus estimate of $3.66 by $1.10. Vertex Pharmaceuticals had a net margin of 36.68% and a return on equity of 21.91%. The company had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the previous year, the firm earned $2.67 EPS. The company’s revenue was up 13.3% on a year-over-year basis. On average, equities research analysts predict that Vertex Pharmaceuticals will post 14.95 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Amit Sachdev sold 3,222 shares of Vertex Pharmaceuticals stock in a transaction on Monday, February 12th. The stock was sold at an average price of $420.24, for a total transaction of $1,354,013.28. Following the transaction, the executive vice president now directly owns 74,364 shares in the company, valued at approximately $31,250,727.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Amit Sachdev sold 3,222 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $420.24, for a total transaction of $1,354,013.28. Following the completion of the transaction, the executive vice president now owns 74,364 shares in the company, valued at approximately $31,250,727.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Jeffrey M. Leiden sold 2,656 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $419.51, for a total transaction of $1,114,218.56. Following the completion of the sale, the chairman now owns 27,644 shares in the company, valued at $11,596,934.44. The disclosure for this sale can be found here. Insiders sold 12,381 shares of company stock worth $5,203,249 over the last three months. Corporate insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Vertex Pharmaceuticals

A number of hedge funds have recently modified their holdings of the stock. OFI Invest Asset Management purchased a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter valued at approximately $25,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at $25,000. Arlington Trust Co LLC boosted its position 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 worth $27,000 after buying an additional 33 shares during the period. Annapolis Financial Services LLC acquired a new position in Vertex Pharmaceuticals during the first quarter valued at $27,000. Finally, ICA Group Wealth Management LLC purchased a new stake in Vertex Pharmaceuticals in the 4th quarter worth about $28,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

About Vertex Pharmaceuticals

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.