Vertex Pharmaceuticals (NASDAQ:VRTX) PT Raised to $424.00 at Royal Bank of Canada

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price objective boosted by Royal Bank of Canada from $417.00 to $424.00 in a research report released on Tuesday morning, Benzinga reports. They currently have a sector perform rating on the pharmaceutical company’s stock.

A number of other research analysts have also recently issued reports on the stock. Wolfe Research assumed coverage on shares of Vertex Pharmaceuticals in a research report on Thursday, February 15th. They set an outperform rating and a $515.00 price target for the company. Evercore ISI upgraded shares of Vertex Pharmaceuticals from an in-line rating to an outperform rating and set a $438.00 target price for the company in a report on Thursday, April 11th. Piper Sandler upped their price target on Vertex Pharmaceuticals from $450.00 to $456.00 and gave the stock an overweight rating in a research note on Tuesday. HC Wainwright reaffirmed a buy rating and set a $462.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday. Finally, Barclays boosted 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 investment analysts have rated the stock with a sell rating, seven have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $432.18.

Vertex Pharmaceuticals Stock Up 0.0 %

Shares of NASDAQ:VRTX opened at $418.99 on Tuesday. The firm has a market capitalization of $108.29 billion, a P/E ratio of 30.16, a P/E/G ratio of 1.89 and a beta of 0.39. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.78 and a current ratio of 3.99. The stock has a 50 day moving average price of $407.86 and a 200-day moving average price of $400.88. Vertex Pharmaceuticals has a 52-week low of $320.01 and a 52-week high of $448.40.

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

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, EVP Amit Sachdev sold 3,222 shares of the business’s stock in a transaction on 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 sale, the executive vice president now owns 74,364 shares of the company’s stock, valued at approximately $31,250,727.36. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 354 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $425.70, for a total value of $150,697.80. Following the completion of the transaction, the executive vice president now directly owns 55,804 shares in the company, valued at $23,755,762.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Amit Sachdev sold 3,222 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now owns 74,364 shares in the company, valued at $31,250,727.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,381 shares of company stock valued at $5,203,249. Insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Institutional investors have recently bought and sold shares of the business. Venturi Wealth Management LLC boosted its stake in Vertex Pharmaceuticals by 1.1% in the 4th quarter. Venturi Wealth Management LLC now owns 2,293 shares of the pharmaceutical company’s stock worth $933,000 after purchasing an additional 24 shares during the period. Nicholas Hoffman & Company LLC. lifted its stake in Vertex Pharmaceuticals by 3.9% in the 4th quarter. Nicholas Hoffman & Company LLC. now owns 636 shares of the pharmaceutical company’s stock worth $259,000 after purchasing an additional 24 shares in the last quarter. Hohimer Wealth Management LLC boosted its holdings in shares of Vertex Pharmaceuticals by 0.8% during the 4th quarter. Hohimer Wealth Management LLC now owns 2,932 shares of the pharmaceutical company’s stock valued at $1,193,000 after purchasing an additional 24 shares during the last quarter. Johnson Financial Group Inc. grew its position in shares of Vertex Pharmaceuticals by 2.5% during the fourth quarter. Johnson Financial Group Inc. now owns 1,001 shares of the pharmaceutical company’s stock valued at $407,000 after purchasing an additional 24 shares in the last quarter. Finally, Arthur M. Cohen & Associates LLC increased its holdings in shares of Vertex Pharmaceuticals by 3.2% in the fourth quarter. Arthur M. Cohen & Associates LLC now owns 800 shares of the pharmaceutical company’s stock worth $326,000 after purchasing an additional 25 shares during the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

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.