Vertex Pharmaceuticals (NASDAQ:VRTX) Shares Cross Above Fifty Day Moving Average – Should You Sell?

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) passed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $523.08 and traded as high as $534.94. Vertex Pharmaceuticals shares last traded at $529.69, with a volume of 1,282,431 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on VRTX shares. UBS Group upped their price target on Vertex Pharmaceuticals from $585.00 to $615.00 and gave the stock a “buy” rating in a report on Monday, September 28th. TD Cowen increased their price objective on shares of Vertex Pharmaceuticals from $525.00 to $550.00 and gave the company a “buy” rating in a research report on Wednesday, September 23rd. The Goldman Sachs Group set a $653.00 price objective on shares of Vertex Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, September 1st. Wall Street Zen raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, October 17th. Finally, Cantor Fitzgerald upped their target price on shares of Vertex Pharmaceuticals from $590.00 to $595.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $579.81.

Vertex Pharmaceuticals Stock Performance

The firm has a fifty day simple moving average of $523.08 and a 200-day simple moving average of $478.60. The company has a market capitalization of $134.44 billion, a PE ratio of 30.83, a P/E/G ratio of 2.51 and a beta of 0.28.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.74 by ($0.01). Vertex Pharmaceuticals had a net margin of 35.00% and a return on equity of 23.09%. The business had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.23 billion. During the same period in the previous year, the company earned $4.52 earnings per share. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. As a group, research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 16.74 EPS for the current fiscal year.

Institutional Trading of Vertex Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. Global Assets Advisory LLC lifted its position in shares of Vertex Pharmaceuticals by 5.7% during the third quarter. Global Assets Advisory LLC now owns 2,145 shares of the pharmaceutical company’s stock worth $1,077,000 after purchasing an additional 115 shares during the last quarter. Summit Global Investments grew its stake in Vertex Pharmaceuticals by 39.0% in the third quarter. Summit Global Investments now owns 9,982 shares of the pharmaceutical company’s stock worth $5,219,000 after purchasing an additional 2,800 shares in the last quarter. Invera Wealth Advisors LLC grew its stake in Vertex Pharmaceuticals by 5.3% in the third quarter. Invera Wealth Advisors LLC now owns 871 shares of the pharmaceutical company’s stock worth $455,000 after purchasing an additional 44 shares in the last quarter. Americana Partners LLC grew its stake in Vertex Pharmaceuticals by 3.5% in the third quarter. Americana Partners LLC now owns 40,295 shares of the pharmaceutical company’s stock worth $21,067,000 after purchasing an additional 1,381 shares in the last quarter. Finally, Aprio Wealth Management LLC increased its holdings in Vertex Pharmaceuticals by 7.8% in the third quarter. Aprio Wealth Management LLC now owns 647 shares of the pharmaceutical company’s stock valued at $338,000 after buying an additional 47 shares during the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated is a global biotechnology company focused on developing and commercializing medicines for serious diseases. Founded in 1989 and headquartered in Boston, Massachusetts, the company applies expertise in the science of human disease to discover therapies that address significant unmet medical needs.

Vertex is best known for its cystic fibrosis portfolio, which includes Kalydeco, Orkambi, Symdeko/Symkevi, and Trikafta/Kaftrio. These medicines target the underlying cause of cystic fibrosis for patients with specific mutations in the CFTR gene.