Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) had its price target lifted by analysts at Bank of America from $350.00 to $400.00 in a research report issued on Friday, FlyOnTheWall reports. Bank of America‘s target price suggests a potential upside of 10.55% from the stock’s current price.
A number of other equities analysts have also weighed in on VRTX. Sanford C. Bernstein boosted their price objective on Vertex Pharmaceuticals from $344.00 to $363.00 in a research note on Wednesday, May 3rd. HC Wainwright raised their price objective on shares of Vertex Pharmaceuticals from $326.00 to $380.00 in a research report on Tuesday, May 2nd. Argus increased their price target on shares of Vertex Pharmaceuticals from $340.00 to $350.00 and gave the company a “buy” rating in a research note on Wednesday, March 29th. Maxim Group lifted their price target on shares of Vertex Pharmaceuticals from $325.00 to $400.00 in a research report on Wednesday, May 3rd. Finally, Oppenheimer upped their price objective on Vertex Pharmaceuticals from $350.00 to $410.00 in a report on Tuesday, May 2nd. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $359.00.
Vertex Pharmaceuticals Trading Up 0.9 %
Shares of VRTX opened at $361.82 on Friday. Vertex Pharmaceuticals has a 52-week low of $271.61 and a 52-week high of $365.56. The stock has a market cap of $93.19 billion, a PE ratio of 28.81, a price-to-earnings-growth ratio of 3.33 and a beta of 0.51. The firm’s fifty day moving average is $342.40 and its two-hundred day moving average is $321.30. The company has a quick ratio of 4.11, a current ratio of 4.28 and a debt-to-equity ratio of 0.03.
Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last posted its quarterly earnings results on Monday, May 1st. The pharmaceutical company reported $3.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.51 by $0.54. The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.34 billion. Vertex Pharmaceuticals had a net margin of 35.40% and a return on equity of 25.06%. Vertex Pharmaceuticals’s quarterly revenue was up 13.2% on a year-over-year basis. During the same period in the previous year, the business posted $3.16 earnings per share. Research analysts forecast that Vertex Pharmaceuticals will post 13.06 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, Director Bruce I. Sachs sold 11,250 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $356.75, for a total value of $4,013,437.50. Following the completion of the transaction, the director now owns 40,000 shares in the company, valued at approximately $14,270,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Bruce I. Sachs sold 11,250 shares of Vertex Pharmaceuticals stock in a transaction on Monday, July 17th. The shares were sold at an average price of $356.75, for a total transaction of $4,013,437.50. Following the completion of the sale, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $14,270,000. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Stuart A. Arbuckle sold 82 shares of the firm’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $329.82, for a total value of $27,045.24. Following the completion of the sale, the chief operating officer now owns 56,556 shares in the company, valued at $18,653,299.92. The disclosure for this sale can be found here. Insiders sold 45,297 shares of company stock valued at $15,914,580 in the last three months. 0.30% of the stock is owned by corporate insiders.
Institutional Trading of Vertex Pharmaceuticals
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sandy Spring Bank lifted its position in Vertex Pharmaceuticals by 1,014.3% in the first quarter. Sandy Spring Bank now owns 78 shares of the pharmaceutical company’s stock valued at $25,000 after acquiring an additional 71 shares during the last quarter. Independence Bank of Kentucky purchased a new position in Vertex Pharmaceuticals during the 2nd quarter worth approximately $25,000. Y.D. More Investments Ltd purchased a new stake in Vertex Pharmaceuticals in the fourth quarter valued at approximately $26,000. Steward Financial Group LLC acquired a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at approximately $28,000. Finally, SJS Investment Consulting Inc. grew its position in shares of Vertex Pharmaceuticals by 61.9% during the fourth quarter. SJS Investment Consulting Inc. now owns 102 shares of the pharmaceutical company’s stock worth $29,000 after acquiring an additional 39 shares during the last quarter. Institutional investors and hedge funds own 91.37% 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 and SYMDEKO/SYMKEVI for people with CF with at least one F508del mutation for 6 years of age or older; ORKAMBI for CF homozygous F508del mutation for CF patients 2 year or older; and KALYDECO for the treatment of patients with 4 months or older who have CF with a mutation that is responsive to ivacaftor, and R117H mutation or one of certain gating mutations.
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