Piper Sandler Increases Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target to $327.00

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price objective upped by analysts at Piper Sandler from $302.00 to $327.00 in a note issued to investors on Friday, The Fly reports. The firm presently has an “overweight” rating on the pharmaceutical company’s stock. Piper Sandler’s target price points to a potential upside of 20.22% from the stock’s previous close.

Several other brokerages also recently commented on VRTX. Jefferies Financial Group upped their price objective on Vertex Pharmaceuticals from $295.00 to $340.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Credit Suisse Group upped their price objective on Vertex Pharmaceuticals from $298.00 to $328.00 and gave the company an “outperform” rating in a research report on Monday, July 20th. JMP Securities upped their price objective on Vertex Pharmaceuticals from $255.00 to $285.00 and gave the company a “market outperform” rating in a research report on Thursday, April 30th. SunTrust Banks upped their price objective on Vertex Pharmaceuticals from $285.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. Finally, Oppenheimer upped their price objective on Vertex Pharmaceuticals from $265.00 to $305.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $295.81.

NASDAQ:VRTX opened at $272.00 on Friday. The stock’s fifty day moving average is $287.06 and its 200 day moving average is $257.51. Vertex Pharmaceuticals has a fifty-two week low of $165.23 and a fifty-two week high of $306.08. The firm has a market capitalization of $72.44 billion, a PE ratio of 34.34, a PEG ratio of 1.35 and a beta of 0.94. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.42 and a current ratio of 3.54.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Thursday, July 30th. The pharmaceutical company reported $2.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.75 by $0.86. The company had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.41 billion. Vertex Pharmaceuticals had a return on equity of 30.45% and a net margin of 38.51%. Equities analysts forecast that Vertex Pharmaceuticals will post 7.33 EPS for the current year.

In other news, EVP Stuart A. Arbuckle sold 2,786 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $300.00, for a total value of $835,800.00. Following the completion of the transaction, the executive vice president now directly owns 36,743 shares in the company, valued at $11,022,900. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Charles F. Wagner, Jr. sold 700 shares of the firm’s stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $293.15, for a total value of $205,205.00. Following the completion of the transaction, the chief financial officer now owns 16,786 shares of the company’s stock, valued at $4,920,815.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 298,911 shares of company stock valued at $82,787,831. 0.70% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the company. Manchester Financial Inc. purchased a new position in shares of Vertex Pharmaceuticals in the second quarter worth about $30,000. OmniStar Financial Group Inc. purchased a new position in shares of Vertex Pharmaceuticals in the first quarter worth about $26,000. CX Institutional raised its stake in shares of Vertex Pharmaceuticals by 103.8% in the first quarter. CX Institutional now owns 108 shares of the pharmaceutical company’s stock worth $26,000 after purchasing an additional 55 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Vertex Pharmaceuticals in the first quarter worth about $28,000. Finally, Anderson Fisher LLC raised its stake in shares of Vertex Pharmaceuticals by 530.0% in the second quarter. Anderson Fisher LLC now owns 126 shares of the pharmaceutical company’s stock worth $37,000 after purchasing an additional 106 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene.

See Also: Hedge Funds

The Fly

Analyst Recommendations for Vertex Pharmaceuticals (NASDAQ:VRTX)

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