Vertex Pharmaceuticals (NASDAQ:VRTX) Given New $450.00 Price Target at Guggenheim

Vertex Pharmaceuticals (NASDAQ:VRTX) had its target price upped by Guggenheim from $445.00 to $450.00 in a research report released on Thursday morning, Benzinga reports. Guggenheim currently has a buy rating on the pharmaceutical company’s stock.

VRTX has been the topic of a number of other reports. Sanford C. Bernstein cut shares of Vertex Pharmaceuticals from an outperform rating to a market perform rating in a report on Friday, February 2nd. Robert W. Baird downgraded Vertex Pharmaceuticals from a neutral rating to an underperform rating and set a $325.00 price target for the company. in a research report on Wednesday, January 31st. Oppenheimer reiterated an outperform rating and set a $500.00 price target on shares of Vertex Pharmaceuticals in a report on Monday. Truist Financial upped their price objective on Vertex Pharmaceuticals from $456.00 to $508.00 and gave the company a buy rating in a research note on Wednesday, January 31st. Finally, Wolfe Research began coverage on Vertex Pharmaceuticals in a research note on Thursday, February 15th. They set an outperform rating and a $515.00 target price on the stock. Three research analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Vertex Pharmaceuticals presently has an average rating of Moderate Buy and a consensus price target of $429.45.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $393.48 on Thursday. The stock has a market cap of $101.70 billion, a price-to-earnings ratio of 28.33, a PEG ratio of 1.85 and a beta of 0.35. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.78 and a current ratio of 3.99. Vertex Pharmaceuticals has a fifty-two week low of $316.43 and a fifty-two week high of $448.40. The firm’s 50-day simple moving average is $414.17 and its 200 day simple moving average is $396.74.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, February 5th. The pharmaceutical company reported $4.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.85 by $0.35. Vertex Pharmaceuticals had a return on equity of 21.91% and a net margin of 36.68%. The business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the company posted $3.33 earnings per share. As a group, research analysts anticipate that Vertex Pharmaceuticals will post 14.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 354 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $23,755,762.80. 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 stock in a transaction on Monday, February 12th. The shares were sold at an average price of $420.24, for a total value of $1,354,013.28. Following the transaction, 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 Securities & Exchange Commission, which is available through this link. Also, EVP Ourania Tatsis sold 354 shares of Vertex Pharmaceuticals stock in a transaction on Monday, February 26th. The stock was sold at an average price of $425.70, for a total transaction of $150,697.80. Following the sale, the executive vice president now directly owns 55,804 shares of the company’s stock, valued at $23,755,762.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,381 shares of company stock valued at $5,203,249. Company insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. LSV Asset Management raised its holdings in shares of Vertex Pharmaceuticals by 206.3% during the 1st quarter. LSV Asset Management now owns 4,751 shares of the pharmaceutical company’s stock valued at $1,240,000 after buying an additional 3,200 shares in the last quarter. Synovus Financial Corp lifted its holdings in shares of Vertex Pharmaceuticals by 9.6% in the 1st quarter. Synovus Financial Corp now owns 6,737 shares of the pharmaceutical company’s stock worth $1,759,000 after acquiring an additional 590 shares during the last quarter. Cibc World Market Inc. boosted its stake in shares of Vertex Pharmaceuticals by 69.4% in the 1st quarter. Cibc World Market Inc. now owns 6,622 shares of the pharmaceutical company’s stock valued at $1,728,000 after purchasing an additional 2,713 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Vertex Pharmaceuticals by 28.4% during the 1st quarter. Sei Investments Co. now owns 44,090 shares of the pharmaceutical company’s stock valued at $11,756,000 after purchasing an additional 9,761 shares during the last quarter. Finally, Cetera Investment Advisers raised its position in Vertex Pharmaceuticals by 4.0% in the 1st quarter. Cetera Investment Advisers now owns 14,114 shares of the pharmaceutical company’s stock worth $3,683,000 after purchasing an additional 544 shares during the period. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Company Profile

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.