Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target Increased to $555.00 by Analysts at Wells Fargo & Company

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price objective boosted by Wells Fargo & Company from $540.00 to $555.00 in a report released on Monday, Benzinga reports. The firm currently has an overweight rating on the pharmaceutical company’s stock.

A number of other analysts have also recently commented on the stock. Evercore ISI upgraded shares of Vertex Pharmaceuticals from an in-line rating to an outperform rating and set a $438.00 price objective for the company in a research report on Thursday, April 11th. Piper Sandler upped their target price on shares of Vertex Pharmaceuticals from $450.00 to $456.00 and gave the stock an overweight rating in a research note on Tuesday, May 7th. UBS Group reduced their target price on shares of Vertex Pharmaceuticals from $498.00 to $466.00 and set a buy rating for the company in a research note on Wednesday, April 17th. StockNews.com raised shares of Vertex Pharmaceuticals from a buy rating to a strong-buy rating in a research note on Friday, June 14th. Finally, Royal Bank of Canada reduced their target price on shares of Vertex Pharmaceuticals from $424.00 to $421.00 and set a sector perform rating for the company in a research note on Tuesday, June 11th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $448.61.

Vertex Pharmaceuticals Price Performance

VRTX opened at $472.51 on Monday. The company has a quick ratio of 3.29, a current ratio of 3.50 and a debt-to-equity ratio of 0.02. Vertex Pharmaceuticals has a 12 month low of $335.82 and a 12 month high of $486.42. The company has a fifty day simple moving average of $441.82 and a 200 day simple moving average of $425.06. The stock has a market cap of $121.93 billion, a P/E ratio of 30.66, a P/E/G ratio of 2.43 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, May 6th. The pharmaceutical company reported $4.76 EPS for the quarter, beating analysts’ consensus estimates of $3.66 by $1.10. Vertex Pharmaceuticals had a net margin of 39.46% and a return on equity of 23.08%. The business had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter in the prior year, the company earned $2.67 EPS. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. On average, research analysts expect that Vertex Pharmaceuticals will post 15.22 EPS for the current year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 2,280 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $478.00, for a total value of $1,089,840.00. Following the transaction, the chief marketing officer now directly owns 32,379 shares of the company’s stock, valued at approximately $15,477,162. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CMO Carmen Bozic sold 2,280 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $478.00, for a total transaction of $1,089,840.00. Following the transaction, the chief marketing officer now directly owns 32,379 shares of the company’s stock, valued at $15,477,162. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Reshma Kewalramani sold 1,565 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $457.00, for a total transaction of $715,205.00. Following the transaction, the chief executive officer now directly owns 121,374 shares in the company, valued at $55,467,918. The disclosure for this sale can be found here. Insiders have sold a total of 26,086 shares of company stock valued at $11,983,266 in the last three months. 0.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in VRTX. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $25,000. Arlington Trust Co LLC boosted its position in shares of Vertex Pharmaceuticals by 97.1% during the 4th quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock worth $27,000 after acquiring an additional 33 shares in the last quarter. Annapolis Financial Services LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 1st quarter worth approximately $27,000. ICA Group Wealth Management LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $28,000. Finally, Fortitude Family Office LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $30,000. 90.96% of the stock is owned by institutional investors.

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.