HC Wainwright Raises Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target to $500.00

Vertex Pharmaceuticals (NASDAQ:VRTX) had its target price raised by HC Wainwright from $462.00 to $500.00 in a research report report published on Friday morning, Benzinga reports. HC Wainwright currently has a buy rating on the pharmaceutical company’s stock.

A number of other analysts also recently issued reports on the stock. Canaccord Genuity Group reiterated a sell rating and issued a $371.00 price objective on shares of Vertex Pharmaceuticals in a report on Friday, April 12th. Morgan Stanley boosted their price target on shares of Vertex Pharmaceuticals from $402.00 to $455.00 and gave the stock an equal weight rating in a research report on Thursday, July 11th. Redburn Atlantic started coverage on Vertex Pharmaceuticals in a report on Thursday, June 27th. They set a buy rating and a $545.00 target price on the stock. Piper Sandler increased their price target on Vertex Pharmaceuticals from $450.00 to $456.00 and gave the company an overweight rating in a research report on Tuesday, May 7th. Finally, Evercore ISI raised Vertex Pharmaceuticals from an in-line rating to an outperform rating and set a $438.00 price target on the stock in a research report on Thursday, April 11th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of Moderate Buy and a consensus price target of $456.68.

Vertex Pharmaceuticals Trading Up 0.7 %

Shares of NASDAQ:VRTX opened at $491.57 on Friday. The firm has a market cap of $126.85 billion, a price-to-earnings ratio of 31.90, a PEG ratio of 2.54 and a beta of 0.39. Vertex Pharmaceuticals has a 12 month low of $340.20 and a 12 month high of $496.93. The company’s fifty day simple moving average is $468.52 and its 200 day simple moving average is $434.91. 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 (NASDAQ:VRTX) last released its quarterly earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.66 by $1.10. The firm had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.58 billion. Vertex Pharmaceuticals had a return on equity of 23.08% and a net margin of 39.46%. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter last year, the business posted $2.67 EPS. As a group, research analysts forecast that Vertex Pharmaceuticals will post 15.16 EPS for the current fiscal year.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 2,280 shares of the business’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $487.34, for a total value of $1,111,135.20. Following the completion of the sale, the chief marketing officer now owns 27,819 shares of the company’s stock, valued at approximately $13,557,311.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 2,280 shares of Vertex Pharmaceuticals stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $487.34, for a total value of $1,111,135.20. Following the completion of the transaction, the chief marketing officer now directly owns 27,819 shares of the company’s stock, valued at approximately $13,557,311.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bruce I. Sachs sold 7,073 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $448.00, for a total value of $3,168,704.00. Following the sale, the director now owns 40,000 shares of the company’s stock, valued at $17,920,000. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,646 shares of company stock worth $14,169,923. Corporate insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Vertex Pharmaceuticals

Several hedge funds have recently bought and sold shares of VRTX. University of Texas Texas AM Investment Managment Co. bought a new position in Vertex Pharmaceuticals in the fourth quarter valued at approximately $25,000. Arlington Trust Co LLC lifted 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 buying an additional 33 shares during the last quarter. Annapolis Financial Services LLC acquired a new stake in Vertex Pharmaceuticals in the first quarter valued at about $27,000. ICA Group Wealth Management LLC bought a new position in Vertex Pharmaceuticals in the fourth quarter valued at about $28,000. Finally, Fortitude Family Office LLC acquired a new position in Vertex Pharmaceuticals during the fourth quarter worth about $30,000. 90.96% of the stock is owned by institutional investors.

About Vertex Pharmaceuticals

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.