Analysts’ Weekly Ratings Updates for Vertex Pharmaceuticals (VRTX)

Several analysts have recently updated their ratings and price targets for Vertex Pharmaceuticals (NASDAQ: VRTX):

• 7/26/2024 – Vertex Pharmaceuticals had its “hold” rating reaffirmed by analysts at Needham & Company LLC.
• 7/26/2024 – Vertex Pharmaceuticals was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 7/23/2024 – Vertex Pharmaceuticals had its price target raised by analysts at TD Cowen from $450.00 to $500.00. They now have a “buy” rating on the stock.
• 7/22/2024 – Vertex Pharmaceuticals had its price target raised by analysts at Cantor Fitzgerald from $440.00 to $480.00. They now have an “overweight” rating on the stock.
• 7/19/2024 – Vertex Pharmaceuticals had its price target raised by analysts at HC Wainwright from $462.00 to $500.00. They now have a “buy” rating on the stock.
• 7/11/2024 – Vertex Pharmaceuticals had its price target raised by analysts at Morgan Stanley from $402.00 to $455.00. They now have an “equal weight” rating on the stock.
• 7/2/2024 – Vertex Pharmaceuticals was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
• 6/27/2024 – Vertex Pharmaceuticals is now covered by analysts at Redburn Atlantic. They set a “buy” rating and a $545.00 price target on the stock.
• 6/24/2024 – Vertex Pharmaceuticals had its price target raised by analysts at Wells Fargo & Company from $540.00 to $555.00. They now have an “overweight” rating on the stock.
• 6/24/2024 – Vertex Pharmaceuticals was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 6/17/2024 – Vertex Pharmaceuticals had its price target raised by analysts at Argus from $465.00 to $550.00. They now have a “buy” rating on the stock.
• 6/14/2024 – Vertex Pharmaceuticals was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
• 6/11/2024 – Vertex Pharmaceuticals had its price target lowered by analysts at Royal Bank of Canada from $424.00 to $421.00. They now have a “sector perform” rating on the stock.
• 6/4/2024 – Vertex Pharmaceuticals had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $424.00 price target on the stock.
• 6/4/2024 – Vertex Pharmaceuticals was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 5/31/2024 – Vertex Pharmaceuticals had its price target raised by analysts at BMO Capital Markets from $480.00 to $500.00. They now have an “outperform” rating on the stock.

Vertex Pharmaceuticals Trading Up 0.9 %

Shares of NASDAQ VRTX traded up $4.45 during mid-day trading on Tuesday, hitting $502.60. The stock had a trading volume of 1,035,459 shares, compared to its average volume of 1,203,100. The firm has a market cap of $129.70 billion, a P/E ratio of 32.62, a price-to-earnings-growth ratio of 2.61 and a beta of 0.39. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.29 and a current ratio of 3.50. The business has a 50 day moving average price of $475.22 and a two-hundred day moving average price of $437.98. Vertex Pharmaceuticals Incorporated has a 1 year low of $340.20 and a 1 year high of $506.15.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 EPS for the quarter, topping the consensus estimate of $3.66 by $1.10. Vertex Pharmaceuticals had a net margin of 39.46% and a return on equity of 23.08%. The firm had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same period last year, the company posted $2.67 EPS. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. On average, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 14.83 EPS for the current fiscal year.

Insider Activity at Vertex Pharmaceuticals

In other news, CEO Reshma Kewalramani sold 1,565 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $457.00, for a total value of $715,205.00. Following the transaction, the chief executive officer now owns 121,374 shares in the company, valued at approximately $55,467,918. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Vertex Pharmaceuticals news, CEO Reshma Kewalramani sold 1,565 shares of the company’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 value of $715,205.00. Following the completion of the transaction, the chief executive officer now directly owns 121,374 shares in the company, valued at approximately $55,467,918. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ourania Tatsis sold 2,350 shares of Vertex Pharmaceuticals stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $439.11, for a total transaction of $1,031,908.50. Following the completion of the sale, the executive vice president now owns 53,523 shares in the company, valued at $23,502,484.53. The disclosure for this sale can be found here. Insiders have sold a total of 48,128 shares of company stock worth $22,839,005 over the last quarter. 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 stock. University of Texas Texas AM Investment Managment Co. purchased a new stake in Vertex Pharmaceuticals in the fourth quarter worth $25,000. Annapolis Financial Services LLC bought a new position in shares of Vertex Pharmaceuticals in the first quarter worth about $27,000. Arlington Trust Co LLC increased its stake in Vertex Pharmaceuticals by 97.1% in 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 period. Stephens Consulting LLC bought a new stake in Vertex Pharmaceuticals during the 2nd quarter valued at about $31,000. Finally, ICA Group Wealth Management LLC purchased a new stake in Vertex Pharmaceuticals in the 4th quarter valued at about $28,000. 90.96% of the stock is owned by institutional investors.

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.