Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target Raised to $525.00

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price objective upped by Leerink Partners from $456.00 to $525.00 in a report published on Monday morning, Marketbeat.com reports. They currently have an outperform rating on the pharmaceutical company’s stock.

A number of other equities analysts have also recently weighed in on VRTX. Barclays upped their price objective on shares of Vertex Pharmaceuticals from $408.00 to $414.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 4th. JPMorgan Chase & Co. upped their price target on shares of Vertex Pharmaceuticals from $517.00 to $530.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. UBS Group upgraded Vertex Pharmaceuticals to a “strong-buy” rating in a research note on Thursday, December 4th. Leerink Partnrs upgraded Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 25th. Finally, Royal Bank Of Canada lowered their price target on Vertex Pharmaceuticals from $423.00 to $415.00 and set a “sector perform” rating on the stock in a research note on Tuesday, November 4th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $502.05.

Vertex Pharmaceuticals Trading Down 0.1%

Shares of NASDAQ:VRTX opened at $453.36 on Monday. The company has a market capitalization of $115.03 billion, a PE ratio of 31.97 and a beta of 0.32. The business has a 50 day moving average of $437.67 and a two-hundred day moving average of $426.36. Vertex Pharmaceuticals has a 12-month low of $362.50 and a 12-month high of $519.68.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share for the quarter, topping analysts’ consensus estimates of $4.58 by $0.22. Vertex Pharmaceuticals had a return on equity of 23.51% and a net margin of 31.35%.The company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same quarter in the prior year, the firm posted $4.38 EPS. Vertex Pharmaceuticals’s quarterly revenue was up 11.0% compared to the same quarter last year. Equities research analysts predict that Vertex Pharmaceuticals will post 15.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, EVP Charles F. Wagner, Jr. sold 14,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $456.00, for a total transaction of $6,384,000.00. Following the sale, the executive vice president owned 37,725 shares of the company’s stock, valued at approximately $17,202,600. This trade represents a 27.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Jeffrey M. Leiden sold 63,781 shares of the company’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $449.20, for a total transaction of $28,650,425.20. Following the completion of the sale, the chairman owned 24,026 shares of the company’s stock, valued at approximately $10,792,479.20. This trade represents a 72.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 151,073 shares of company stock worth $67,326,816. 0.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Vertex Pharmaceuticals by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 24,216,865 shares of the pharmaceutical company’s stock valued at $9,484,293,000 after buying an additional 243,088 shares during the last quarter. Capital Research Global Investors boosted its holdings in Vertex Pharmaceuticals by 2.8% in the 3rd quarter. Capital Research Global Investors now owns 16,553,281 shares of the pharmaceutical company’s stock worth $6,482,978,000 after acquiring an additional 444,990 shares during the period. Jennison Associates LLC grew its stake in shares of Vertex Pharmaceuticals by 21.5% during the second quarter. Jennison Associates LLC now owns 6,151,505 shares of the pharmaceutical company’s stock valued at $2,738,650,000 after acquiring an additional 1,089,063 shares in the last quarter. Geode Capital Management LLC raised its holdings in Vertex Pharmaceuticals by 2.9% in the second quarter. Geode Capital Management LLC now owns 5,928,747 shares of the pharmaceutical company’s stock valued at $2,627,135,000 after acquiring an additional 166,987 shares in the last quarter. Finally, Capital International Investors lifted its holdings in Vertex Pharmaceuticals by 77.9% during the 3rd quarter. Capital International Investors now owns 4,689,059 shares of the pharmaceutical company’s stock worth $1,836,550,000 after buying an additional 2,053,156 shares during the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.