Barclays Lowers Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target to $285.00

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price target dropped by research analysts at Barclays from $302.00 to $285.00 in a research note issued on Friday, Analyst Ratings Network reports. The brokerage presently has an “overweight” rating on the pharmaceutical company’s stock. Barclays‘s price objective would indicate a potential upside of 31.48% from the company’s current price.

Several other brokerages also recently weighed in on VRTX. Cantor Fitzgerald dropped their price objective on Vertex Pharmaceuticals from $285.00 to $281.00 and set an “overweight” rating for the company in a research report on Friday. Royal Bank of Canada lowered their target price on Vertex Pharmaceuticals from $262.00 to $242.00 and set an “outperform” rating for the company in a research note on Friday. Zacks Investment Research upgraded shares of Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and set a $226.00 price target on the stock in a research note on Wednesday, May 5th. Robert W. Baird decreased their price target on shares of Vertex Pharmaceuticals from $252.00 to $240.00 and set an “outperform” rating on the stock in a report on Friday. They noted that the move was a valuation call. Finally, Morgan Stanley dropped their price objective on shares of Vertex Pharmaceuticals from $254.00 to $205.00 and set an “equal weight” rating for the company in a research note on Friday. Six equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $280.85.

Shares of NASDAQ:VRTX opened at $216.77 on Friday. The firm has a 50 day moving average price of $213.96. Vertex Pharmaceuticals has a 12 month low of $202.57 and a 12 month high of $306.08. The company has a quick ratio of 4.24, a current ratio of 4.39 and a debt-to-equity ratio of 0.06. The firm has a market cap of $56.11 billion, a PE ratio of 20.64, a PEG ratio of 1.89 and a beta of 0.68.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Thursday, April 29th. The pharmaceutical company reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.60. Vertex Pharmaceuticals had a net margin of 43.06% and a return on equity of 29.61%. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.66 billion. On average, sell-side analysts forecast that Vertex Pharmaceuticals will post 9.42 EPS for the current fiscal year.

In related news, EVP Amit Sachdev sold 3,884 shares of Vertex Pharmaceuticals stock in a transaction on Tuesday, April 27th. The shares were sold at an average price of $216.06, for a total transaction of $839,177.04. Following the completion of the transaction, the executive vice president now owns 44,017 shares of the company’s stock, valued at $9,510,313.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Sangeeta N. Bhatia sold 559 shares of the business’s stock in a transaction on Wednesday, June 2nd. The shares were sold at an average price of $209.69, for a total transaction of $117,216.71. Following the completion of the transaction, the director now owns 5,465 shares in the company, valued at approximately $1,145,955.85. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,089 shares of company stock worth $1,527,127. 0.30% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in VRTX. Advisory Services Network LLC grew its stake in Vertex Pharmaceuticals by 40.9% during the first quarter. Advisory Services Network LLC now owns 2,934 shares of the pharmaceutical company’s stock worth $632,000 after purchasing an additional 852 shares during the period. Rehmann Capital Advisory Group lifted its stake in Vertex Pharmaceuticals by 15.3% in the first quarter. Rehmann Capital Advisory Group now owns 2,103 shares of the pharmaceutical company’s stock valued at $451,000 after buying an additional 279 shares during the period. Schroder Investment Management Group boosted its holdings in shares of Vertex Pharmaceuticals by 1.6% during the 1st quarter. Schroder Investment Management Group now owns 25,960 shares of the pharmaceutical company’s stock worth $5,579,000 after buying an additional 401 shares in the last quarter. Strategic Wealth Partners Ltd. grew its position in shares of Vertex Pharmaceuticals by 144.8% during the 1st quarter. Strategic Wealth Partners Ltd. now owns 2,514 shares of the pharmaceutical company’s stock worth $540,000 after buying an additional 1,487 shares during the period. Finally, Pendal Group Limited increased its stake in shares of Vertex Pharmaceuticals by 35.6% in the 1st quarter. Pendal Group Limited now owns 17,562 shares of the pharmaceutical company’s stock valued at $3,774,000 after acquiring an additional 4,609 shares in the last quarter. 90.06% of the stock is currently owned by institutional investors.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals, Inc is a global biotechnology company. It engages in the business of discovering, developing, manufacturing and commercializing small molecule drugs for patients with serious diseases. The firm focuses on development and commercializing therapies for the treatment of cystic fibrosis, infectious diseases including viral infections such as influenza and bacterial infections, autoimmune diseases such as rheumatoid arthritis, cancer, inflammatory bowel disease and neurological disorders including pain and multiple sclerosis.

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Analyst Recommendations for Vertex Pharmaceuticals (NASDAQ:VRTX)

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