Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Receives $503.80 Consensus PT from Analysts

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) has been given an average rating of “Moderate Buy” by the twenty-eight ratings firms that are covering the company, MarketBeat reports. Eight investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $503.80.

A number of analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on Vertex Pharmaceuticals from $517.00 to $530.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. UBS Group began coverage on Vertex Pharmaceuticals in a research report on Tuesday, January 6th. They set a “buy” rating and a $535.00 target price on the stock. Scotiabank initiated coverage on Vertex Pharmaceuticals in a report on Thursday, November 13th. They issued a “sector outperform” rating and a $495.00 price target for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a research note on Wednesday, October 8th. Finally, Barclays boosted 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.

Vertex Pharmaceuticals Stock Up 0.6%

Vertex Pharmaceuticals stock traded up $2.44 during trading on Friday, reaching $441.36. The stock had a trading volume of 2,047,068 shares, compared to its average volume of 1,226,691. Vertex Pharmaceuticals has a 52-week low of $362.50 and a 52-week high of $519.68. The stock has a market cap of $111.98 billion, a PE ratio of 31.13 and a beta of 0.31. The business has a 50 day moving average price of $446.59 and a 200 day moving average price of $427.29.

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

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, Chairman Jeffrey M. Leiden sold 63,781 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $449.20, for a total value of $28,650,425.20. Following the completion of the sale, the chairman directly owned 24,026 shares of the company’s stock, valued at $10,792,479.20. This represents a 72.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Charles F. Wagner, Jr. sold 14,000 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $456.00, for a total value of $6,384,000.00. Following the transaction, the executive vice president directly owned 37,725 shares in the company, valued at approximately $17,202,600. This trade represents a 27.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 165,105 shares of company stock worth $73,858,523 over the last 90 days. Corporate insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BridgePort Financial Solutions LLC lifted its holdings in shares of Vertex Pharmaceuticals by 22.0% during the fourth quarter. BridgePort Financial Solutions LLC now owns 1,209 shares of the pharmaceutical company’s stock worth $548,000 after purchasing an additional 218 shares during the period. Beaumont Financial Advisors LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth $220,000. Wall Street Financial Group Inc. acquired a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth $209,000. Blue Trust Inc. boosted its holdings in shares of Vertex Pharmaceuticals by 135.4% in the fourth quarter. Blue Trust Inc. now owns 1,337 shares of the pharmaceutical company’s stock valued at $606,000 after acquiring an additional 769 shares in the last quarter. Finally, F&V Capital Management LLC acquired a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth about $1,652,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

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.