Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target Raised to $575.00

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price objective boosted by Citigroup from $550.00 to $575.00 in a research note released on Thursday, MarketBeat.com reports. Citigroup currently has a buy rating on the pharmaceutical company’s stock.

Other equities research analysts have also issued reports about the company. Guggenheim decreased their price objective on Vertex Pharmaceuticals from $558.00 to $546.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. Scotiabank decreased their price objective on Vertex Pharmaceuticals from $442.00 to $438.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 5th. Wells Fargo & Company upgraded Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and set a $460.00 price objective for the company in a research report on Wednesday, August 6th. Cantor Fitzgerald decreased their price objective on Vertex Pharmaceuticals from $535.00 to $485.00 and set an “overweight” rating for the company in a research report on Tuesday, August 5th. Finally, Stifel Nicolaus decreased their price objective on Vertex Pharmaceuticals from $494.00 to $455.00 and set a “hold” rating for the company in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $493.81.

Vertex Pharmaceuticals Stock Down 1.4%

NASDAQ:VRTX opened at $403.30 on Thursday. Vertex Pharmaceuticals has a 1-year low of $362.50 and a 1-year high of $519.88. The firm has a market capitalization of $103.40 billion, a price-to-earnings ratio of 28.83 and a beta of 0.43. The stock has a fifty day simple moving average of $399.12 and a 200 day simple moving average of $442.50.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share for the quarter, beating analysts’ consensus estimates of $4.24 by $0.28. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The business had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same quarter last year, the company posted ($12.83) EPS. Vertex Pharmaceuticals’s revenue for the quarter was up 11.3% on a year-over-year basis. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Equities analysts predict that Vertex Pharmaceuticals will post 15.63 earnings per share for the current year.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs purchased 5,000 shares of the company’s stock in a transaction on Wednesday, August 6th. The shares were bought at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following the transaction, the director directly owned 45,000 shares in the company, valued at approximately $17,535,600. This represents a 12.50% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Aaron Wealth Advisors LLC increased its position in Vertex Pharmaceuticals by 21.8% in the 3rd quarter. Aaron Wealth Advisors LLC now owns 3,922 shares of the pharmaceutical company’s stock worth $1,536,000 after buying an additional 703 shares during the period. Shorepoint Capital Partners LLC bought a new position in Vertex Pharmaceuticals in the 3rd quarter worth approximately $4,075,000. Reynders McVeigh Capital Management LLC increased its position in Vertex Pharmaceuticals by 1.8% in the 2nd quarter. Reynders McVeigh Capital Management LLC now owns 54,310 shares of the pharmaceutical company’s stock worth $24,179,000 after buying an additional 974 shares during the period. Total Investment Management Inc. bought a new position in Vertex Pharmaceuticals in the 2nd quarter worth approximately $33,000. Finally, Centaurus Financial Inc. increased its position in Vertex Pharmaceuticals by 2.6% in the 2nd quarter. Centaurus Financial Inc. now owns 2,372 shares of the pharmaceutical company’s stock worth $1,056,000 after buying an additional 61 shares during the period. 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.