Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Given Consensus Recommendation of “Moderate Buy” by Analysts

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) has been given a consensus rating of “Moderate Buy” by the twenty-five ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and twenty-two have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $555.9130.

Several brokerages recently issued reports on VRTX. Weiss Ratings upgraded Vertex Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Royal Bank Of Canada increased their price objective on Vertex Pharmaceuticals from $541.00 to $543.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $590.00 price objective on shares of Vertex Pharmaceuticals in a report on Friday, February 13th. Wall Street Zen lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. Finally, Morgan Stanley increased their price objective on Vertex Pharmaceuticals from $612.00 to $616.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th.

Insider Buying and Selling

In related news, CMO Carmen Bozic sold 1,745 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $450.00, for a total transaction of $785,250.00. Following the completion of the sale, the chief marketing officer directly owned 21,015 shares in the company, valued at approximately $9,456,750. This trade represents a 7.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sangeeta N. Bhatia sold 318 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $423.73, for a total value of $134,746.14. Following the sale, the director owned 4,924 shares of the company’s stock, valued at approximately $2,086,446.52. This represents a 6.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 13,462 shares of company stock worth $6,095,195. Corporate insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Vertex Pharmaceuticals

Several institutional investors have recently bought and sold shares of the stock. Earned Wealth Advisors LLC raised its holdings in Vertex Pharmaceuticals by 3.3% during the fourth quarter. Earned Wealth Advisors LLC now owns 650 shares of the pharmaceutical company’s stock valued at $295,000 after buying an additional 21 shares in the last quarter. Confluence Wealth Services Inc. raised its holdings in Vertex Pharmaceuticals by 4.0% during the fourth quarter. Confluence Wealth Services Inc. now owns 545 shares of the pharmaceutical company’s stock valued at $247,000 after buying an additional 21 shares in the last quarter. Williams Jones Wealth Management LLC. raised its holdings in Vertex Pharmaceuticals by 1.9% during the fourth quarter. Williams Jones Wealth Management LLC. now owns 1,155 shares of the pharmaceutical company’s stock valued at $524,000 after buying an additional 21 shares in the last quarter. Childress Capital Advisors LLC raised its holdings in Vertex Pharmaceuticals by 3.1% during the fourth quarter. Childress Capital Advisors LLC now owns 730 shares of the pharmaceutical company’s stock valued at $331,000 after buying an additional 22 shares in the last quarter. Finally, Cannell & Spears LLC raised its holdings in Vertex Pharmaceuticals by 1.2% during the first quarter. Cannell & Spears LLC now owns 1,983 shares of the pharmaceutical company’s stock valued at $885,000 after buying an additional 23 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Stock Up 0.6%

Shares of Vertex Pharmaceuticals stock opened at $445.77 on Wednesday. The stock has a market cap of $113.14 billion, a PE ratio of 26.44, a price-to-earnings-growth ratio of 1.89 and a beta of 0.30. The business has a fifty day simple moving average of $437.37 and a 200-day simple moving average of $452.16. Vertex Pharmaceuticals has a 12 month low of $362.50 and a 12 month high of $507.92.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 EPS for the quarter, topping the consensus estimate of $4.24 by $0.23. The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.99 billion. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.Vertex Pharmaceuticals’s revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm posted $4.06 earnings per share. Analysts expect that Vertex Pharmaceuticals will post 17.02 EPS for the current fiscal year.

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.