Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Receives Average Rating of “Hold” from Brokerages

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) has been given a consensus rating of “Hold” by the twenty-nine research firms that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $495.96.

VRTX has been the topic of several research reports. UBS Group upped their price target on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, July 26th. JPMorgan Chase & Co. reduced their price target on Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Truist Financial reiterated a “buy” rating and set a $550.00 target price (up from $508.00) on shares of Vertex Pharmaceuticals in a research report on Monday, August 5th. Finally, Canaccord Genuity Group boosted their price target on Vertex Pharmaceuticals from $361.00 to $408.00 and gave the company a “sell” rating in a research note on Wednesday, November 6th.

Vertex Pharmaceuticals Stock Down 2.9 %

VRTX stock opened at $501.72 on Tuesday. The stock has a market capitalization of $129.21 billion, a P/E ratio of -252.12 and a beta of 0.39. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.26. Vertex Pharmaceuticals has a fifty-two week low of $341.90 and a fifty-two week high of $519.88. The business has a 50-day moving average of $475.40 and a 200-day moving average of $468.93.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, topping analysts’ consensus estimates of $3.61 by $0.77. The company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the company earned $3.67 earnings per share. On average, sell-side analysts anticipate that Vertex Pharmaceuticals will post -1.82 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $499.00, for a total value of $1,888,216.00. Following the sale, the chairman now directly owns 9,994 shares in the company, valued at $4,987,006. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $499.00, for a total value of $1,888,216.00. Following the transaction, the chairman now owns 9,994 shares in the company, valued at $4,987,006. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sangeeta N. Bhatia sold 646 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $500.00, for a total value of $323,000.00. Following the sale, the director now owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Vertex Pharmaceuticals

Several institutional investors have recently made changes to their positions in the stock. Quent Capital LLC grew its position in Vertex Pharmaceuticals by 33.0% in the 1st quarter. Quent Capital LLC now owns 399 shares of the pharmaceutical company’s stock valued at $167,000 after purchasing an additional 99 shares during the period. Atomi Financial Group Inc. grew its holdings in shares of Vertex Pharmaceuticals by 21.5% during the first quarter. Atomi Financial Group Inc. now owns 882 shares of the pharmaceutical company’s stock valued at $369,000 after buying an additional 156 shares during the last quarter. Concurrent Investment Advisors LLC increased its position in shares of Vertex Pharmaceuticals by 93.2% during the first quarter. Concurrent Investment Advisors LLC now owns 1,287 shares of the pharmaceutical company’s stock worth $538,000 after acquiring an additional 621 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in shares of Vertex Pharmaceuticals by 13.4% in the 1st quarter. Meeder Asset Management Inc. now owns 591 shares of the pharmaceutical company’s stock worth $247,000 after acquiring an additional 70 shares during the last quarter. Finally, Williams Jones Wealth Management LLC. lifted its position in Vertex Pharmaceuticals by 9.6% in the 1st quarter. Williams Jones Wealth Management LLC. now owns 1,141 shares of the pharmaceutical company’s stock valued at $477,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Company Profile

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.