Bank of America Increases Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target to $567.00

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price target raised by Bank of America from $555.00 to $567.00 in a research note released on Monday morning,Benzinga reports. They currently have a buy rating on the pharmaceutical company’s stock.

Other equities analysts have also recently issued research reports about the company. Morgan Stanley raised their price objective on Vertex Pharmaceuticals from $450.00 to $459.00 and gave the company an “equal weight” rating in a report on Tuesday, February 11th. BMO Capital Markets set a $545.00 price objective on Vertex Pharmaceuticals in a research note on Friday, January 31st. William Blair reissued an “outperform” rating on shares of Vertex Pharmaceuticals in a report on Friday, January 31st. Truist Financial boosted their target price on shares of Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Finally, HC Wainwright reiterated a “buy” rating and issued a $550.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Ten research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $508.65.

Vertex Pharmaceuticals Stock Down 1.6 %

NASDAQ:VRTX opened at $484.82 on Monday. The company has a market cap of $124.50 billion, a PE ratio of -220.37, a PEG ratio of 2.11 and a beta of 0.41. The stock has a 50-day simple moving average of $477.71 and a 200 day simple moving average of $463.68. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69. Vertex Pharmaceuticals has a 52-week low of $377.85 and a 52-week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. On average, sell-side analysts expect that Vertex Pharmaceuticals will post 15.63 EPS for the current fiscal year.

Insider Activity

In related news, EVP Ourania Tatsis sold 244 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total value of $111,034.64. Following the completion of the transaction, the executive vice president now owns 67,695 shares of the company’s stock, valued at $30,805,286.70. The trade was a 0.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP David Altshuler sold 3,231 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the sale, the executive vice president now owns 26,512 shares in the company, valued at $13,256,000. The trade was a 10.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,315 shares of company stock worth $2,121,012. Corporate insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dunhill Financial LLC raised its holdings in shares of Vertex Pharmaceuticals by 70.6% during the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after buying an additional 24 shares in the last quarter. Brown Lisle Cummings Inc. acquired a new stake in Vertex Pharmaceuticals in the fourth quarter valued at about $30,000. Mascagni Wealth Management Inc. bought a new position in Vertex Pharmaceuticals in the fourth quarter valued at about $31,000. Legacy Investment Solutions LLC acquired a new position in Vertex Pharmaceuticals during the third quarter worth about $33,000. Finally, Sugar Maple Asset Management LLC bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth about $35,000. 90.96% of the stock is currently 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.