Vertex Pharmaceuticals (NASDAQ:VRTX) Given New $450.00 Price Target at Guggenheim

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price target upped by equities researchers at Guggenheim from $445.00 to $450.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the pharmaceutical company’s stock. Guggenheim’s price objective indicates a potential upside of 14.47% from the company’s current price.

VRTX has been the subject of several other reports. Robert W. Baird downgraded shares of Vertex Pharmaceuticals from a “neutral” rating to an “underperform” rating and set a $325.00 price objective for the company. in a report on Wednesday, January 31st. JPMorgan Chase & Co. raised their price target on shares of Vertex Pharmaceuticals from $390.00 to $438.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Cantor Fitzgerald reissued an “overweight” rating and issued a $440.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, February 20th. Truist Financial raised their price target on shares of Vertex Pharmaceuticals from $456.00 to $508.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Finally, Wolfe Research began coverage on shares of Vertex Pharmaceuticals in a report on Thursday, February 15th. They issued an “outperform” rating and a $515.00 price target for the company. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $429.45.

Vertex Pharmaceuticals Trading Down 0.3 %

Shares of VRTX stock opened at $393.10 on Thursday. Vertex Pharmaceuticals has a 52-week low of $316.43 and a 52-week high of $448.40. The company has a 50-day simple moving average of $414.76 and a two-hundred day simple moving average of $396.76. The company has a market capitalization of $101.60 billion, a price-to-earnings ratio of 28.30, a PEG ratio of 1.84 and a beta of 0.35. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.78 and a current ratio of 3.99.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, February 5th. The pharmaceutical company reported $4.20 earnings per share for the quarter, beating analysts’ consensus estimates of $3.85 by $0.35. Vertex Pharmaceuticals had a net margin of 36.68% and a return on equity of 21.91%. The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the firm earned $3.33 EPS. Research analysts anticipate that Vertex Pharmaceuticals will post 15.08 EPS for the current fiscal year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Amit Sachdev sold 3,222 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $420.24, for a total value of $1,354,013.28. Following the transaction, the executive vice president now owns 74,364 shares in the company, valued at $31,250,727.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Amit Sachdev sold 3,222 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $420.24, for a total transaction of $1,354,013.28. Following the transaction, the executive vice president now owns 74,364 shares in the company, valued at $31,250,727.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Stuart A. Arbuckle sold 4,295 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $420.24, for a total transaction of $1,804,930.80. Following the transaction, the chief operating officer now owns 75,718 shares in the company, valued at approximately $31,819,732.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,381 shares of company stock worth $5,203,249. 0.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Vertex Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of VRTX. OFI Invest Asset Management purchased a new stake in Vertex Pharmaceuticals in the third quarter worth about $25,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in Vertex Pharmaceuticals in the fourth quarter worth about $25,000. Arlington Trust Co LLC grew its holdings in Vertex Pharmaceuticals by 97.1% in the fourth quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 33 shares during the period. Annapolis Financial Services LLC purchased a new stake in Vertex Pharmaceuticals in the first quarter worth about $27,000. Finally, ICA Group Wealth Management LLC purchased a new stake in Vertex Pharmaceuticals in the fourth quarter worth about $28,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

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.