Vertex Pharmaceuticals (NASDAQ:VRTX) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price target boosted by stock analysts at Royal Bank of Canada from $437.00 to $451.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “sector perform” rating on the pharmaceutical company’s stock. Royal Bank of Canada’s price target would indicate a potential downside of 8.64% from the stock’s current price.

A number of other research analysts have also recently issued reports on the company. UBS Group lifted their price objective on Vertex Pharmaceuticals from $477.00 to $562.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. lowered their price target on Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating for the company in a research report on Tuesday. Raymond James reissued a “market perform” rating on shares of Vertex Pharmaceuticals in a research report on Thursday, October 10th. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday, July 26th. Finally, TD Cowen upped their target price on shares of Vertex Pharmaceuticals from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $495.96.

Vertex Pharmaceuticals Stock Down 1.2 %

NASDAQ:VRTX opened at $493.64 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.52 and a quick ratio of 2.26. The firm’s 50-day moving average price is $474.81 and its 200-day moving average price is $466.95. The company has a market capitalization of $127.41 billion, a PE ratio of -248.06 and a beta of 0.39. Vertex Pharmaceuticals has a 1-year low of $341.90 and a 1-year high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data 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. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.88%. The business had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.69 billion. During the same quarter in the prior year, the company earned $3.67 earnings per share. The business’s revenue was up 11.6% compared to the same quarter last year. On average, equities analysts predict that Vertex Pharmaceuticals will post -2.04 EPS for the current fiscal year.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 3,784 shares of the company’s stock in a transaction dated 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 completion of the sale, the chairman now 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 filing with the SEC, which is available through this hyperlink. In other news, Chairman Jeffrey M. Leiden sold 3,784 shares of the 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 completion of the sale, the chairman now directly owns 9,994 shares of the company’s stock, valued at $4,987,006. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction on Friday, August 30th. The shares were sold at an average price of $500.00, for a total transaction of $323,000.00. Following the transaction, the director now owns 4,435 shares in the company, valued at approximately $2,217,500. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

Institutional Trading of Vertex Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Adero Partners LLC boosted its stake in Vertex Pharmaceuticals by 2.2% in the 3rd quarter. Adero Partners LLC now owns 1,342 shares of the pharmaceutical company’s stock worth $624,000 after purchasing an additional 29 shares during the period. Atlanta Consulting Group Advisors LLC lifted its holdings in shares of Vertex Pharmaceuticals by 303.9% in the third quarter. Atlanta Consulting Group Advisors LLC now owns 1,769 shares of the pharmaceutical company’s stock worth $823,000 after buying an additional 1,331 shares in the last quarter. Natixis Advisors LLC boosted its position in shares of Vertex Pharmaceuticals by 5.8% during the third quarter. Natixis Advisors LLC now owns 461,886 shares of the pharmaceutical company’s stock worth $214,813,000 after acquiring an additional 25,301 shares during the last quarter. Mizuho Securities USA LLC grew its stake in Vertex Pharmaceuticals by 289.0% during the third quarter. Mizuho Securities USA LLC now owns 77,393 shares of the pharmaceutical company’s stock valued at $35,994,000 after acquiring an additional 57,497 shares in the last quarter. Finally, Ipswich Investment Management Co. Inc. increased its holdings in Vertex Pharmaceuticals by 2.7% in the 3rd quarter. Ipswich Investment Management Co. Inc. now owns 1,523 shares of the pharmaceutical company’s stock valued at $708,000 after acquiring an additional 40 shares during the last quarter. 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.