Vertex Pharmaceuticals (NASDAQ:VRTX) Receives Hold Rating from Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Vertex Pharmaceuticals (NASDAQ:VRTX) in a research note released on Tuesday morning, Benzinga reports.

Several other analysts have also issued reports on the stock. Oppenheimer reaffirmed an outperform rating and set a $500.00 price target on shares of Vertex Pharmaceuticals in a research report on Monday, April 15th. Robert W. Baird downgraded shares of Vertex Pharmaceuticals from a neutral rating to an underperform rating and set a $325.00 target price for the company. in a research note on Wednesday, January 31st. Guggenheim boosted their price target on Vertex Pharmaceuticals from $445.00 to $450.00 and gave the stock a buy rating in a research report on Thursday, April 18th. HC Wainwright reaffirmed a buy rating and issued a $462.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday. Finally, Evercore ISI upgraded Vertex Pharmaceuticals from an in-line rating to an outperform rating and set a $438.00 price target on the stock in a research note on Thursday, April 11th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Vertex Pharmaceuticals has an average rating of Moderate Buy and a consensus target price of $432.18.

Vertex Pharmaceuticals Stock Up 1.9 %

Vertex Pharmaceuticals stock opened at $410.24 on Tuesday. The company has a fifty day simple moving average of $408.02 and a 200 day simple moving average of $400.75. Vertex Pharmaceuticals has a 1-year low of $320.01 and a 1-year high of $448.40. The company has a current ratio of 3.99, a quick ratio of 3.78 and a debt-to-equity ratio of 0.02. The company has a market cap of $106.03 billion, a P/E ratio of 29.53, a price-to-earnings-growth ratio of 1.89 and a beta of 0.39.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 EPS for the quarter, beating the consensus estimate of $3.66 by $1.10. The firm had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Vertex Pharmaceuticals had a return on equity of 21.91% and a net margin of 36.68%. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.67 earnings per share. Research analysts anticipate that Vertex Pharmaceuticals will post 14.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Stuart A. Arbuckle sold 4,295 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $420.24, for a total transaction of $1,804,930.80. Following the completion of the transaction, the chief operating officer now owns 75,718 shares of the company’s stock, valued at approximately $31,819,732.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, COO Stuart A. Arbuckle sold 4,295 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $420.24, for a total value of $1,804,930.80. Following the completion of the transaction, the chief operating officer now owns 75,718 shares of the company’s stock, valued at approximately $31,819,732.32. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Amit Sachdev sold 3,222 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $420.24, for a total transaction of $1,354,013.28. Following the sale, the executive vice president now directly owns 74,364 shares in the company, valued at approximately $31,250,727.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,381 shares of company stock worth $5,203,249. Corporate insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. OFI Invest Asset Management bought a new stake in Vertex Pharmaceuticals during the 3rd quarter worth approximately $25,000. University of Texas Texas AM Investment Managment Co. bought a new stake in shares of Vertex Pharmaceuticals in the fourth quarter worth $25,000. Arlington Trust Co LLC increased 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 valued at $27,000 after purchasing an additional 33 shares during the period. Annapolis Financial Services LLC bought a new position in Vertex Pharmaceuticals during the 1st quarter worth $27,000. Finally, ICA Group Wealth Management LLC bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter valued at about $28,000. 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.