Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Given Consensus Rating of “Moderate Buy” by Analysts

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) has been assigned an average rating of “Moderate Buy” from the twenty-seven ratings firms that are currently covering the firm, MarketBeat reports. Nine equities research analysts have rated the stock with a hold recommendation, fifteen have assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $498.4211.

Several analysts have commented on the stock. Leerink Partnrs upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 25th. Leerink Partners raised Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and dropped their target price for the company from $458.00 to $456.00 in a research report on Thursday, September 25th. Weiss Ratings restated a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a research note on Wednesday, October 8th. Scotiabank initiated coverage on Vertex Pharmaceuticals in a research report on Thursday, November 13th. They set a “sector outperform” rating and a $495.00 price target on the stock. Finally, Royal Bank Of Canada dropped their price objective on shares of Vertex Pharmaceuticals from $423.00 to $415.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 4th.

Insider Transactions at Vertex Pharmaceuticals

In related news, EVP Charles F. Wagner, Jr. sold 14,000 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $456.00, for a total value of $6,384,000.00. Following the transaction, the executive vice president directly owned 37,725 shares of the company’s stock, valued at $17,202,600. This trade represents a 27.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Jeffrey M. Leiden sold 63,781 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $449.20, for a total transaction of $28,650,425.20. Following the transaction, the chairman owned 24,026 shares of the company’s stock, valued at approximately $10,792,479.20. This represents a 72.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 151,073 shares of company stock worth $67,326,816 over the last quarter. Corporate insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Activest Wealth Management purchased a new position in shares of Vertex Pharmaceuticals during the first quarter valued at approximately $25,000. Chesapeake Asset Management LLC boosted its position in shares of Vertex Pharmaceuticals by 110.0% during the 3rd quarter. Chesapeake Asset Management LLC now owns 63 shares of the pharmaceutical company’s stock valued at $25,000 after acquiring an additional 33 shares during the last quarter. Access Investment Management LLC purchased a new position in Vertex Pharmaceuticals in the 2nd quarter worth approximately $27,000. Colonial Trust Co SC lifted its holdings in shares of Vertex Pharmaceuticals by 118.8% during the 3rd quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company’s stock worth $27,000 after acquiring an additional 38 shares during the last quarter. Finally, Legacy Investment Solutions LLC bought a new stake in Vertex Pharmaceuticals during the second quarter worth about $29,000. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock traded up $4.37 during midday trading on Wednesday, reaching $463.58. 41,044 shares of the company were exchanged, compared to its average volume of 1,591,211. The company has a market cap of $117.62 billion, a P/E ratio of 32.67 and a beta of 0.32. Vertex Pharmaceuticals has a 12 month low of $362.50 and a 12 month high of $519.68. The company’s 50 day moving average price is $432.64 and its two-hundred day moving average price is $425.90.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.58 by $0.22. Vertex Pharmaceuticals had a return on equity of 23.51% and a net margin of 31.35%.The firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the prior year, the business earned $4.38 EPS. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, sell-side analysts predict that Vertex Pharmaceuticals will post 15.63 earnings per share for the current year.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.