Brokerages Set Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Target Price at $522.68

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) has been given an average recommendation of “Moderate Buy” by the twenty-six ratings firms that are presently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation, twenty have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $522.6842.

Several research firms have commented on VRTX. Wells Fargo & Company lifted their price target on Vertex Pharmaceuticals from $460.00 to $515.00 and gave the company an “overweight” rating in a report on Wednesday, December 10th. Morgan Stanley set a $564.00 target price on shares of Vertex Pharmaceuticals in a report on Friday, December 5th. Barclays raised shares of Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $414.00 to $606.00 in a research report on Tuesday, January 27th. Stifel Nicolaus decreased their price target on shares of Vertex Pharmaceuticals from $455.00 to $445.00 and set a “hold” rating on the stock in a report on Tuesday, November 4th. Finally, Weiss Ratings raised shares of Vertex Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, EVP Ourania Tatsis sold 4,500 shares of the business’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $474.99, for a total transaction of $2,137,455.00. Following the completion of the sale, the executive vice president owned 42,293 shares in the company, valued at approximately $20,088,752.07. The trade was a 9.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Jeffrey M. Leiden sold 63,781 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $449.20, for a total transaction of $28,650,425.20. Following the completion of the transaction, the chairman owned 24,026 shares in the company, valued at $10,792,479.20. The trade was a 72.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 165,105 shares of company stock valued at $73,858,523. Company insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Vertex Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. Brighton Jones LLC lifted its stake in shares of Vertex Pharmaceuticals by 15.0% during the fourth quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company’s stock worth $1,783,000 after purchasing an additional 579 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in Vertex Pharmaceuticals during the 2nd quarter worth approximately $134,000. REAP Financial Group LLC boosted its holdings in Vertex Pharmaceuticals by 128.3% in the 2nd quarter. REAP Financial Group LLC now owns 137 shares of the pharmaceutical company’s stock worth $61,000 after acquiring an additional 77 shares during the period. Somerville Kurt F boosted its holdings in Vertex Pharmaceuticals by 1.4% in the 2nd quarter. Somerville Kurt F now owns 23,186 shares of the pharmaceutical company’s stock worth $10,322,000 after acquiring an additional 310 shares during the period. Finally, Kidder Stephen W grew its position in Vertex Pharmaceuticals by 1.4% in the second quarter. Kidder Stephen W now owns 12,130 shares of the pharmaceutical company’s stock valued at $5,400,000 after acquiring an additional 164 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

VRTX stock opened at $477.92 on Thursday. The company has a 50 day moving average price of $457.64 and a two-hundred day moving average price of $427.45. The stock has a market capitalization of $121.26 billion, a P/E ratio of 33.70 and a beta of 0.30. Vertex Pharmaceuticals has a one year low of $362.50 and a one year high of $519.68.

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.