Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Receives $554.30 Consensus PT from Analysts

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) has been given an average recommendation of “Moderate Buy” by the twenty-nine research firms that are covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation, twenty-three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $554.3043.

VRTX has been the subject of a number of analyst reports. Wolfe Research upgraded Vertex Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $548.00 price target for the company in a research note on Tuesday, January 6th. Bank of America boosted their price objective on Vertex Pharmaceuticals from $571.00 to $598.00 and gave the company a “buy” rating in a research report on Tuesday, March 10th. Canaccord Genuity Group increased their target price on Vertex Pharmaceuticals from $411.00 to $441.00 and gave the stock a “hold” rating in a research report on Tuesday, February 17th. Scotiabank lifted their target price on Vertex Pharmaceuticals from $495.00 to $558.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. Finally, Oppenheimer boosted their price target on Vertex Pharmaceuticals from $540.00 to $600.00 and gave the stock an “outperform” rating in a report on Tuesday, March 10th.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX opened at $433.07 on Friday. The firm’s 50 day simple moving average is $469.10 and its two-hundred day simple moving average is $442.61. The company has a market capitalization of $110.01 billion, a P/E ratio of 28.25, a P/E/G ratio of 1.85 and a beta of 0.31. Vertex Pharmaceuticals has a 1-year low of $362.50 and a 1-year high of $510.77.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Thursday, February 12th. The pharmaceutical company reported $5.03 EPS for the quarter, missing the consensus estimate of $5.05 by ($0.02). Vertex Pharmaceuticals had a net margin of 32.94% and a return on equity of 24.30%. The firm had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.18 billion. During the same quarter in the previous year, the business earned $3.98 earnings per share. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, sell-side analysts anticipate that Vertex Pharmaceuticals will post 15.63 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Ourania Tatsis sold 260 shares of the business’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $486.35, for a total value of $126,451.00. Following the transaction, the executive vice president owned 46,763 shares of the company’s stock, valued at approximately $22,743,185.05. The trade was a 0.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Duncan Mckechnie sold 4,910 shares of the firm’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $487.65, for a total transaction of $2,394,361.50. Following the transaction, the executive vice president directly owned 17,559 shares of the company’s stock, valued at $8,562,646.35. The trade was a 21.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 93,485 shares of company stock valued at $43,967,586. Company insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Chesapeake Asset Management LLC lifted its position in shares of Vertex Pharmaceuticals by 110.0% in the third quarter. Chesapeake Asset Management LLC now owns 63 shares of the pharmaceutical company’s stock worth $25,000 after buying an additional 33 shares in the last quarter. Motiv8 Investments LLC purchased a new position in Vertex Pharmaceuticals during the 4th quarter valued at approximately $26,000. Colonial Trust Co SC grew its holdings in Vertex Pharmaceuticals by 118.8% during the 3rd quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company’s stock valued at $27,000 after buying an additional 38 shares in the last quarter. Swiss RE Ltd. bought a new stake in Vertex Pharmaceuticals in the 4th quarter worth approximately $28,000. Finally, Eagle Bay Advisors LLC bought a new stake in Vertex Pharmaceuticals in the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

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.