Weekly Analysts’ Ratings Updates for Vertex Pharmaceuticals (VRTX)

Vertex Pharmaceuticals (NASDAQ: VRTX) recently received a number of ratings updates from brokerages and research firms:

  • 1/24/2023 – Vertex Pharmaceuticals had its price target raised by analysts at Morgan Stanley from $285.00 to $286.00. They now have an “equal weight” rating on the stock.
  • 1/19/2023 – Vertex Pharmaceuticals had its price target raised by analysts at Piper Sandler from $293.00 to $296.00. They now have a “neutral” rating on the stock.
  • 1/18/2023 – Vertex Pharmaceuticals is now covered by analysts at Canaccord Genuity Group Inc.. They set a “hold” rating and a $311.00 price target on the stock.
  • 1/17/2023 – Vertex Pharmaceuticals was upgraded by analysts at SVB Leerink LLC from a “market perform” rating to an “outperform” rating. They now have a $374.00 price target on the stock.
  • 12/19/2022 – Vertex Pharmaceuticals was downgraded by analysts at Jefferies Financial Group Inc. from a “buy” rating to a “hold” rating. They now have a $340.00 price target on the stock.

Vertex Pharmaceuticals Stock Up 0.1 %

Shares of Vertex Pharmaceuticals stock traded up $0.23 during trading hours on Wednesday, reaching $313.80. The company’s stock had a trading volume of 165,178 shares, compared to its average volume of 1,365,505. Vertex Pharmaceuticals Incorporated has a one year low of $225.01 and a one year high of $324.75. The company has a market capitalization of $80.55 billion, a P/E ratio of 24.75, a P/E/G ratio of 1.94 and a beta of 0.46. The stock’s fifty day simple moving average is $303.94 and its two-hundred day simple moving average is $296.57. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.55 and a current ratio of 4.70.

Vertex Pharmaceuticals (NASDAQ:VRTXGet Rating) last released its quarterly earnings data on Thursday, October 27th. The pharmaceutical company reported $3.62 earnings per share for the quarter, beating analysts’ consensus estimates of $3.31 by $0.31. Vertex Pharmaceuticals had a net margin of 37.62% and a return on equity of 29.65%. The firm had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.23 billion. On average, research analysts forecast that Vertex Pharmaceuticals Incorporated will post 13.02 earnings per share for the current year.

Insider Activity at Vertex Pharmaceuticals

In related news, Director Yuchun Lee sold 442 shares of the firm’s stock in a transaction dated Wednesday, January 18th. The shares were sold at an average price of $312.17, for a total transaction of $137,979.14. Following the transaction, the director now directly owns 1,875 shares of the company’s stock, valued at $585,318.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP David Altshuler sold 1,303 shares of the firm’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $303.04, for a total transaction of $394,861.12. Following the transaction, the executive vice president now directly owns 36,077 shares of the company’s stock, valued at $10,932,774.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Yuchun Lee sold 442 shares of the firm’s stock in a transaction dated Wednesday, January 18th. The shares were sold at an average price of $312.17, for a total transaction of $137,979.14. Following the transaction, the director now directly owns 1,875 shares in the company, valued at $585,318.75. The disclosure for this sale can be found here. 0.40% of the stock is owned by insiders.

Institutional Trading of Vertex Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in VRTX. LSV Asset Management raised its position in Vertex Pharmaceuticals by 206.3% in the first quarter. LSV Asset Management now owns 4,751 shares of the pharmaceutical company’s stock worth $1,240,000 after acquiring an additional 3,200 shares during the period. Synovus Financial Corp raised its position in Vertex Pharmaceuticals by 9.6% in the first quarter. Synovus Financial Corp now owns 6,737 shares of the pharmaceutical company’s stock worth $1,759,000 after acquiring an additional 590 shares during the period. Cibc World Market Inc. raised its position in Vertex Pharmaceuticals by 69.4% in the first quarter. Cibc World Market Inc. now owns 6,622 shares of the pharmaceutical company’s stock worth $1,728,000 after acquiring an additional 2,713 shares during the period. Sei Investments Co. raised its position in Vertex Pharmaceuticals by 28.4% in the first quarter. Sei Investments Co. now owns 44,090 shares of the pharmaceutical company’s stock worth $11,756,000 after acquiring an additional 9,761 shares during the period. Finally, Cetera Investment Advisers raised its position in Vertex Pharmaceuticals by 4.0% in the first quarter. Cetera Investment Advisers now owns 14,114 shares of the pharmaceutical company’s stock worth $3,683,000 after acquiring an additional 544 shares during the period. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene; and TRIKAFTA for the treatment of patients with CF 6 years of age or older who have at least one F508del mutation.

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