Vertex Pharmaceuticals (NASDAQ:VRTX) Sets New 1-Year High at $448.59

Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) hit a new 52-week high during trading on Wednesday . The company traded as high as $448.59 and last traded at $447.93, with a volume of 254198 shares changing hands. The stock had previously closed at $442.00.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on VRTX shares. Oppenheimer reissued an “outperform” rating and set a $500.00 price objective on shares of Vertex Pharmaceuticals in a research report on Monday, April 15th. Canaccord Genuity Group restated a “sell” rating and set a $371.00 target price on shares of Vertex Pharmaceuticals in a research note on Friday, April 12th. Cantor Fitzgerald reissued an “overweight” rating and issued a $440.00 price objective on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 20th. Wells Fargo & Company upped their target price on shares of Vertex Pharmaceuticals from $500.00 to $540.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. Finally, Barclays upped their price objective on Vertex Pharmaceuticals from $446.00 to $472.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $432.18.

Vertex Pharmaceuticals Stock Up 1.4 %

The company has a fifty day moving average of $410.97 and a two-hundred day moving average of $405.48. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.29 and a current ratio of 3.50. The company has a market cap of $115.67 billion, a PE ratio of 28.68, a price-to-earnings-growth ratio of 2.13 and a beta of 0.39.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.66 by $1.10. Vertex Pharmaceuticals had a return on equity of 23.08% and a net margin of 39.46%. The company had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same period in the prior year, the company posted $2.67 EPS. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. As a group, analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 354 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $425.70, for a total value of $150,697.80. Following the completion of the transaction, the executive vice president now owns 55,804 shares of the company’s stock, valued at $23,755,762.80. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Venturi Wealth Management LLC increased its holdings in Vertex Pharmaceuticals by 1.1% in the 4th quarter. Venturi Wealth Management LLC now owns 2,293 shares of the pharmaceutical company’s stock worth $933,000 after buying an additional 24 shares during the period. Nicholas Hoffman & Company LLC. raised its holdings in shares of Vertex Pharmaceuticals by 3.9% during the fourth quarter. Nicholas Hoffman & Company LLC. now owns 636 shares of the pharmaceutical company’s stock worth $259,000 after purchasing an additional 24 shares during the last quarter. Hohimer Wealth Management LLC lifted its position in Vertex Pharmaceuticals by 0.8% during the fourth quarter. Hohimer Wealth Management LLC now owns 2,932 shares of the pharmaceutical company’s stock valued at $1,193,000 after purchasing an additional 24 shares during the period. Johnson Financial Group Inc. boosted its holdings in Vertex Pharmaceuticals by 2.5% in the fourth quarter. Johnson Financial Group Inc. now owns 1,001 shares of the pharmaceutical company’s stock valued at $407,000 after purchasing an additional 24 shares during the last quarter. Finally, Arthur M. Cohen & Associates LLC raised its stake in shares of Vertex Pharmaceuticals by 3.2% during the 4th quarter. Arthur M. Cohen & Associates LLC now owns 800 shares of the pharmaceutical company’s stock valued at $326,000 after buying an additional 25 shares during the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

About Vertex Pharmaceuticals

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.