Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Receives $522.68 Consensus PT from Analysts

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) has earned a consensus recommendation of “Moderate Buy” from the twenty-six brokerages that are currently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation, twenty have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $522.6842.

A number of brokerages have recently weighed in on VRTX. Scotiabank began coverage on shares of Vertex Pharmaceuticals in a research note on Thursday, November 13th. They issued a “sector outperform” rating and a $495.00 price target for the company. Stifel Nicolaus decreased their price target on Vertex Pharmaceuticals from $455.00 to $445.00 and set a “hold” rating for the company in a research note on Tuesday, November 4th. UBS Group lifted their price target on Vertex Pharmaceuticals from $535.00 to $545.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Leerink Partners upped their price objective on Vertex Pharmaceuticals from $456.00 to $525.00 and gave the company an “outperform” rating in a report on Monday, December 29th. Finally, Weiss Ratings raised Vertex Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 4th.

Vertex Pharmaceuticals Price Performance

Shares of VRTX traded up $1.22 during trading hours on Thursday, reaching $462.46. 381,823 shares of the company’s stock traded hands, compared to its average volume of 1,490,944. The firm has a market capitalization of $117.33 billion, a price-to-earnings ratio of 32.63 and a beta of 0.30. The business’s fifty day simple moving average is $459.11 and its two-hundred day simple moving average is $427.29. Vertex Pharmaceuticals has a twelve month low of $362.50 and a twelve month high of $519.68.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 4,500 shares of the company’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $474.99, for a total value of $2,137,455.00. Following the transaction, the executive vice president owned 42,293 shares of the company’s stock, valued at approximately $20,088,752.07. This represents a 9.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Jeffrey M. Leiden sold 63,781 shares of the stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $449.20, for a total value of $28,650,425.20. Following the sale, the chairman owned 24,026 shares of the company’s stock, valued at $10,792,479.20. This trade represents a 72.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 145,417 shares of company stock valued at $65,190,487 over the last ninety days. Insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Vertex Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the stock. Police & Firemen s Retirement System of New Jersey boosted its position in Vertex Pharmaceuticals by 3.7% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 39,035 shares of the pharmaceutical company’s stock valued at $17,378,000 after purchasing an additional 1,393 shares during the last quarter. Bailard Inc. raised its stake in shares of Vertex Pharmaceuticals by 0.5% during the 2nd quarter. Bailard Inc. now owns 38,147 shares of the pharmaceutical company’s stock worth $16,983,000 after purchasing an additional 200 shares in the last quarter. Advisory Resource Group purchased a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter worth about $1,286,000. Generali Asset Management SPA SGR lifted its holdings in shares of Vertex Pharmaceuticals by 41.8% during the 3rd quarter. Generali Asset Management SPA SGR now owns 23,569 shares of the pharmaceutical company’s stock valued at $9,231,000 after buying an additional 6,942 shares during the last quarter. Finally, Welch & Forbes LLC grew its stake in shares of Vertex Pharmaceuticals by 1.4% in the 3rd quarter. Welch & Forbes LLC now owns 220,346 shares of the pharmaceutical company’s stock valued at $86,296,000 after buying an additional 3,102 shares in the last quarter. 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.