Vertex Pharmaceuticals (NASDAQ:VRTX) Reaches New 1-Year High at $496.93

Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) hit a new 52-week high during trading on Tuesday . The stock traded as high as $496.93 and last traded at $493.37, with a volume of 150314 shares traded. The stock had previously closed at $490.85.

Wall Street Analyst Weigh In

Several equities analysts recently commented on VRTX shares. Canaccord Genuity Group reaffirmed a “sell” rating and set a $371.00 price objective on shares of Vertex Pharmaceuticals in a research note on Friday, April 12th. HC Wainwright reiterated a “buy” rating and set a $462.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, May 7th. Morgan Stanley boosted their price objective on shares of Vertex Pharmaceuticals from $402.00 to $455.00 and gave the company an “equal weight” rating in a research report on Thursday, July 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 7th. Finally, BMO Capital Markets increased their price objective on shares of Vertex Pharmaceuticals from $480.00 to $500.00 and gave the company an “outperform” rating in a research report on Friday, May 31st. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $452.57.

Vertex Pharmaceuticals Price Performance

The stock has a fifty day moving average of $462.80 and a two-hundred day moving average of $432.64. The stock has a market cap of $126.18 billion, a price-to-earnings ratio of 31.70, a price-to-earnings-growth ratio of 2.52 and a beta of 0.39. The company has a quick ratio of 3.29, a current ratio of 3.50 and a debt-to-equity ratio of 0.02.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 EPS for the quarter, beating the consensus estimate of $3.66 by $1.10. The firm had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.58 billion. Vertex Pharmaceuticals had a return on equity of 23.08% and a net margin of 39.46%. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.67 earnings per share. On average, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.16 earnings per share for the current year.

Insider Activity

In other news, Director Bruce I. Sachs sold 7,073 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $448.00, for a total transaction of $3,168,704.00. Following the sale, the director now directly owns 40,000 shares of the company’s stock, valued at $17,920,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Bruce I. Sachs sold 7,073 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $448.00, for a total transaction of $3,168,704.00. Following the completion of the sale, the director now owns 40,000 shares in the company, valued at approximately $17,920,000. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CMO Carmen Bozic sold 2,280 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $445.56, for a total value of $1,015,876.80. Following the transaction, the chief marketing officer now directly owns 34,659 shares of the company’s stock, valued at approximately $15,442,664.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,646 shares of company stock worth $14,169,923. 0.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Large investors have recently modified their holdings of the stock. Monetary Management Group Inc. lifted its stake in shares of Vertex Pharmaceuticals by 8.9% in the 2nd quarter. Monetary Management Group Inc. now owns 1,220 shares of the pharmaceutical company’s stock valued at $572,000 after purchasing an additional 100 shares during the period. V Square Quantitative Management LLC raised its stake in shares of Vertex Pharmaceuticals by 1.4% in the 2nd quarter. V Square Quantitative Management LLC now owns 3,489 shares of the pharmaceutical company’s stock valued at $1,635,000 after purchasing an additional 49 shares during the period. Great Valley Advisor Group Inc. raised its stake in shares of Vertex Pharmaceuticals by 15.4% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 14,787 shares of the pharmaceutical company’s stock valued at $6,931,000 after purchasing an additional 1,968 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Vertex Pharmaceuticals by 2.6% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 85,612 shares of the pharmaceutical company’s stock valued at $40,128,000 after acquiring an additional 2,176 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC grew its holdings in shares of Vertex Pharmaceuticals by 31.4% in the 2nd quarter. NorthCrest Asset Manangement LLC now owns 1,230 shares of the pharmaceutical company’s stock valued at $577,000 after acquiring an additional 294 shares in the last quarter. 90.96% of the stock is currently owned by 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.