Vertex Pharmaceuticals (NASDAQ:VRTX) PT Raised to $480.00 at Cantor Fitzgerald

Vertex Pharmaceuticals (NASDAQ:VRTX) had its target price boosted by Cantor Fitzgerald from $440.00 to $480.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the pharmaceutical company’s stock. Cantor Fitzgerald’s price target suggests a potential downside of 2.10% from the company’s current price.

Several other analysts have also commented on VRTX. HC Wainwright increased their price target on shares of Vertex Pharmaceuticals from $462.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Royal Bank of Canada lowered their price target on shares of Vertex Pharmaceuticals from $424.00 to $421.00 and set a “sector perform” rating on the stock in a research report on Tuesday, June 11th. Piper Sandler increased their price target on shares of Vertex Pharmaceuticals from $450.00 to $456.00 and gave the company an “overweight” rating in a research report on Tuesday, May 7th. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 7th. Finally, Morgan Stanley raised their target price on shares of Vertex Pharmaceuticals from $402.00 to $455.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 11th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $460.30.

Vertex Pharmaceuticals Trading Down 1.1 %

NASDAQ VRTX opened at $490.32 on Monday. The stock has a market capitalization of $126.53 billion, a P/E ratio of 31.82, a P/E/G ratio of 2.54 and a beta of 0.39. Vertex Pharmaceuticals has a 52-week low of $340.20 and a 52-week high of $498.77. The firm has a 50-day moving average price of $471.08 and a 200 day moving average price of $435.99. 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 posted its quarterly earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.66 by $1.10. Vertex Pharmaceuticals had a net margin of 39.46% and a return on equity of 23.08%. The firm had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same period in the prior year, the company posted $2.67 earnings per share. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. Equities research analysts expect that Vertex Pharmaceuticals will post 15.16 EPS for the current year.

Insider Activity

In other news, EVP Ourania Tatsis sold 2,350 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $439.11, for a total value of $1,031,908.50. Following the transaction, the executive vice president now owns 53,523 shares of the company’s stock, valued at approximately $23,502,484.53. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Ourania Tatsis sold 2,350 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $439.11, for a total value of $1,031,908.50. Following the transaction, the executive vice president now owns 53,523 shares of the company’s stock, valued at approximately $23,502,484.53. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CMO Carmen Bozic sold 2,280 shares of Vertex Pharmaceuticals stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $487.34, for a total transaction of $1,111,135.20. Following the sale, the chief marketing officer now directly owns 27,819 shares in the company, valued at approximately $13,557,311.46. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,646 shares of company stock valued at $14,169,923. Company insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Venturi Wealth Management LLC increased its stake in Vertex Pharmaceuticals by 1.1% during 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. increased its stake in Vertex Pharmaceuticals by 3.9% during the 4th quarter. Nicholas Hoffman & Company LLC. now owns 636 shares of the pharmaceutical company’s stock worth $259,000 after buying an additional 24 shares during the period. Hohimer Wealth Management LLC grew its holdings in Vertex Pharmaceuticals by 0.8% during the 4th quarter. Hohimer Wealth Management LLC now owns 2,932 shares of the pharmaceutical company’s stock worth $1,193,000 after acquiring an additional 24 shares in the last quarter. Johnson Financial Group Inc. grew its holdings in Vertex Pharmaceuticals by 2.5% during the 4th quarter. Johnson Financial Group Inc. now owns 1,001 shares of the pharmaceutical company’s stock worth $407,000 after acquiring an additional 24 shares in the last quarter. Finally, Quent Capital LLC grew its holdings in Vertex Pharmaceuticals by 6.0% during the 2nd quarter. Quent Capital LLC now owns 423 shares of the pharmaceutical company’s stock worth $198,000 after acquiring an additional 24 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

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.