Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) have received an average recommendation of “Moderate Buy” from the twenty-eight ratings firms that are currently covering the company, Marketbeat.com reports. Eight analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $503.80.

VRTX has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price objective on Vertex Pharmaceuticals from $460.00 to $515.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 10th. Sanford C. Bernstein raised shares of Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research report on Monday. Leerink Partnrs raised shares of Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 25th. Scotiabank began coverage on Vertex Pharmaceuticals in a research report on Thursday, November 13th. They set a “sector outperform” rating and a $495.00 price target on the stock. Finally, Royal Bank Of Canada lowered their price objective on shares of Vertex Pharmaceuticals from $423.00 to $415.00 and set a “sector perform” rating for the company in a research note on Tuesday, November 4th.

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX opened at $438.92 on Friday. The stock has a 50-day simple moving average of $445.95 and a two-hundred day simple moving average of $427.49. Vertex Pharmaceuticals has a 52-week low of $362.50 and a 52-week high of $519.68. The firm has a market capitalization of $111.36 billion, a PE ratio of 30.95 and a beta of 0.31.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.58 by $0.22. Vertex Pharmaceuticals had a return on equity of 23.51% and a net margin of 31.35%.The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the previous year, the company posted $4.38 EPS. The firm’s revenue was up 11.0% on a year-over-year basis. Equities analysts forecast that Vertex Pharmaceuticals will post 15.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Charles F. Wagner, Jr. sold 14,000 shares of the stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $456.00, for a total value of $6,384,000.00. Following the transaction, the executive vice president directly owned 37,725 shares of the company’s stock, valued at approximately $17,202,600. This represents a 27.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Jeffrey M. Leiden sold 63,781 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $449.20, for a total transaction of $28,650,425.20. Following the sale, the chairman directly owned 24,026 shares in the company, valued at $10,792,479.20. The trade was a 72.64% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 165,105 shares of company stock valued at $73,858,523 over the last 90 days. Corporate insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Lee Johnson Capital Management LLC acquired a new position in Vertex Pharmaceuticals during the 2nd quarter worth $721,000. Police & Firemen s Retirement System of New Jersey increased its stake in shares of 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 worth $17,378,000 after buying an additional 1,393 shares during the period. Bailard Inc. increased its stake in shares of Vertex Pharmaceuticals by 0.5% during the second quarter. Bailard Inc. now owns 38,147 shares of the pharmaceutical company’s stock worth $16,983,000 after buying an additional 200 shares during the period. SteelPeak Wealth LLC purchased a new position in Vertex Pharmaceuticals in the second quarter worth approximately $10,059,000. Finally, Moody Lynn & Lieberson LLC grew its holdings in Vertex Pharmaceuticals by 1.4% during the 2nd quarter. Moody Lynn & Lieberson LLC now owns 58,077 shares of the pharmaceutical company’s stock worth $25,856,000 after acquiring an additional 822 shares in the last quarter. Institutional investors and hedge funds 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.