Vertex Pharmaceuticals (NASDAQ:VRTX) Rating Reiterated by Oppenheimer

Oppenheimer restated their outperform rating on shares of Vertex Pharmaceuticals (NASDAQ:VRTX) in a research note issued to investors on Monday morning, Benzinga reports. The brokerage currently has a $500.00 target price on the pharmaceutical company’s stock.

A number of other equities analysts have also weighed in on the stock. Truist Financial upped their target price on shares of Vertex Pharmaceuticals from $456.00 to $508.00 and gave the stock a buy rating in a research note on Wednesday, January 31st. Wolfe Research initiated coverage on shares of Vertex Pharmaceuticals in a research note on Thursday, February 15th. They set an outperform rating and a $515.00 price objective for the company. Robert W. Baird downgraded shares of Vertex Pharmaceuticals from a neutral rating to an underperform rating and set a $325.00 price objective for the company. in a research note on Wednesday, January 31st. William Blair restated an outperform rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 6th. Finally, Maxim Group downgraded shares of Vertex Pharmaceuticals from a buy rating to a hold rating in a research note on Wednesday, January 31st. Three research analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $429.45.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $393.48 on Monday. The firm has a market cap of $101.70 billion, a PE ratio of 28.33, a PEG ratio of 1.84 and a beta of 0.35. The company has a current ratio of 3.99, a quick ratio of 3.78 and a debt-to-equity ratio of 0.02. Vertex Pharmaceuticals has a 1-year low of $316.43 and a 1-year high of $448.40. The company has a fifty day moving average price of $414.17 and a 200 day moving average price of $396.74.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, February 5th. The pharmaceutical company reported $4.20 earnings per share for the quarter, topping analysts’ consensus estimates of $3.85 by $0.35. The firm had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.50 billion. Vertex Pharmaceuticals had a net margin of 36.68% and a return on equity of 21.91%. During the same period in the prior year, the business earned $3.33 EPS. Research analysts predict that Vertex Pharmaceuticals will post 15.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 354 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $425.70, for a total value of $150,697.80. Following the transaction, the executive vice president now directly owns 55,804 shares of the company’s stock, valued at approximately $23,755,762.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 354 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $425.70, for a total value of $150,697.80. Following the transaction, the executive vice president now directly owns 55,804 shares of the company’s stock, valued at approximately $23,755,762.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Kristen Ambrose sold 1,374 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $420.24, for a total transaction of $577,409.76. Following the completion of the transaction, the chief accounting officer now directly owns 9,676 shares in the company, valued at $4,066,242.24. The disclosure for this sale can be found here. Insiders have sold a total of 12,381 shares of company stock valued at $5,203,249 in the last three months. 0.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. University of Texas Texas AM Investment Managment Co. bought a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth approximately $25,000. Annapolis Financial Services LLC bought a new position in shares of Vertex Pharmaceuticals during the first quarter worth approximately $27,000. Arlington Trust Co LLC increased its holdings in shares of Vertex Pharmaceuticals by 97.1% during the fourth quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 33 shares during the period. ICA Group Wealth Management LLC bought a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth approximately $28,000. Finally, Fortitude Family Office LLC bought a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth approximately $30,000. 90.96% of the stock is 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.