Barclays Boosts Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target to $467.00

Vertex Pharmaceuticals (NASDAQ:VRTX) had its target price raised by Barclays from $435.00 to $467.00 in a research report released on Tuesday,Benzinga reports. They currently have an equal weight rating on the pharmaceutical company’s stock.

A number of other analysts have also issued reports on VRTX. Scotiabank boosted their price target on shares of Vertex Pharmaceuticals from $433.00 to $450.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Citigroup began coverage on shares of Vertex Pharmaceuticals in a research note on Thursday, November 14th. They set a “buy” rating and a $575.00 price target on the stock. StockNews.com lowered shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 21st. UBS Group boosted their price target on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Royal Bank of Canada boosted their price target on shares of Vertex Pharmaceuticals from $437.00 to $451.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 5th. Ten analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $505.96.

Vertex Pharmaceuticals Stock Up 2.1 %

Shares of VRTX opened at $462.58 on Tuesday. The firm has a market cap of $119.13 billion, a P/E ratio of -232.45, a price-to-earnings-growth ratio of 1.80 and a beta of 0.41. Vertex Pharmaceuticals has a 12-month low of $377.85 and a 12-month high of $519.88. The company’s 50-day moving average price is $435.70 and its 200 day moving average price is $461.79. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. On average, sell-side analysts forecast that Vertex Pharmaceuticals will post -1.94 earnings per share for the current year.

Insider Activity at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 310 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $459.83, for a total value of $142,547.30. Following the completion of the transaction, the executive vice president now directly owns 64,021 shares of the company’s stock, valued at $29,438,776.43. This represents a 0.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Vertex Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Czech National Bank boosted its holdings in shares of Vertex Pharmaceuticals by 6.2% in the fourth quarter. Czech National Bank now owns 55,838 shares of the pharmaceutical company’s stock valued at $22,486,000 after acquiring an additional 3,260 shares during the period. Whalen Wealth Management Inc. acquired a new stake in shares of Vertex Pharmaceuticals in the third quarter valued at approximately $662,000. Concord Wealth Partners boosted its holdings in shares of Vertex Pharmaceuticals by 32.6% in the fourth quarter. Concord Wealth Partners now owns 3,508 shares of the pharmaceutical company’s stock valued at $1,413,000 after acquiring an additional 862 shares during the period. Mizuho Securities USA LLC boosted its holdings in shares of Vertex Pharmaceuticals by 289.0% in the third quarter. Mizuho Securities USA LLC now owns 77,393 shares of the pharmaceutical company’s stock valued at $35,994,000 after acquiring an additional 57,497 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in shares of Vertex Pharmaceuticals by 19.4% in the fourth quarter. Nordea Investment Management AB now owns 342,429 shares of the pharmaceutical company’s stock valued at $137,783,000 after acquiring an additional 55,739 shares during the period. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Company Profile

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.