Vertex Pharmaceuticals (NASDAQ:VRTX) Stock Rating Upgraded by StockNews.com

Vertex Pharmaceuticals (NASDAQ:VRTX) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

A number of other analysts have also recently weighed in on the company. Scotiabank upped their price target on Vertex Pharmaceuticals from $433.00 to $450.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. Canaccord Genuity Group upgraded Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and upped their price target for the company from $408.00 to $424.00 in a research report on Tuesday, February 11th. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Bank of America lowered their price target on Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, Jefferies Financial Group raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $500.00 to $550.00 in a research note on Monday, December 9th. Ten investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $506.70.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX traded down $11.67 on Tuesday, reaching $488.34. 1,389,722 shares of the stock traded hands, compared to its average volume of 1,489,855. The firm has a market cap of $125.40 billion, a price-to-earnings ratio of -221.97, a P/E/G ratio of 2.11 and a beta of 0.41. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35. Vertex Pharmaceuticals has a 12 month low of $377.85 and a 12 month high of $519.88. The stock’s 50-day moving average price is $451.99 and its 200-day moving average price is $461.34.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. Equities analysts forecast that Vertex Pharmaceuticals will post 15.63 EPS for the current fiscal year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 530 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $475.34, for a total value of $251,930.20. Following the transaction, the executive vice president now owns 58,539 shares of the company’s stock, valued at approximately $27,825,928.26. This represents a 0.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 1,084 shares of company stock valued at $505,512. 0.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Several large investors have recently modified their holdings of VRTX. Axxcess Wealth Management LLC increased its holdings in shares of Vertex Pharmaceuticals by 16.6% in the third quarter. Axxcess Wealth Management LLC now owns 2,850 shares of the pharmaceutical company’s stock worth $1,325,000 after acquiring an additional 405 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in shares of Vertex Pharmaceuticals by 1.6% in the third quarter. Venturi Wealth Management LLC now owns 2,532 shares of the pharmaceutical company’s stock worth $1,178,000 after acquiring an additional 40 shares in the last quarter. Nations Financial Group Inc. IA ADV increased its holdings in shares of Vertex Pharmaceuticals by 6.0% in the third quarter. Nations Financial Group Inc. IA ADV now owns 3,981 shares of the pharmaceutical company’s stock worth $1,851,000 after acquiring an additional 226 shares in the last quarter. Apollon Wealth Management LLC increased its holdings in shares of Vertex Pharmaceuticals by 10.7% in the third quarter. Apollon Wealth Management LLC now owns 8,196 shares of the pharmaceutical company’s stock worth $3,812,000 after acquiring an additional 793 shares in the last quarter. Finally, WealthPlan Investment Management LLC bought a new stake in shares of Vertex Pharmaceuticals in the third quarter worth about $635,000. 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.