StockNews.com Upgrades Vertex Pharmaceuticals (NASDAQ:VRTX) to “Strong-Buy”

Vertex Pharmaceuticals (NASDAQ:VRTX) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Sunday.

Other analysts have also issued reports about the stock. Canaccord Genuity Group reissued a “sell” rating and set a $371.00 target price on shares of Vertex Pharmaceuticals in a research note on Friday, April 12th. Cantor Fitzgerald reissued an “overweight” rating and set a $440.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 20th. Guggenheim increased their target price on shares of Vertex Pharmaceuticals from $445.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Barclays increased their target price on shares of Vertex Pharmaceuticals from $446.00 to $472.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. Finally, Sanford C. Bernstein downgraded shares of Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Friday, February 2nd. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $432.18.

Vertex Pharmaceuticals Stock Up 0.1 %

VRTX opened at $445.87 on Friday. The stock’s fifty day moving average is $410.38 and its 200-day moving average is $405.02. Vertex Pharmaceuticals has a one year low of $320.01 and a one year high of $448.40. The company has a market capitalization of $115.06 billion, a PE ratio of 28.93, a P/E/G ratio of 2.13 and a beta of 0.39. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.29 and a current ratio of 3.50.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share for the quarter, beating analysts’ consensus estimates of $3.66 by $1.10. Vertex Pharmaceuticals had a net margin of 39.46% and a return on equity of 23.08%. The company had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the prior year, the company earned $2.67 EPS. Vertex Pharmaceuticals’s revenue was up 13.3% on a year-over-year basis. On average, equities analysts predict that Vertex Pharmaceuticals will post 15.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Ourania Tatsis sold 354 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $425.70, for a total transaction of $150,697.80. Following the transaction, the executive vice president now owns 55,804 shares of the company’s stock, valued at approximately $23,755,762.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

Institutional Trading of Vertex Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. Strategic Wealth Partners Ltd. raised its position in shares of Vertex Pharmaceuticals by 19.2% during the first quarter. Strategic Wealth Partners Ltd. now owns 2,853 shares of the pharmaceutical company’s stock valued at $1,193,000 after buying an additional 460 shares during the last quarter. Cim LLC lifted its position in shares of Vertex Pharmaceuticals by 2.2% in the 1st quarter. Cim LLC now owns 2,905 shares of the pharmaceutical company’s stock worth $1,214,000 after acquiring an additional 62 shares during the period. CCM Investment Advisers LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 1st quarter worth approximately $12,200,000. Montchanin Asset Management LLC bought a new stake in shares of Vertex Pharmaceuticals during the first quarter valued at approximately $4,589,000. Finally, Plato Investment Management Ltd raised its stake in shares of Vertex Pharmaceuticals by 677.2% in the first quarter. Plato Investment Management Ltd now owns 6,140 shares of the pharmaceutical company’s stock valued at $2,567,000 after purchasing an additional 5,350 shares in the last quarter. 90.96% of the stock is owned by institutional investors.

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.