Vertex Pharmaceuticals (NASDAQ:VRTX) Given New $586.00 Price Target at UBS Group

Vertex Pharmaceuticals (NASDAQ:VRTX) had its target price lifted by UBS Group from $562.00 to $586.00 in a research report released on Tuesday morning, Benzinga reports. They currently have a buy rating on the pharmaceutical company’s stock.

VRTX has been the topic of a number of other research reports. Oppenheimer lowered their target price on shares of Vertex Pharmaceuticals from $550.00 to $540.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Piper Sandler lifted their target price on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Barclays cut shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $472.00 to $509.00 in a research note on Monday, August 5th. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating on the stock in a research note on Tuesday. Three analysts have rated the stock with a sell rating, nine have given a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $494.63.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock opened at $499.88 on Tuesday. Vertex Pharmaceuticals has a 1 year low of $341.90 and a 1 year high of $510.64. The firm has a fifty day moving average price of $474.73 and a 200-day moving average price of $466.76. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.52 and a quick ratio of 2.26.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.61 by $0.77. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.88%. The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter in the previous year, the firm posted $3.67 EPS. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Vertex Pharmaceuticals will post -2.04 earnings per share for the current year.

Insider Activity at Vertex Pharmaceuticals

In related news, Director Sangeeta N. Bhatia sold 646 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $500.00, for a total transaction of $323,000.00. Following the transaction, the director now directly owns 4,435 shares in the company, valued at approximately $2,217,500. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 3,784 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $499.00, for a total value of $1,888,216.00. Following the transaction, the chairman now directly owns 9,994 shares in the company, valued at $4,987,006. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sangeeta N. Bhatia sold 646 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $500.00, for a total transaction of $323,000.00. Following the completion of the transaction, the director now owns 4,435 shares in the company, valued at $2,217,500. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Vertex Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in VRTX. Groesbeck Investment Management Corp NJ grew its holdings in Vertex Pharmaceuticals by 1.2% during the 2nd quarter. Groesbeck Investment Management Corp NJ now owns 1,794 shares of the pharmaceutical company’s stock worth $841,000 after acquiring an additional 21 shares in the last quarter. Mutual Advisors LLC lifted its position in shares of Vertex Pharmaceuticals by 0.6% in the 3rd quarter. Mutual Advisors LLC now owns 3,710 shares of the pharmaceutical company’s stock worth $1,751,000 after purchasing an additional 21 shares during the period. Institute for Wealth Management LLC. increased its holdings in Vertex Pharmaceuticals by 0.6% during the second quarter. Institute for Wealth Management LLC. now owns 3,586 shares of the pharmaceutical company’s stock valued at $1,681,000 after buying an additional 22 shares during the period. Drive Wealth Management LLC raised its stake in Vertex Pharmaceuticals by 2.0% in the second quarter. Drive Wealth Management LLC now owns 1,101 shares of the pharmaceutical company’s stock worth $516,000 after buying an additional 22 shares in the last quarter. Finally, Daymark Wealth Partners LLC lifted its holdings in Vertex Pharmaceuticals by 2.8% during the third quarter. Daymark Wealth Partners LLC now owns 804 shares of the pharmaceutical company’s stock worth $374,000 after buying an additional 22 shares during the period. Institutional investors own 90.96% of the company’s stock.

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.