Vertex Pharmaceuticals (NASDAQ:VRTX) Upgraded at StockNews.com

StockNews.com upgraded shares of Vertex Pharmaceuticals (NASDAQ:VRTX) from a buy rating to a strong-buy rating in a report published on Wednesday.

Several other research firms have also weighed in on VRTX. Barclays lowered Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $472.00 to $509.00 in a research note on Monday, August 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, July 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $480.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday, November 5th. Raymond James reiterated a “market perform” rating on shares of Vertex Pharmaceuticals in a research report on Thursday, October 10th. Finally, Bank of America decreased their price target on shares of Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $499.12.

Vertex Pharmaceuticals Stock Down 3.8 %

Shares of Vertex Pharmaceuticals stock opened at $465.70 on Wednesday. The firm’s 50-day moving average price is $476.44 and its two-hundred day moving average price is $470.57. 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 has a 12-month low of $341.90 and a 12-month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced 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. The business had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.69 billion. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the firm posted $3.67 earnings per share. As a group, sell-side analysts predict that Vertex Pharmaceuticals will post -1.82 earnings per share for the current year.

Insider Activity

In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction that occurred on 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 owns 4,435 shares of the company’s stock, valued at $2,217,500. This trade represents a 12.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of Vertex Pharmaceuticals stock in a transaction on Friday, August 30th. The stock was sold at an average price of $499.00, for a total value of $1,888,216.00. Following the sale, the chairman now owns 9,994 shares in the company, valued at $4,987,006. This trade represents a 27.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Large investors have recently made changes to their positions in the business. Northwest Investment Counselors LLC bought a new stake in Vertex Pharmaceuticals in the third quarter worth about $25,000. Highline Wealth Partners LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter worth approximately $27,000. Dunhill Financial LLC raised its holdings in shares of Vertex Pharmaceuticals by 70.6% in the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 24 shares during the period. GHP Investment Advisors Inc. purchased a new position in Vertex Pharmaceuticals in the second quarter valued at approximately $29,000. Finally, Stephens Consulting LLC bought a new position in Vertex Pharmaceuticals during the second quarter valued at $31,000. 90.96% of the stock is owned by hedge funds and other 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.