UBS Group Increases Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target to $562.00

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price objective boosted by UBS Group from $477.00 to $562.00 in a research note issued to investors on Thursday morning, MarketBeat.com reports. UBS Group currently has a buy rating on the pharmaceutical company’s stock.

A number of other research firms have also issued reports on VRTX. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, July 26th. TD Cowen upped their target price on Vertex Pharmaceuticals from $450.00 to $500.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. lifted their price target on Vertex Pharmaceuticals from $505.00 to $510.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Canaccord Genuity Group upped their price objective on shares of Vertex Pharmaceuticals from $371.00 to $376.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. Finally, Redburn Atlantic started coverage on shares of Vertex Pharmaceuticals in a research note on Thursday, June 27th. They set a “buy” rating and a $545.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $492.92.

Vertex Pharmaceuticals Stock Down 3.2 %

NASDAQ VRTX opened at $483.00 on Thursday. The business has a fifty day moving average price of $475.21 and a 200 day moving average price of $460.23. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.26 and a current ratio of 2.52. The company has a market cap of $124.66 billion, a P/E ratio of -237.93 and a beta of 0.40. Vertex Pharmaceuticals has a one year low of $341.90 and a one year high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.66 billion. Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. Vertex Pharmaceuticals’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the company earned $3.53 earnings per share. Research analysts anticipate that Vertex Pharmaceuticals will post -2.11 EPS for the current fiscal year.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 2,280 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $488.46, for a total transaction of $1,113,688.80. Following the sale, the chief marketing officer now owns 25,539 shares in the company, valued at $12,474,779.94. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CMO Carmen Bozic sold 2,280 shares of Vertex Pharmaceuticals stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $488.46, for a total transaction of $1,113,688.80. Following the completion of the sale, the chief marketing officer now directly owns 25,539 shares of the company’s stock, valued at approximately $12,474,779.94. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the stock in a transaction on 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 completion of the transaction, the chairman now directly owns 9,994 shares in the company, valued at $4,987,006. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,285 shares of company stock valued at $7,101,755 in the last ninety days. Company insiders own 0.20% of the company’s stock.

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. Allspring Global Investments Holdings LLC boosted its holdings in shares of Vertex Pharmaceuticals by 18.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 236,326 shares of the pharmaceutical company’s stock valued at $109,911,000 after buying an additional 37,399 shares in the last quarter. Cyndeo Wealth Partners LLC purchased a new stake in Vertex Pharmaceuticals in the third quarter valued at $600,000. Cedrus LLC boosted its stake in Vertex Pharmaceuticals by 18.3% in the third quarter. Cedrus LLC now owns 774 shares of the pharmaceutical company’s stock valued at $360,000 after acquiring an additional 120 shares in the last quarter. Resonant Capital Advisors LLC grew its holdings in shares of Vertex Pharmaceuticals by 13.4% during the third quarter. Resonant Capital Advisors LLC now owns 1,226 shares of the pharmaceutical company’s stock worth $570,000 after purchasing an additional 145 shares during the last quarter. Finally, Veracity Capital LLC grew its holdings in shares of Vertex Pharmaceuticals by 16.7% during the third quarter. Veracity Capital LLC now owns 1,618 shares of the pharmaceutical company’s stock worth $752,000 after purchasing an additional 232 shares during the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

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.