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

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

Several other equities research analysts also recently commented on VRTX. Oppenheimer reiterated an outperform rating and set a $500.00 price objective on shares of Vertex Pharmaceuticals in a research note on Monday, April 15th. Evercore ISI raised shares of Vertex Pharmaceuticals from an in-line rating to an outperform rating and set a $438.00 price objective for the company in a report on Thursday, April 11th. Robert W. Baird cut shares of Vertex Pharmaceuticals from a neutral rating to an underperform rating and set a $325.00 price objective for the company. in a report on Wednesday, January 31st. HC Wainwright reaffirmed a buy rating and issued a $462.00 price objective on shares of Vertex Pharmaceuticals in a report on Tuesday, May 7th. Finally, Wells Fargo & Company lifted their price objective on shares of Vertex Pharmaceuticals from $500.00 to $540.00 and gave the company an overweight rating in a report on Tuesday, February 6th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $432.18.

Vertex Pharmaceuticals Stock Performance

Vertex Pharmaceuticals stock opened at $447.53 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.50 and a quick ratio of 3.29. Vertex Pharmaceuticals has a 1-year low of $320.01 and a 1-year high of $449.91. The firm has a market capitalization of $115.49 billion, a P/E ratio of 29.04, a price-to-earnings-growth ratio of 2.13 and a beta of 0.39. The company’s 50-day moving average is $411.66 and its 200 day moving average is $405.78.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 EPS for the quarter, topping analysts’ consensus estimates of $3.66 by $1.10. The business had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.58 billion. Vertex Pharmaceuticals had a net margin of 39.46% and a return on equity of 23.08%. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period last year, the company posted $2.67 earnings per share. Research analysts forecast that Vertex Pharmaceuticals will post 15.28 EPS for the current year.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 354 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $425.70, for a total value of $150,697.80. Following the completion of 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 filing with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Allworth Financial LP boosted its holdings in shares of Vertex Pharmaceuticals by 19.0% in the third quarter. Allworth Financial LP now owns 1,084 shares of the pharmaceutical company’s stock valued at $377,000 after acquiring an additional 173 shares in the last quarter. Coldstream Capital Management Inc. boosted its holdings in Vertex Pharmaceuticals by 2.4% during the third quarter. Coldstream Capital Management Inc. now owns 3,700 shares of the pharmaceutical company’s stock worth $1,287,000 after buying an additional 86 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in Vertex Pharmaceuticals by 14.1% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,962 shares of the pharmaceutical company’s stock worth $2,073,000 after buying an additional 739 shares in the last quarter. Convergence Investment Partners LLC boosted its holdings in Vertex Pharmaceuticals by 67.6% during the third quarter. Convergence Investment Partners LLC now owns 1,321 shares of the pharmaceutical company’s stock worth $459,000 after buying an additional 533 shares in the last quarter. Finally, Hartford Funds Management Co LLC boosted its holdings in Vertex Pharmaceuticals by 6.9% during the third quarter. Hartford Funds Management Co LLC now owns 826 shares of the pharmaceutical company’s stock worth $287,000 after buying an additional 53 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

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.