Vertex Pharmaceuticals (NASDAQ:VRTX) Receives Overweight Rating from Cantor Fitzgerald

Vertex Pharmaceuticals (NASDAQ:VRTX)‘s stock had its “overweight” rating restated by Cantor Fitzgerald in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $535.00 price objective on the pharmaceutical company’s stock. Cantor Fitzgerald’s price target indicates a potential upside of 12.04% from the stock’s previous close.

VRTX has been the topic of a number of other research reports. Royal Bank of Canada raised their target price on Vertex Pharmaceuticals from $408.00 to $420.00 and gave the company a “sector perform” rating in a report on Tuesday, April 1st. HC Wainwright reiterated a “buy” rating and issued a $550.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. JPMorgan Chase & Co. dropped their target price on shares of Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Piper Sandler reduced their price target on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. Finally, Scotiabank upped their price objective on shares of Vertex Pharmaceuticals from $433.00 to $450.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 11th. Ten analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $514.91.

Vertex Pharmaceuticals Stock Down 2.4 %

Shares of NASDAQ VRTX opened at $477.52 on Tuesday. Vertex Pharmaceuticals has a 52 week low of $377.85 and a 52 week high of $519.88. The stock’s fifty day moving average is $487.25 and its 200 day moving average is $465.46. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69. The stock has a market capitalization of $122.62 billion, a P/E ratio of -217.05, a PEG ratio of 2.11 and a beta of 0.50.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 EPS for the quarter, missing the consensus estimate of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. Sell-side analysts forecast that Vertex Pharmaceuticals will post 15.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Ourania Tatsis sold 244 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total transaction of $111,034.64. Following the completion of the sale, the executive vice president now owns 67,695 shares of the company’s stock, valued at $30,805,286.70. This trade represents a 0.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP David Altshuler sold 3,231 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the transaction, the executive vice president now owns 26,512 shares in the company, valued at $13,256,000. The trade was a 10.86 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,315 shares of company stock worth $2,121,012. Company insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. ABC Arbitrage SA bought a new stake in Vertex Pharmaceuticals in the 4th quarter valued at about $1,510,000. Czech National Bank raised its position in shares of Vertex Pharmaceuticals by 6.2% during the fourth quarter. Czech National Bank now owns 55,838 shares of the pharmaceutical company’s stock worth $22,486,000 after purchasing an additional 3,260 shares during the period. Highview Capital Management LLC DE grew its position in Vertex Pharmaceuticals by 1.8% in the 4th quarter. Highview Capital Management LLC DE now owns 5,771 shares of the pharmaceutical company’s stock valued at $2,324,000 after purchasing an additional 102 shares during the period. Davidson Investment Advisors raised its holdings in Vertex Pharmaceuticals by 26.0% during the fourth quarter. Davidson Investment Advisors now owns 61,161 shares of the pharmaceutical company’s stock worth $24,630,000 after buying an additional 12,631 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in shares of Vertex Pharmaceuticals by 75.5% in the fourth quarter. Jones Financial Companies Lllp now owns 2,468 shares of the pharmaceutical company’s stock valued at $994,000 after buying an additional 1,062 shares in the last quarter. 90.96% of the stock is owned by 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.