Vertex Pharmaceuticals (NASDAQ:VRTX) Reaches New 1-Year High – Time to Buy?

by · The Markets Daily

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Get Free Report)’s stock price hit a new 52-week high during trading on Friday . The stock traded as high as $510.70 and last traded at $510.38, with a volume of 42505 shares traded. The stock had previously closed at $502.45.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Piper Sandler upped their target price on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Canaccord Genuity Group raised their target price on shares of Vertex Pharmaceuticals from $361.00 to $408.00 and gave the company a “sell” rating in a report on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $480.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday. Royal Bank of Canada raised their price objective on shares of Vertex Pharmaceuticals from $437.00 to $451.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $600.00 target price on shares of Vertex Pharmaceuticals in a research note on Monday, October 21st. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $495.96.

Check Out Our Latest Stock Report on Vertex Pharmaceuticals

Vertex Pharmaceuticals Trading Up 2.1 %

The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.26. The business’s fifty day simple moving average is $474.81 and its 200 day simple moving average is $466.95.

Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last released its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.61 by $0.77. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The company had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.69 billion. During the same quarter in the prior year, the business posted $3.67 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. Sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post -2.04 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Chairman Jeffrey M. Leiden sold 3,784 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the completion of the sale, the chairman now directly owns 9,994 shares of the company’s stock, valued at $4,987,006. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, 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 value of $323,000.00. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the completion of the transaction, the chairman now owns 9,994 shares in the company, valued at approximately $4,987,006. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by insiders.

Institutional Trading of Vertex Pharmaceuticals

A number of institutional investors have recently bought and sold shares of VRTX. Creative Planning lifted its stake in shares of Vertex Pharmaceuticals by 5.3% in the 2nd quarter. Creative Planning now owns 79,117 shares of the pharmaceutical company’s stock valued at $37,084,000 after purchasing an additional 3,998 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Vertex Pharmaceuticals by 640.0% during the 2nd quarter. Blue Trust Inc. now owns 1,443 shares of the pharmaceutical company’s stock valued at $676,000 after acquiring an additional 1,248 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter valued at approximately $74,213,000. Susquehanna Fundamental Investments LLC acquired a new position in Vertex Pharmaceuticals during the second quarter worth $21,008,000. Finally, Canada Pension Plan Investment Board boosted its position in Vertex Pharmaceuticals by 8.0% in the first quarter. Canada Pension Plan Investment Board now owns 386,648 shares of the pharmaceutical company’s stock valued at $161,623,000 after buying an additional 28,747 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

About Vertex Pharmaceuticals

(Get Free Report)

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.

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