Vertex Pharmaceuticals (NASDAQ:VRTX) Stock Rating Reaffirmed by HC Wainwright

by · The Cerbat Gem

HC Wainwright reaffirmed their buy rating on shares of Vertex Pharmaceuticals (NASDAQ:VRTX – Free Report) in a research note released on Monday morning, Benzinga reports. The firm currently has a $600.00 target price on the pharmaceutical company’s stock.

Several other analysts have also recently weighed in on the stock. Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday, July 26th. Piper Sandler increased their price target on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Raymond James reissued a “market perform” rating on shares of Vertex Pharmaceuticals in a research note on Thursday, October 10th. StockNews.com cut shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Finally, Truist Financial reissued a “buy” rating and issued a $550.00 price target (up previously from $508.00) on shares of Vertex Pharmaceuticals in a research note on Monday, August 5th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $492.92.

Get Our Latest Analysis on Vertex Pharmaceuticals

Vertex Pharmaceuticals Stock Up 0.4 %

VRTX opened at $471.91 on Monday. Vertex Pharmaceuticals has a twelve month low of $341.90 and a twelve month high of $510.64. The company has a market cap of $121.80 billion, a PE ratio of -232.47 and a beta of 0.40. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 0.02. The company has a 50-day moving average price of $475.60 and a 200 day moving average price of $461.29.

Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The business had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same period in the prior year, the company posted $3.53 EPS. The firm’s revenue was up 6.1% on a year-over-year basis. Sell-side analysts expect that Vertex Pharmaceuticals will post -2.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Bruce I. Sachs sold 5,295 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $508.00, for a total value of $2,689,860.00. Following the completion of the transaction, the director now owns 40,000 shares in the company, valued at $20,320,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Bruce I. Sachs sold 5,295 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $508.00, for a total value of $2,689,860.00. Following the completion of the transaction, the director now owns 40,000 shares in the company, valued at $20,320,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CMO Carmen Bozic sold 2,280 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $476.75, for a total value of $1,086,990.00. Following the completion of the transaction, the chief marketing officer now owns 23,259 shares of the company’s stock, valued at approximately $11,088,728.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,005 shares of company stock worth $5,988,066. 0.20% of the stock is owned by corporate insiders.

Institutional Trading of Vertex Pharmaceuticals

A number of large investors have recently made changes to their positions in VRTX. RFG Advisory LLC boosted its stake in shares of Vertex Pharmaceuticals by 30.5% during the first quarter. RFG Advisory LLC now owns 1,415 shares of the pharmaceutical company’s stock valued at $591,000 after acquiring an additional 331 shares during the last quarter. AdvisorNet Financial Inc boosted its stake in Vertex Pharmaceuticals by 4.7% in the 1st quarter. AdvisorNet Financial Inc now owns 1,186 shares of the pharmaceutical company’s stock worth $496,000 after buying an additional 53 shares during the last quarter. Riverview Trust Co acquired a new stake in Vertex Pharmaceuticals in the 1st quarter worth about $81,000. Dynamic Advisor Solutions LLC boosted its stake in Vertex Pharmaceuticals by 143.5% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 5,706 shares of the pharmaceutical company’s stock worth $2,385,000 after buying an additional 3,363 shares during the last quarter. Finally, Security National Bank purchased a new position in shares of Vertex Pharmaceuticals in the 1st quarter worth about $125,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Company Profile

(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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