Vertex Pharmaceuticals’ (VRTX) Overweight Rating Reaffirmed at Cantor Fitzgerald

Vertex Pharmaceuticals (NASDAQ:VRTX)‘s stock had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald in a research report issued on Tuesday, Benzinga reports. They currently have a $480.00 price target on the pharmaceutical company’s stock. Cantor Fitzgerald’s price target would indicate a potential downside of 2.76% from the stock’s previous close.

VRTX has been the topic of a number of other research reports. Scotiabank initiated coverage on Vertex Pharmaceuticals in a research report on Wednesday, October 16th. They set a “sector perform” rating and a $480.00 price target on the stock. Oppenheimer reduced their target price on Vertex Pharmaceuticals from $550.00 to $540.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. StockNews.com downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. HC Wainwright reaffirmed a “buy” rating and set a $600.00 price objective on shares of Vertex Pharmaceuticals in a research report on Monday, October 21st. Finally, Raymond James reissued a “market perform” rating on shares of Vertex Pharmaceuticals in a report on Thursday, October 10th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $495.96.

Vertex Pharmaceuticals Stock Down 1.2 %

VRTX opened at $493.64 on Tuesday. The stock has a fifty day moving average of $474.81 and a 200-day moving average of $466.95. The company has a market capitalization of $127.41 billion, a P/E ratio of -248.06 and a beta of 0.39. Vertex Pharmaceuticals has a fifty-two week low of $341.90 and a fifty-two week high of $510.64. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.26 and a current ratio of 2.52.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, topping the consensus estimate of $3.61 by $0.77. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.88%. The business had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.69 billion. During the same quarter in the previous year, the company earned $3.67 EPS. The business’s revenue was up 11.6% on a year-over-year basis. On average, equities analysts expect that Vertex Pharmaceuticals will post -2.04 EPS for the current year.

Insiders Place Their Bets

In other news, Director Sangeeta N. Bhatia sold 646 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $500.00, for a total transaction of $323,000.00. Following the completion of the transaction, the director now owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 3,784 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $499.00, for a total value of $1,888,216.00. Following the sale, the chairman now owns 9,994 shares in the company, valued at approximately $4,987,006. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Sangeeta N. Bhatia sold 646 shares of the firm’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 of the company’s stock, valued at $2,217,500. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

Institutional Trading of Vertex Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. Northwest Investment Counselors LLC acquired a new position in shares of Vertex Pharmaceuticals in the 3rd quarter worth approximately $25,000. Highline Wealth Partners LLC bought a new position in Vertex Pharmaceuticals during the third quarter worth $27,000. GHP Investment Advisors Inc. acquired a new position in Vertex Pharmaceuticals in the second quarter valued at $29,000. Stephens Consulting LLC bought a new stake in Vertex Pharmaceuticals during the second quarter valued at $31,000. Finally, Founders Capital Management grew its holdings in Vertex Pharmaceuticals by 50.0% during the 2nd quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock worth $35,000 after acquiring an additional 25 shares during the period. 90.96% of the stock is currently owned by institutional investors.

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.