Vertex Pharmaceuticals (NASDAQ:VRTX) Given “Market Perform” Rating at Raymond James

Raymond James reissued their market perform rating on shares of Vertex Pharmaceuticals (NASDAQ:VRTX) in a report released on Thursday morning, MarketBeat reports.

A number of other research analysts also recently commented on VRTX. Needham & Company LLC reiterated a hold rating on shares of Vertex Pharmaceuticals in a research report on Friday, July 26th. Royal Bank of Canada dropped their target price on Vertex Pharmaceuticals from $431.00 to $425.00 and set a sector perform rating for the company in a research report on Friday, October 4th. HC Wainwright upped their target price on shares of Vertex Pharmaceuticals from $500.00 to $600.00 and gave the stock a buy rating in a research note on Monday, August 5th. Cantor Fitzgerald restated an overweight rating and set a $480.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, October 8th. Finally, Truist Financial reissued a buy rating and issued a $550.00 price objective (up previously from $508.00) on shares of Vertex Pharmaceuticals in a research note on Monday, August 5th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $486.95.

Vertex Pharmaceuticals Stock Up 1.2 %

NASDAQ VRTX opened at $481.71 on Thursday. The company has a current ratio of 2.52, a quick ratio of 2.26 and a debt-to-equity ratio of 0.02. Vertex Pharmaceuticals has a 12 month low of $341.90 and a 12 month high of $510.64. The stock’s 50 day moving average is $473.48 and its 200 day moving average is $457.67. The stock has a market cap of $124.33 billion, a PE ratio of -237.30 and a beta of 0.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share for the quarter, missing the consensus estimate of ($12.54) by ($0.29). The company had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.66 billion. Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The business’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the business posted $3.53 earnings per share. Research analysts predict that Vertex Pharmaceuticals will post -2.14 EPS for the current fiscal year.

Insider Activity

In related news, CEO Reshma Kewalramani sold 15,202 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $497.00, for a total value of $7,555,394.00. Following the completion of the sale, the chief executive officer now owns 106,172 shares in the company, valued at $52,767,484. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Reshma Kewalramani sold 15,202 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $497.00, for a total value of $7,555,394.00. Following the completion of the transaction, the chief executive officer now directly owns 106,172 shares of the company’s stock, valued at $52,767,484. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sangeeta N. Bhatia sold 646 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $500.00, for a total value of $323,000.00. Following the completion of the sale, the director now directly owns 4,435 shares in the company, valued at $2,217,500. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,487 shares of company stock valued at $14,657,149 over the last quarter. Corporate insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Vertex Pharmaceuticals

Several hedge funds have recently bought and sold shares of VRTX. University of Texas Texas AM Investment Managment Co. acquired a new position in Vertex Pharmaceuticals in the 4th quarter valued at about $25,000. Annapolis Financial Services LLC acquired a new position in Vertex Pharmaceuticals in the 1st quarter valued at $27,000. GHP Investment Advisors Inc. purchased a new position in shares of Vertex Pharmaceuticals during the 2nd quarter worth $29,000. Stephens Consulting LLC acquired a new stake in shares of Vertex Pharmaceuticals during the second quarter worth $31,000. Finally, Founders Capital Management increased its stake in Vertex Pharmaceuticals by 50.0% in the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock valued at $35,000 after purchasing an additional 25 shares during the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

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.