In early trading on Monday, shares of $Vertex Pharmaceuticals (VRTX)$ topped the list of the day's best performing components of the Nasdaq 100 index, trading up 3.0%. Year to date, Vertex Pharmaceuticals registers a 40.8% gain.
$Vertex Pharmaceuticals(VRTX)$ had its price target boosted by stock analysts at JPMorgan Chase & Co.from $319.00 to $327.00 in a research note issued to investors on Monday,The Flyreports. JPMorgan Chase & Co.'s price target suggests a potential upside of 10.53% from the company's previous close.
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A number of other equities analysts have also weighed in on $(VRTX)$. Cantor Fitzgerald started coverage on shares of Vertex Pharmaceuticals in a research report on Tuesday, July 12th. They set an "overweight" rating and a $365.00 price target on the stock.
StockNews.com assumed coverage on Vertex Pharmaceuticals in a report on Wednesday, October 12th. They issued a "strong-buy" rating for the company. Piper Sandler upped their target price on Vertex Pharmaceuticals from $288.00 to $293.00 in a report on Sunday, October 16th. Barclays lifted their price target on Vertex Pharmaceuticals from $291.00 to $307.00 and gave the stock an "overweight" rating in a report on Friday, August 5th. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $293.85.
Shares of Vertex Pharmaceuticals stockopened at $295.84 on Monday. The firm has a 50-day simple moving average of $290.49 and a two-hundred day simple moving average of $280.00. Vertex Pharmaceuticals has a fifty-two week low of $179.96 and a fifty-two week high of $305.95. The company has a market cap of $75.87 billion, a P/E ratio of 23.92, a price-to-earnings-growth ratio of 2.12 and a beta of 0.42. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.36 and a current ratio of 4.50.
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$Vertex Pharmaceuticals(VRTX)$ last issued its Q2 quarterly earnings results on Thursday, August 4th. The pharmaceutical company reported $3.25 EPS for the quarter, topping the consensus estimate of $3.05 by $0.20. The firm had revenue of $2.20 billion during the quarter, compared to analysts' expectations of $2.13 billion. Vertex Pharmaceuticals had a return on equity of 31.22% and a net margin of 38.26%. The firm's revenue for the quarter was up 22.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.80 earnings per share. As a group, equities analysts predict that Vertex Pharmaceuticals will post 12.67 earnings per share for the current fiscal year.
- Insider Buying and Selling at Vertex Pharmaceuticals
In related news, Director Sangeeta N. Bhatia sold 621 shares of the business's stock in a transaction on Monday, August 8th. The shares were sold at an average price of $293.03, for a total transaction of $181,971.63. Following the completion of the transaction, the director now owns 4,661 shares in the company, valued at $1,365,812.83. The sale was disclosed in a legal filing with the SEC, which is accessible throughthe SEC website.
In related news, EVPBastiano Sannasold 1,791 shares of the business's stock in a transaction that occurred on Tuesday, October 18th. The stock was sold at an average price of $300.31, for a total transaction of $537,855.21. Following the completion of the sale, the executive vice president now owns 39,192 shares in the company, valued at $11,769,749.52. The transaction was disclosed in a document filed with the SEC, which is available throughthe SEC website.
Also, DirectorSangeeta N. Bhatiasold 621 shares of the firm's stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $293.03, for a total transaction of $181,971.63. Following the sale, the director now directly owns 4,661 shares in the company, valued at approximately $1,365,812.83. The disclosure for this sale can be foundhere. In the last three months, insiders have sold 48,678 shares of company stock valued at $14,749,713. Insiders own 0.40% of the company's stock.
- A number of hedge funds have recently modified their holdings of the stock.
Vanguard Group Inc. increased its position in shares of Vertex Pharmaceuticals by 1.6% during the first quarter. Vanguard Group Inc. now owns 20,473,471 shares of the pharmaceutical company's stock worth $5,342,963,000 after purchasing an additional 317,629 shares in the last quarter.
FMR LLC boosted its holdings in shares of Vertex Pharmaceuticals by 27.1% in the second quarter. FMR LLC now owns 16,753,011 shares of the pharmaceutical company's stock valued at $4,720,832,000 after acquiring an additional 3,571,298 shares during the period.
Capital World Investors increased its holdings in shares of Vertex Pharmaceuticals by 9.9% in the 1st quarter. Capital World Investors now owns 12,666,130 shares of the pharmaceutical company's stock valued at $3,305,417,000 after acquiring an additional 1,145,275 shares during the period.
State Street Corp boosted its stake in Vertex Pharmaceuticals by 1.8% during the 2nd quarter. State Street Corp now owns 12,264,049 shares of the pharmaceutical company's stock worth $3,455,886,000 after purchasing an additional 211,286 shares during the period.
Finally, Wellington Management Group LLP grew its position in Vertex Pharmaceuticals by 23.6% during the 1st quarter. Wellington Management Group LLP now owns 8,053,710 shares of the pharmaceutical company's stock worth $2,101,776,000 after purchasing an additional 1,535,255 shares during the last quarter. 91.33% of the stock is owned by hedge funds and other institutional investors.
- About Vertex Pharmaceuticals
Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene; and TRIKAFTA for the treatment of patients with CF 6 years of age or older who have at least one F508del mutation.
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Source: https://www.marketbeat.com/instant-alerts/nasdaq-vrtx-a-buy-or-sell-right-now-2022-10-2-3/
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