Weekly Research Analysts’ Ratings Changes for Vertex Pharmaceuticals (VRTX)

by · The Markets Daily

Vertex Pharmaceuticals (NASDAQ: VRTX) has recently received a number of price target changes and ratings updates:

  • 11/13/2024 – Vertex Pharmaceuticals was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
  • 11/6/2024 – Vertex Pharmaceuticals had its price target raised by analysts at Canaccord Genuity Group Inc. from $361.00 to $408.00. They now have a “sell” rating on the stock.
  • 11/5/2024 – Vertex Pharmaceuticals had its price target raised by analysts at Scotiabank from $480.00 to $486.00. They now have a “sector perform” rating on the stock.
  • 11/5/2024 – Vertex Pharmaceuticals had its price target raised by analysts at Royal Bank of Canada from $437.00 to $451.00. They now have a “sector perform” rating on the stock.
  • 11/5/2024 – Vertex Pharmaceuticals had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $480.00 price target on the stock.
  • 11/5/2024 – Vertex Pharmaceuticals had its price target lowered by analysts at JPMorgan Chase & Co. from $510.00 to $503.00. They now have an “overweight” rating on the stock.
  • 11/5/2024 – Vertex Pharmaceuticals had its price target raised by analysts at Morgan Stanley from $473.00 to $476.00. They now have an “equal weight” rating on the stock.
  • 11/5/2024 – Vertex Pharmaceuticals was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
  • 11/5/2024 – Vertex Pharmaceuticals had its price target raised by analysts at UBS Group AG from $562.00 to $586.00. They now have a “buy” rating on the stock.
  • 10/30/2024 – Vertex Pharmaceuticals had its price target lowered by analysts at Oppenheimer Holdings Inc. from $550.00 to $540.00. They now have an “outperform” rating on the stock.
  • 10/21/2024 – Vertex Pharmaceuticals had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $600.00 price target on the stock.
  • 10/17/2024 – Vertex Pharmaceuticals had its price target raised by analysts at UBS Group AG from $477.00 to $562.00. They now have a “buy” rating on the stock.
  • 10/16/2024 – Vertex Pharmaceuticals is now covered by analysts at Scotiabank. They set a “sector perform” rating and a $480.00 price target on the stock.
  • 10/14/2024 – Vertex Pharmaceuticals had its price target lowered by analysts at Bank of America Co. from $550.00 to $541.00. They now have a “buy” rating on the stock.
  • 10/10/2024 – Vertex Pharmaceuticals had its “market perform” rating reaffirmed by analysts at Raymond James.
  • 10/8/2024 – Vertex Pharmaceuticals had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $480.00 price target on the stock.
  • 10/4/2024 – Vertex Pharmaceuticals had its price target lowered by analysts at Royal Bank of Canada from $431.00 to $425.00. They now have a “sector perform” rating on the stock.
  • 10/1/2024 – Vertex Pharmaceuticals had its price target raised by analysts at Morgan Stanley from $462.00 to $474.00. They now have an “equal weight” rating on the stock.
  • 9/19/2024 – Vertex Pharmaceuticals had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $431.00 price target on the stock.

Vertex Pharmaceuticals Stock Performance

VRTX traded up $4.61 on Wednesday, reaching $494.61. The stock had a trading volume of 963,214 shares, compared to its average volume of 1,172,350. Vertex Pharmaceuticals Incorporated has a 12-month low of $341.90 and a 12-month high of $519.88. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01. The business’s 50-day moving average price is $475.81 and its two-hundred day moving average price is $470.31. The company has a market cap of $127.38 billion, a P/E ratio of -248.55 and a beta of 0.39.

Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last announced its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.61 by $0.77. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.69 billion. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter last year, the business earned $3.67 earnings per share. Sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.82 earnings per share for the current year.

Insider Buying and Selling at Vertex Pharmaceuticals

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in VRTX. Capital World Investors grew its position in Vertex Pharmaceuticals by 17.2% during the 1st quarter. Capital World Investors now owns 25,567,184 shares of the pharmaceutical company’s stock worth $10,687,339,000 after purchasing an additional 3,761,414 shares during the last quarter. Capital Research Global Investors grew its position in Vertex Pharmaceuticals by 61.0% during the 1st quarter. Capital Research Global Investors now owns 5,743,882 shares of the pharmaceutical company’s stock worth $2,401,000,000 after purchasing an additional 2,176,218 shares during the last quarter. Edgewood Management LLC grew its position in Vertex Pharmaceuticals by 7,876.3% during the 3rd quarter. Edgewood Management LLC now owns 1,546,370 shares of the pharmaceutical company’s stock worth $719,186,000 after purchasing an additional 1,526,983 shares during the last quarter. Jennison Associates LLC grew its position in Vertex Pharmaceuticals by 18.1% during the 3rd quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company’s stock worth $2,581,373,000 after purchasing an additional 851,054 shares during the last quarter. Finally, Swedbank AB purchased a new position in Vertex Pharmaceuticals during the 1st quarter worth $277,317,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

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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