Vertex Pharmaceuticals (NASDAQ:VRTX) had its target price lifted by analysts at Jefferies Financial Group from $295.00 to $340.00 in a research report issued on Tuesday, The Fly reports. The brokerage currently has a “buy” rating on the pharmaceutical company’s stock. Jefferies Financial Group’s price target would indicate a potential upside of 19.37% from the company’s current price.
A number of other research analysts have also commented on the company. Argus upped their price target on Vertex Pharmaceuticals from $270.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Royal Bank of Canada lowered shares of Vertex Pharmaceuticals from an “outperform” rating to a “sector perform” rating and upped their target price for the stock from $250.00 to $260.00 in a report on Tuesday, April 28th. They noted that the move was a valuation call. Cfra increased their target price on Vertex Pharmaceuticals from $286.00 to $297.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. BidaskClub upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, June 24th. Finally, JMP Securities raised their price objective on shares of Vertex Pharmaceuticals from $255.00 to $285.00 and gave the company a “market outperform” rating in a research report on Thursday, April 30th. Nine investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $289.73.
Shares of Vertex Pharmaceuticals stock opened at $284.82 on Tuesday. Vertex Pharmaceuticals has a 12-month low of $165.23 and a 12-month high of $306.08. The firm has a market capitalization of $76.34 billion, a PE ratio of 49.36, a price-to-earnings-growth ratio of 1.41 and a beta of 0.94. The company has a quick ratio of 3.42, a current ratio of 3.54 and a debt-to-equity ratio of 0.08. The stock’s fifty day moving average is $283.21 and its 200-day moving average is $251.59.
In related news, Chairman Jeffrey M. Leiden sold 94,372 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $269.94, for a total value of $25,474,777.68. Following the completion of the sale, the chairman now owns 76,707 shares in the company, valued at approximately $20,706,287.58. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Amit Sachdev sold 13,356 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $270.01, for a total value of $3,606,253.56. Following the sale, the executive vice president now directly owns 67,603 shares in the company, valued at approximately $18,253,486.03. The disclosure for this sale can be found here. Insiders sold a total of 305,351 shares of company stock worth $84,413,422 over the last quarter. 0.48% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the business. OmniStar Financial Group Inc. acquired a new stake in shares of Vertex Pharmaceuticals during the first quarter worth about $26,000. CX Institutional increased its stake in Vertex Pharmaceuticals by 103.8% during the 1st quarter. CX Institutional now owns 108 shares of the pharmaceutical company’s stock worth $26,000 after purchasing an additional 55 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Vertex Pharmaceuticals during the 1st quarter worth approximately $28,000. Manchester Financial Inc. acquired a new stake in Vertex Pharmaceuticals during the 2nd quarter worth approximately $30,000. Finally, Americana Partners LLC bought a new position in Vertex Pharmaceuticals in the fourth quarter valued at approximately $37,000. Institutional investors own 93.42% of the company’s stock.
About Vertex Pharmaceuticals
Vertex Pharmaceuticals Incorporated 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.
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