Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Stock Has Consensus Target Price of $579.81

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) has been given an average rating of “Moderate Buy” by the twenty-eight research firms that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $579.81.

VRTX has been the subject of a number of analyst reports. Rothschild & Co Redburn lifted their price objective on shares of Vertex Pharmaceuticals from $570.00 to $580.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Truist Financial upped their target price on shares of Vertex Pharmaceuticals from $560.00 to $565.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Canaccord Genuity Group raised their price target on shares of Vertex Pharmaceuticals from $436.00 to $442.00 and gave the company a “hold” rating in a research report on Tuesday, August 4th. Sanford C. Bernstein raised shares of Vertex Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, July 29th. Finally, Stifel Nicolaus set a $500.00 price target on Vertex Pharmaceuticals and gave the company a “hold” rating in a research note on Tuesday, August 4th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Community Financial Services Group LLC purchased a new stake in Vertex Pharmaceuticals during the 2nd quarter worth about $26,000. Meeder Asset Management Inc. bought a new position in Vertex Pharmaceuticals in the 2nd quarter worth about $26,000. Elevation Wealth Partners LLC grew its holdings in Vertex Pharmaceuticals by 103.7% during the 2nd quarter. Elevation Wealth Partners LLC now owns 55 shares of the pharmaceutical company’s stock valued at $27,000 after buying an additional 28 shares in the last quarter. Pingora Partners LLC purchased a new position in Vertex Pharmaceuticals during the 2nd quarter valued at about $32,000. Finally, City Holding Co. grew its holdings in Vertex Pharmaceuticals by 128.1% during the 2nd quarter. City Holding Co. now owns 73 shares of the pharmaceutical company’s stock valued at $36,000 after buying an additional 41 shares in the last quarter. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Up 0.4%

NASDAQ VRTX opened at $501.95 on Tuesday. The company has a fifty day simple moving average of $523.10 and a 200 day simple moving average of $481.20. Vertex Pharmaceuticals has a 12-month low of $403.16 and a 12-month high of $560.25. The company has a market cap of $127.39 billion, a P/E ratio of 29.22, a PEG ratio of 2.40 and a beta of 0.28.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share for the quarter, missing the consensus estimate of $4.74 by ($0.01). Vertex Pharmaceuticals had a return on equity of 23.09% and a net margin of 35.00%. The business had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.23 billion. During the same quarter in the previous year, the company posted $4.52 EPS. The business’s quarterly revenue was up 12.5% on a year-over-year basis. Sell-side analysts predict that Vertex Pharmaceuticals will post 16.73 EPS for the current year.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Incorporated is a global biotechnology company focused on developing and commercializing medicines for serious diseases. Founded in 1989 and headquartered in Boston, Massachusetts, the company applies expertise in the science of human disease to discover therapies that address significant unmet medical needs.

Vertex is best known for its cystic fibrosis portfolio, which includes Kalydeco, Orkambi, Symdeko/Symkevi, and Trikafta/Kaftrio. These medicines target the underlying cause of cystic fibrosis for patients with specific mutations in the CFTR gene.