SVB Leerink Increases Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target to $274.00

Vertex Pharmaceuticals (NASDAQ:VRTX) had its target price boosted by stock analysts at SVB Leerink from $263.00 to $274.00 in a report issued on Friday, BenzingaRatingsTable reports. The brokerage presently has a “market perform” rating on the pharmaceutical company’s stock. SVB Leerink’s target price suggests a potential upside of 0.74% from the stock’s current price.

A number of other equities analysts also recently commented on the company. Piper Sandler lifted their target price on Vertex Pharmaceuticals from $302.00 to $327.00 and gave the company an “overweight” rating in a research note on Friday. Citigroup lifted their target price on Vertex Pharmaceuticals from $305.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, June 12th. Cowen lifted their target price on Vertex Pharmaceuticals from $265.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. BMO Capital Markets lifted their price target on Vertex Pharmaceuticals from $279.00 to $283.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. Finally, Cfra lifted their price target on Vertex Pharmaceuticals from $286.00 to $297.00 and gave the company a “buy” rating in a report on Thursday, April 30th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $295.81.

NASDAQ:VRTX opened at $272.00 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.42 and a current ratio of 3.54. The stock has a 50-day simple moving average of $287.06 and a 200 day simple moving average of $257.51. Vertex Pharmaceuticals has a one year low of $165.23 and a one year high of $306.08. The company has a market capitalization of $72.44 billion, a price-to-earnings ratio of 34.34, a price-to-earnings-growth ratio of 1.35 and a beta of 0.94.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Thursday, July 30th. The pharmaceutical company reported $2.61 EPS for the quarter, beating the Zacks’ consensus estimate of $1.75 by $0.86. Vertex Pharmaceuticals had a return on equity of 30.45% and a net margin of 38.51%. The company had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.41 billion. On average, equities research analysts forecast that Vertex Pharmaceuticals will post 7.33 EPS for the current fiscal year.

In other Vertex Pharmaceuticals news, EVP Amit Sachdev sold 13,356 shares of the company’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 transaction, the executive vice president now owns 67,603 shares of the company’s stock, valued at $18,253,486.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Paul M. Silva sold 860 shares of the company’s stock in a transaction on Monday, July 13th. The shares were sold at an average price of $292.03, for a total value of $251,145.80. Following the completion of the transaction, the senior vice president now directly owns 15,792 shares in the company, valued at approximately $4,611,737.76. The disclosure for this sale can be found here. Insiders sold 298,911 shares of company stock worth $82,787,831 in the last ninety days. 0.70% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Roman Butler Fullerton & Co. increased its holdings in shares of Vertex Pharmaceuticals by 0.9% in the second quarter. Roman Butler Fullerton & Co. now owns 4,345 shares of the pharmaceutical company’s stock valued at $1,261,000 after buying an additional 38 shares in the last quarter. Eudaimonia Partners LLC grew its position in Vertex Pharmaceuticals by 12.7% during the 1st quarter. Eudaimonia Partners LLC now owns 354 shares of the pharmaceutical company’s stock worth $84,000 after purchasing an additional 40 shares in the last quarter. 1776 Wealth LLC grew its position in Vertex Pharmaceuticals by 26.6% during the 1st quarter. 1776 Wealth LLC now owns 195 shares of the pharmaceutical company’s stock worth $46,000 after purchasing an additional 41 shares in the last quarter. Baystate Wealth Management LLC grew its position in Vertex Pharmaceuticals by 37.3% during the 2nd quarter. Baystate Wealth Management LLC now owns 151 shares of the pharmaceutical company’s stock worth $44,000 after purchasing an additional 41 shares in the last quarter. Finally, Fulton Breakefield Broenniman LLC grew its position in Vertex Pharmaceuticals by 1.7% during the 1st quarter. Fulton Breakefield Broenniman LLC now owns 2,696 shares of the pharmaceutical company’s stock worth $642,000 after purchasing an additional 45 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Vertex Pharmaceuticals (NASDAQ:VRTX)

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