Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target Raised to $430.00

Vertex Pharmaceuticals (NASDAQ:VRTX) had its target price lifted by Scotiabank from $426.00 to $430.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a sector perform rating on the pharmaceutical company’s stock.

Several other equities research analysts also recently issued reports on VRTX. Canaccord Genuity Group lifted their price target on shares of Vertex Pharmaceuticals from $361.00 to $408.00 and gave the stock a “sell” rating in a research note on Wednesday, November 6th. HC Wainwright reduced their price target on Vertex Pharmaceuticals from $600.00 to $535.00 and set a “buy” rating for the company in a report on Friday, December 20th. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, December 20th. Oppenheimer cut Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Finally, UBS Group upped their price target on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $494.04.

Vertex Pharmaceuticals Stock Up 0.7 %

Shares of NASDAQ VRTX opened at $408.18 on Monday. The stock has a market capitalization of $105.12 billion, a PE ratio of -205.12 and a beta of 0.36. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. The firm has a fifty day moving average of $467.30 and a 200-day moving average of $474.16. Vertex Pharmaceuticals has a 52-week low of $377.85 and a 52-week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, beating analysts’ consensus estimates of $3.61 by $0.77. The firm had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.69 billion. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. Vertex Pharmaceuticals’s revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company posted $3.67 earnings per share. On average, analysts anticipate that Vertex Pharmaceuticals will post -1.83 EPS for the current year.

Hedge Funds Weigh In On Vertex Pharmaceuticals

Several hedge funds have recently made changes to their positions in VRTX. Northwest Investment Counselors LLC bought a new stake in Vertex Pharmaceuticals during the third quarter worth approximately $25,000. Highline Wealth Partners LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter valued at $27,000. Dunhill Financial LLC lifted its position in shares of Vertex Pharmaceuticals by 70.6% during the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after acquiring an additional 24 shares during the last quarter. GHP Investment Advisors Inc. bought a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter worth $29,000. Finally, Stephens Consulting LLC acquired a new position in shares of Vertex Pharmaceuticals in the 2nd quarter worth $31,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Company Profile

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.