Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target Raised to $494.00

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price objective raised by Stifel Nicolaus from $490.00 to $494.00 in a research note released on Monday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the pharmaceutical company’s stock.

VRTX has been the subject of a number of other reports. JPMorgan Chase & Co. decreased their target price on Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. StockNews.com lowered Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 21st. Scotiabank upped their price objective on shares of Vertex Pharmaceuticals from $480.00 to $486.00 and gave the company a “sector perform” rating in a report on Tuesday, November 5th. Jefferies Financial Group upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and lifted their target price for the stock from $500.00 to $550.00 in a research note on Monday, December 9th. Finally, UBS Group boosted their target price 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 research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $505.73.

Vertex Pharmaceuticals Trading Down 4.6 %

Shares of Vertex Pharmaceuticals stock opened at $447.50 on Monday. The firm has a market cap of $115.24 billion, a PE ratio of -224.87 and a beta of 0.36. Vertex Pharmaceuticals has a 1 year low of $391.01 and a 1 year high of $519.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20. The stock has a fifty day moving average price of $473.69 and a 200-day moving average price of $476.36.

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

Hedge Funds Weigh In On Vertex Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in VRTX. Raymond James Financial Services Advisors Inc. grew its holdings in Vertex Pharmaceuticals by 19.5% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 35,721 shares of the pharmaceutical company’s stock worth $16,743,000 after purchasing an additional 5,824 shares during the period. Commerzbank Aktiengesellschaft FI grew its stake in shares of Vertex Pharmaceuticals by 9.0% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 858 shares of the pharmaceutical company’s stock worth $403,000 after buying an additional 71 shares during the last quarter. Investment House LLC raised its stake in Vertex Pharmaceuticals by 21.3% during the second quarter. Investment House LLC now owns 825 shares of the pharmaceutical company’s stock valued at $387,000 after buying an additional 145 shares during the last quarter. Atria Wealth Solutions Inc. boosted its holdings in Vertex Pharmaceuticals by 1.0% in the second quarter. Atria Wealth Solutions Inc. now owns 10,722 shares of the pharmaceutical company’s stock worth $5,026,000 after acquiring an additional 107 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in shares of Vertex Pharmaceuticals in the second quarter worth $238,000. Institutional investors own 90.96% of the company’s stock.

About Vertex Pharmaceuticals

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.