Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target Cut to $522.00 by Analysts at Bank of America

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price objective decreased by equities research analysts at Bank of America from $545.00 to $522.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the pharmaceutical company’s stock. Bank of America‘s price target indicates a potential upside of 31.40% from the stock’s current price.

Several other analysts have also recently commented on VRTX. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $480.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, November 5th. Morgan Stanley raised their price objective on Vertex Pharmaceuticals from $473.00 to $476.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Royal Bank of Canada upped their target price on Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a “sector perform” rating in a report on Tuesday, November 5th. StockNews.com cut shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 21st. Finally, Canaccord Genuity Group boosted their target price on Vertex Pharmaceuticals from $361.00 to $408.00 and gave the company a “sell” rating in a research note on Wednesday, November 6th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $499.77.

Vertex Pharmaceuticals Stock Up 0.2 %

Shares of Vertex Pharmaceuticals stock opened at $397.27 on Thursday. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals has a 12-month low of $377.85 and a 12-month high of $519.88. The firm has a market capitalization of $102.31 billion, a PE ratio of -199.63 and a beta of 0.36. The stock’s fifty day moving average is $470.41 and its 200-day moving average is $475.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $2.69 billion. During the same quarter in the previous year, the business earned $3.67 earnings per share. The firm’s revenue was up 11.6% compared to the same quarter last year. Equities analysts anticipate that Vertex Pharmaceuticals will post -1.83 earnings per share for the current year.

Institutional Inflows and Outflows

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