Vertex Pharmaceuticals’ (VRTX) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Vertex Pharmaceuticals (NASDAQ:VRTX) in a report released on Friday morning,Benzinga reports.

Several other brokerages also recently commented on VRTX. Stifel Nicolaus boosted their price objective on Vertex Pharmaceuticals from $490.00 to $494.00 and gave the company a “hold” rating in a research report on Monday, December 16th. Royal Bank of Canada boosted their price target on Vertex Pharmaceuticals from $437.00 to $451.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 5th. Raymond James reaffirmed a “market perform” rating on shares of Vertex Pharmaceuticals in a report on Thursday, October 10th. JPMorgan Chase & Co. lowered their target price on shares of Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Finally, Oppenheimer cut shares of Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Thursday. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $499.77.

Vertex Pharmaceuticals Trading Up 0.2 %

Shares of NASDAQ:VRTX opened at $397.27 on Friday. Vertex Pharmaceuticals has a 12-month low of $377.85 and a 12-month high of $519.88. The company has a market cap of $102.31 billion, a PE ratio of -199.63 and a beta of 0.36. The stock has a 50 day moving average of $470.41 and a 200 day moving average of $475.30. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced 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 firm had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.69 billion. During the same period in the prior year, the company posted $3.67 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, equities research analysts expect that Vertex Pharmaceuticals will post -1.83 EPS for the current year.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the business. Northwest Investment Counselors LLC purchased a new position in Vertex Pharmaceuticals during the 3rd quarter valued at $25,000. Highline Wealth Partners LLC bought a new stake in shares of Vertex Pharmaceuticals during the third quarter worth $27,000. Dunhill Financial LLC boosted its stake in shares of Vertex Pharmaceuticals by 70.6% during the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 24 shares during the period. GHP Investment Advisors Inc. purchased a new position in Vertex Pharmaceuticals in the 2nd quarter worth about $29,000. Finally, Stephens Consulting LLC bought a new stake in Vertex Pharmaceuticals during the 2nd quarter valued at about $31,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

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.