Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) had its price objective cut by Wells Fargo & Company from $555.00 to $460.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the pharmaceutical company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 12.32% from the stock’s current price.
Several other brokerages also recently weighed in on VRTX. Cantor Fitzgerald reiterated an “overweight” rating and issued a $480.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, November 5th. Scotiabank increased their price objective on shares of Vertex Pharmaceuticals from $426.00 to $430.00 and gave the stock a “sector perform” rating in a research note on Monday, December 23rd. Oppenheimer downgraded shares of Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. Citigroup assumed coverage on Vertex Pharmaceuticals in a research report on Thursday, November 14th. They set a “buy” rating and a $575.00 price target on the stock. Finally, Stifel Nicolaus boosted their price objective on Vertex Pharmaceuticals from $490.00 to $494.00 and gave the company a “hold” rating in a report on Monday, December 16th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $490.38.
Check Out Our Latest Stock Report on Vertex Pharmaceuticals
Vertex Pharmaceuticals Trading Down 0.6 %
Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last released its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.61 by $0.77. The firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The firm’s revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.67 EPS. Analysts predict that Vertex Pharmaceuticals will post -1.83 EPS for the current year.
Hedge Funds Weigh In On Vertex Pharmaceuticals
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mutual Advisors LLC boosted its position in shares of Vertex Pharmaceuticals by 0.6% during the 3rd quarter. Mutual Advisors LLC now owns 3,710 shares of the pharmaceutical company’s stock worth $1,751,000 after acquiring an additional 21 shares in the last quarter. Daymark Wealth Partners LLC boosted its stake in Vertex Pharmaceuticals by 2.8% in the third quarter. Daymark Wealth Partners LLC now owns 804 shares of the pharmaceutical company’s stock valued at $374,000 after acquiring an additional 22 shares in the last quarter. Grove Bank & Trust grew its holdings in shares of Vertex Pharmaceuticals by 5.7% during the third quarter. Grove Bank & Trust now owns 410 shares of the pharmaceutical company’s stock worth $191,000 after purchasing an additional 22 shares during the last quarter. Outlook Wealth Advisors LLC grew its stake in Vertex Pharmaceuticals by 2.8% during the 3rd quarter. Outlook Wealth Advisors LLC now owns 892 shares of the pharmaceutical company’s stock worth $415,000 after buying an additional 24 shares during the last quarter. Finally, Dunhill Financial LLC boosted its holdings in shares of Vertex Pharmaceuticals by 70.6% in the third 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 period. Hedge funds and other institutional investors 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.
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