Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Receives $494.84 Consensus PT from Brokerages

Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) have received an average rating of “Moderate Buy” from the thirty brokerages that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $494.76.

VRTX has been the topic of several research analyst reports. 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 target price on Vertex Pharmaceuticals from $600.00 to $535.00 and set a “buy” rating for the company in a report on Friday, December 20th. Scotiabank lifted their price target on Vertex Pharmaceuticals from $426.00 to $430.00 and gave the stock a “sector perform” rating in a research report on Monday, December 23rd. Oppenheimer lowered shares of Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. Finally, Barclays reduced their price target on shares of Vertex Pharmaceuticals from $509.00 to $418.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th.

Vertex Pharmaceuticals Stock Down 0.7 %

Shares of NASDAQ VRTX opened at $440.68 on Friday. The stock has a market cap of $113.49 billion, a P/E ratio of -221.45, a PEG ratio of 2.20 and a beta of 0.40. The business’s fifty day simple moving average is $434.90 and its 200-day simple moving average is $463.98. Vertex Pharmaceuticals has a 12-month low of $377.85 and a 12-month high of $519.88. 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 results 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. The company had revenue of $2.77 billion during 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%. Vertex Pharmaceuticals’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the previous year, the business earned $3.67 EPS. As a group, equities analysts predict that Vertex Pharmaceuticals will post -1.9 EPS for the current fiscal year.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Several hedge funds have recently modified their holdings of VRTX. Mutual Advisors LLC lifted its stake in shares of Vertex Pharmaceuticals by 0.6% in the third 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 increased its holdings 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 buying an additional 22 shares during the last quarter. Grove Bank & Trust raised its stake in Vertex Pharmaceuticals by 5.7% during the third quarter. Grove Bank & Trust now owns 410 shares of the pharmaceutical company’s stock valued at $191,000 after buying an additional 22 shares in the last quarter. Outlook Wealth Advisors LLC lifted its holdings 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 grew its position in shares of Vertex Pharmaceuticals by 70.6% in 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 in the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

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.