Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target Cut to $533.00 by Analysts at Piper Sandler

Vertex Pharmaceuticals (NASDAQ:VRTX) had its target price dropped by Piper Sandler from $535.00 to $533.00 in a report released on Monday,Benzinga reports. The firm currently has an “overweight” rating on the pharmaceutical company’s stock. Piper Sandler’s price objective points to a potential upside of 20.95% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Cantor Fitzgerald reissued an “overweight” rating and set a $480.00 price target on shares of Vertex Pharmaceuticals in a research report on Friday, January 24th. BMO Capital Markets dropped their target price on shares of Vertex Pharmaceuticals from $566.00 to $520.00 and set an “outperform” rating on the stock in a report on Friday, December 20th. William Blair restated an “outperform” rating on shares of Vertex Pharmaceuticals in a report on Monday, January 13th. Morgan Stanley increased their price objective on shares of Vertex Pharmaceuticals from $473.00 to $476.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Finally, Scotiabank boosted 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. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $494.76.

Vertex Pharmaceuticals Trading Down 0.7 %

VRTX stock opened at $440.68 on Monday. The company has a market capitalization of $113.49 billion, a PE ratio of -221.45, a P/E/G ratio of 2.20 and a beta of 0.40. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20. Vertex Pharmaceuticals has a 12 month low of $377.85 and a 12 month high of $519.88. The firm’s 50-day moving average is $434.90 and its 200 day moving average is $463.98.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, topping analysts’ consensus estimates of $3.61 by $0.77. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.69 billion. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the company posted $3.67 earnings per share. On average, research analysts anticipate that Vertex Pharmaceuticals will post -1.9 EPS for the current year.

Institutional Investors Weigh In On Vertex Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the company. Northwest Investment Counselors LLC purchased a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter valued at $25,000. Highline Wealth Partners LLC purchased a new stake in Vertex Pharmaceuticals in the third quarter valued at $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 purchasing an additional 24 shares during the period. Brown Lisle Cummings Inc. purchased a new position in shares of Vertex Pharmaceuticals during the 4th quarter valued at about $30,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of Vertex Pharmaceuticals in the 3rd quarter valued at about $33,000. 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.