Stifel Nicolaus Forecasts Strong Price Appreciation for Vertex Pharmaceuticals (NASDAQ:VRTX) Stock

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price objective hoisted by equities research analysts at Stifel Nicolaus from $490.00 to $494.00 in a report released on Monday,Benzinga reports. The firm presently has a “hold” rating on the pharmaceutical company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 5.28% from the company’s current price.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. cut their price target on Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Royal Bank of Canada increased their price objective on Vertex Pharmaceuticals from $437.00 to $451.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 5th. Canaccord Genuity Group increased their price objective on Vertex Pharmaceuticals from $361.00 to $408.00 and gave the stock a “sell” rating in a research report on Wednesday, November 6th. Raymond James reiterated a “market perform” rating on shares of Vertex Pharmaceuticals in a research report on Thursday, October 10th. Finally, StockNews.com downgraded Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 21st. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $505.73.

Vertex Pharmaceuticals Stock Performance

VRTX stock opened at $469.24 on Monday. The firm has a market cap of $120.84 billion, a PE ratio of -235.80 and a beta of 0.36. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average of $474.10 and a 200-day moving average of $476.57. Vertex Pharmaceuticals has a 12-month low of $391.01 and a 12-month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, beating the consensus estimate of $3.61 by $0.77. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same period in the prior year, the company earned $3.67 earnings per share. Vertex Pharmaceuticals’s revenue was up 11.6% compared to the same quarter last year. As a group, sell-side analysts expect that Vertex Pharmaceuticals will post -1.83 earnings per share for the current year.

Hedge Funds Weigh In On Vertex Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC purchased a new stake in shares of Vertex Pharmaceuticals during the third quarter worth about $25,000. Highline Wealth Partners LLC bought a new stake in shares of Vertex Pharmaceuticals in the third quarter worth about $27,000. Dunhill Financial LLC boosted its stake in 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 buying an additional 24 shares during the last quarter. GHP Investment Advisors Inc. bought a new stake in Vertex Pharmaceuticals in the 2nd quarter worth approximately $29,000. Finally, Stephens Consulting LLC purchased a new position in shares of Vertex Pharmaceuticals in the second quarter valued at $31,000. 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.