Vertex Pharmaceuticals (NASDAQ:VRTX) Given New $430.00 Price Target at Scotiabank

Vertex Pharmaceuticals (NASDAQ:VRTX) had its target price hoisted by Scotiabank from $426.00 to $430.00 in a research report released on Monday morning,Benzinga reports. They currently have a sector perform rating on the pharmaceutical company’s stock.

Other equities research analysts have also issued reports about the company. Morgan Stanley raised their price objective on Vertex Pharmaceuticals from $473.00 to $476.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Raymond James restated a “market perform” rating on shares of Vertex Pharmaceuticals in a report on Thursday, October 10th. BMO Capital Markets dropped their price objective on shares of Vertex Pharmaceuticals from $566.00 to $520.00 and set an “outperform” rating on the stock in a research note on Friday. Royal Bank of Canada lifted their target price on shares of Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating on the stock in a research note on Monday. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $494.04.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX opened at $405.27 on Monday. Vertex Pharmaceuticals has a one year low of $377.85 and a one year high of $519.88. The company has a 50-day moving average of $470.41 and a two-hundred day moving average of $475.25. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20. The stock has a market cap of $104.37 billion, a price-to-earnings ratio of -203.65 and a beta of 0.36.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, topping the consensus estimate of $3.61 by $0.77. The firm had revenue of $2.77 billion for the quarter, compared to analysts’ expectations 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 in the previous year, the company posted $3.67 EPS. On average, equities research analysts expect that Vertex Pharmaceuticals will post -1.83 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of VRTX. Whalen Wealth Management Inc. bought a new stake in shares of Vertex Pharmaceuticals in the third quarter valued at about $662,000. Creative Planning raised its holdings in Vertex Pharmaceuticals by 5.3% in the 2nd quarter. Creative Planning now owns 79,117 shares of the pharmaceutical company’s stock valued at $37,084,000 after acquiring an additional 3,998 shares in the last quarter. Mizuho Securities USA LLC lifted its position in shares of Vertex Pharmaceuticals by 289.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 77,393 shares of the pharmaceutical company’s stock worth $35,994,000 after acquiring an additional 57,497 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter worth approximately $21,008,000. Finally, Keynote Financial Services LLC bought a new stake in shares of Vertex Pharmaceuticals during the third quarter valued at approximately $498,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

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.