Truist Financial Has Lowered Expectations for Vertex Pharmaceuticals (NASDAQ:VRTX) Stock Price

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price target dropped by research analysts at Truist Financial from $550.00 to $460.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the pharmaceutical company’s stock. Truist Financial’s price objective would suggest a potential upside of 12.70% from the company’s previous close.

A number of other equities research analysts have also weighed in on VRTX. Raymond James reiterated a “market perform” rating on shares of Vertex Pharmaceuticals in a report on Thursday, October 10th. Royal Bank of Canada lifted their price target 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. Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday, December 20th. Scotiabank lifted their target price on Vertex Pharmaceuticals from $480.00 to $486.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 5th. 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, ten have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $494.04.

Vertex Pharmaceuticals Stock Up 0.7 %

Shares of NASDAQ:VRTX opened at $408.18 on Monday. 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 business has a 50 day simple moving average of $468.82 and a two-hundred day simple moving average of $474.68. Vertex Pharmaceuticals has a 1 year low of $377.85 and a 1 year high of $519.88. The firm has a market capitalization of $105.12 billion, a PE ratio of -205.12 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 (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.69 billion. During the same quarter in the previous year, the business earned $3.67 EPS. Vertex Pharmaceuticals’s revenue was up 11.6% compared to the same quarter last year. On average, equities analysts predict that Vertex Pharmaceuticals will post -1.83 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 VRTX. Mutual Advisors LLC lifted its position in Vertex Pharmaceuticals by 0.6% during the third quarter. Mutual Advisors LLC now owns 3,710 shares of the pharmaceutical company’s stock valued at $1,751,000 after purchasing an additional 21 shares during the period. Drive Wealth Management LLC lifted its holdings in shares of Vertex Pharmaceuticals by 2.0% in the 2nd quarter. Drive Wealth Management LLC now owns 1,101 shares of the pharmaceutical company’s stock valued at $516,000 after buying an additional 22 shares during the period. Daymark Wealth Partners LLC grew its holdings in Vertex Pharmaceuticals by 2.8% during the third quarter. Daymark Wealth Partners LLC now owns 804 shares of the pharmaceutical company’s stock worth $374,000 after acquiring an additional 22 shares during the period. Grove Bank & Trust raised its position 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 acquiring an additional 22 shares in the last quarter. Finally, One Wealth Management Investment & Advisory Services LLC increased its holdings in shares of Vertex Pharmaceuticals by 3.3% during the 2nd quarter. One Wealth Management Investment & Advisory Services LLC now owns 747 shares of the pharmaceutical company’s stock valued at $350,000 after purchasing an additional 24 shares in the last quarter. 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.