Vertex Pharmaceuticals’ (VRTX) “Outperform” Rating Reaffirmed at William Blair

Vertex Pharmaceuticals (NASDAQ:VRTX)‘s stock had its “outperform” rating reaffirmed by stock analysts at William Blair in a research report issued on Monday,RTT News reports.

A number of other equities research analysts have also commented on VRTX. Scotiabank upped their price target on Vertex Pharmaceuticals from $426.00 to $430.00 and gave the company a “sector perform” rating in a research report on Monday, December 23rd. Stifel Nicolaus increased their price objective on shares of Vertex Pharmaceuticals from $490.00 to $494.00 and gave the stock a “hold” rating in a research report on Monday, December 16th. Oppenheimer cut Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Truist Financial decreased their price target on shares of Vertex Pharmaceuticals from $550.00 to $460.00 and set a “buy” rating for the company in a research note on Monday, December 23rd. Finally, Wells Fargo & Company decreased their price objective on Vertex Pharmaceuticals from $555.00 to $460.00 and set an “overweight” rating for the company in a report on Friday, January 10th. Three equities 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $490.38.

Vertex Pharmaceuticals Trading Down 0.4 %

Shares of VRTX stock opened at $411.66 on Monday. 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 firm has a market capitalization of $106.01 billion, a P/E ratio of -206.86 and a beta of 0.40. Vertex Pharmaceuticals has a twelve month low of $377.85 and a twelve month high of $519.88. The stock’s fifty day simple moving average is $445.93 and its 200 day simple moving average is $467.13.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, topping the consensus estimate of $3.61 by $0.77. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The business had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same period last year, the company earned $3.67 EPS. The firm’s revenue was up 11.6% compared to the same quarter last year. As a group, sell-side analysts predict that Vertex Pharmaceuticals will post -1.83 EPS for the current fiscal year.

Institutional Trading of Vertex Pharmaceuticals

A number of institutional investors have recently modified their holdings of the business. Edgewood Management LLC boosted its holdings in shares of Vertex Pharmaceuticals by 7,876.3% in the third quarter. Edgewood Management LLC now owns 1,546,370 shares of the pharmaceutical company’s stock worth $719,186,000 after acquiring an additional 1,526,983 shares during the period. Jennison Associates LLC boosted its stake in Vertex Pharmaceuticals by 18.1% in the 3rd quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company’s stock worth $2,581,373,000 after purchasing an additional 851,054 shares during the period. Wellington Management Group LLP grew its holdings in Vertex Pharmaceuticals by 17.2% during the 3rd quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company’s stock valued at $2,231,858,000 after buying an additional 704,421 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Vertex Pharmaceuticals by 169.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 839,672 shares of the pharmaceutical company’s stock valued at $338,136,000 after buying an additional 528,029 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in shares of Vertex Pharmaceuticals by 74,015.5% in the third quarter. International Assets Investment Management LLC now owns 324,626 shares of the pharmaceutical company’s stock worth $150,977,000 after buying an additional 324,188 shares in the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

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.