Brokerages Set Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) PT at $494.04

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) has received an average recommendation of “Moderate Buy” from the thirty-one research firms that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, ten have given a hold recommendation, seventeen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $494.04.

Several research analysts have weighed in on the company. Stifel Nicolaus boosted their price target on Vertex Pharmaceuticals from $490.00 to $494.00 and gave the stock a “hold” rating in a research report on Monday, December 16th. StockNews.com lowered shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 21st. UBS Group increased their price target on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. HC Wainwright lowered their price objective on shares of Vertex Pharmaceuticals from $600.00 to $535.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Finally, Scotiabank raised their target price on shares of Vertex Pharmaceuticals from $426.00 to $430.00 and gave the company a “sector perform” rating in a research note on Monday, December 23rd.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the company. Whalen Wealth Management Inc. bought a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter worth approximately $662,000. Creative Planning lifted its stake in Vertex Pharmaceuticals by 5.3% during the second quarter. Creative Planning now owns 79,117 shares of the pharmaceutical company’s stock worth $37,084,000 after purchasing an additional 3,998 shares during the last quarter. Mizuho Securities USA LLC boosted its holdings 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 valued at $35,994,000 after purchasing an additional 57,497 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter valued at $21,008,000. Finally, Keynote Financial Services LLC bought a new position in shares of Vertex Pharmaceuticals in the 3rd quarter valued at $498,000. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX opened at $407.11 on Wednesday. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals has a 12 month low of $377.85 and a 12 month high of $519.88. The firm has a fifty day simple moving average of $455.37 and a 200 day simple moving average of $470.19. The stock has a market capitalization of $104.84 billion, a price-to-earnings ratio of -204.58 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 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same period in the prior year, the business posted $3.67 EPS. The company’s quarterly revenue was up 11.6% on a year-over-year basis. Research analysts forecast that Vertex Pharmaceuticals will post -1.83 EPS for the current fiscal year.

About Vertex Pharmaceuticals

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.