Vertex Pharmaceuticals (NASDAQ:VRTX) Given New $467.00 Price Target at Barclays

Vertex Pharmaceuticals (NASDAQ:VRTX) had its target price hoisted by equities research analysts at Barclays from $435.00 to $467.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the pharmaceutical company’s stock. Barclays‘s target price would indicate a potential upside of 1.30% from the stock’s previous close.

Other research analysts have also issued reports about the company. Piper Sandler reduced their target price on Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. JPMorgan Chase & Co. dropped their price objective on shares of Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $480.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday. Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a report on Tuesday. Finally, StockNews.com lowered Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $504.63.

Vertex Pharmaceuticals Stock Down 1.9 %

Shares of VRTX traded down $8.97 during mid-day trading on Tuesday, hitting $461.00. The company’s stock had a trading volume of 195,554 shares, compared to its average volume of 1,538,702. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $118.72 billion, a price-to-earnings ratio of -231.54, a PEG ratio of 1.80 and a beta of 0.41. The company’s 50-day moving average is $435.95 and its 200-day moving average is $462.13. Vertex Pharmaceuticals has a 52-week low of $377.85 and a 52-week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 EPS for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. On average, equities research analysts forecast that Vertex Pharmaceuticals will post -1.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sandy Spring Bank lifted its holdings in shares of Vertex Pharmaceuticals by 313.5% in the fourth quarter. Sandy Spring Bank now owns 4,776 shares of the pharmaceutical company’s stock valued at $1,923,000 after purchasing an additional 3,621 shares in the last quarter. Investment House LLC boosted its position in Vertex Pharmaceuticals by 9.9% during the 4th quarter. Investment House LLC now owns 945 shares of the pharmaceutical company’s stock worth $381,000 after acquiring an additional 85 shares during the last quarter. Harvest Fund Management Co. Ltd grew its stake in shares of Vertex Pharmaceuticals by 27.7% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 15,225 shares of the pharmaceutical company’s stock worth $6,080,000 after acquiring an additional 3,307 shares in the last quarter. Vinva Investment Management Ltd grew its position in Vertex Pharmaceuticals by 43.8% in the fourth quarter. Vinva Investment Management Ltd now owns 3,512 shares of the pharmaceutical company’s stock valued at $1,403,000 after purchasing an additional 1,069 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd bought a new stake in Vertex Pharmaceuticals during the fourth quarter worth about $497,000. 90.96% of the stock is 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.