Vertex Pharmaceuticals (NASDAQ:VRTX) Receives “Hold” Rating from Needham & Company LLC

Vertex Pharmaceuticals (NASDAQ:VRTX)‘s stock had its “hold” rating restated by research analysts at Needham & Company LLC in a research report issued to clients and investors on Tuesday,Benzinga reports.

A number of other equities analysts have also recently commented on the company. StockNews.com cut Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 21st. Wells Fargo & Company lowered shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 price objective on the stock. in a research report on Thursday, January 30th. Oppenheimer lowered Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. BMO Capital Markets reduced their price target on Vertex Pharmaceuticals from $566.00 to $520.00 and set an “outperform” rating on the stock in a report on Friday, December 20th. Finally, Scotiabank boosted their price objective on Vertex Pharmaceuticals from $430.00 to $433.00 and gave the company a “sector perform” rating in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $501.88.

Vertex Pharmaceuticals Price Performance

Vertex Pharmaceuticals stock opened at $469.97 on Tuesday. Vertex Pharmaceuticals has a 52-week low of $377.85 and a 52-week high of $519.88. 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’s fifty day moving average is $435.87 and its 200 day moving average is $462.29. The company has a market cap of $121.03 billion, a price-to-earnings ratio of -236.17, a PEG ratio of 1.80 and a beta of 0.41.

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

Institutional Investors Weigh In On Vertex Pharmaceuticals

A number of hedge funds have recently made changes to their positions in VRTX. Northwest Investment Counselors LLC bought a new position in Vertex Pharmaceuticals in the third quarter worth about $25,000. Highline Wealth Partners LLC purchased a new position in shares of Vertex Pharmaceuticals in the 3rd quarter worth approximately $27,000. Dunhill Financial LLC raised its stake in shares of Vertex Pharmaceuticals by 70.6% during the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after acquiring an additional 24 shares in the last quarter. Brown Lisle Cummings Inc. purchased a new stake in Vertex Pharmaceuticals during the fourth quarter valued at approximately $30,000. Finally, Legacy Investment Solutions LLC acquired a new stake in Vertex Pharmaceuticals in the third quarter valued at approximately $33,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

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.