Vertex Pharmaceuticals (NASDAQ:VRTX) Given New $450.00 Price Target at Scotiabank

Vertex Pharmaceuticals (NASDAQ:VRTX) had its target price increased by Scotiabank from $433.00 to $450.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a sector perform rating on the pharmaceutical company’s stock.

Several other research analysts have also issued reports on VRTX. Cantor Fitzgerald reissued an “overweight” rating and issued a $480.00 price target on shares of Vertex Pharmaceuticals in a research report on Friday, January 31st. Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a report on Tuesday. StockNews.com lowered Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 21st. Oppenheimer lowered Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Finally, Jefferies Financial Group upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and boosted their target price for the company from $500.00 to $550.00 in a research note on Monday, December 9th. Ten research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $505.29.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX opened at $455.22 on Tuesday. The firm has a market capitalization of $117.23 billion, a PE ratio of -228.75, a PEG ratio of 1.80 and a beta of 0.41. 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 1-year low of $377.85 and a 1-year high of $519.88. The business’s 50 day moving average is $435.95 and its 200-day moving average is $462.13.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly 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 predict that Vertex Pharmaceuticals will post -1.94 earnings per share for the current year.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Several institutional investors have recently modified their holdings of VRTX. Vanguard Group Inc. boosted its stake in Vertex Pharmaceuticals by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 23,258,288 shares of the pharmaceutical company’s stock valued at $9,366,113,000 after acquiring an additional 98,654 shares during the last quarter. State Street Corp lifted its stake in shares of Vertex Pharmaceuticals by 0.8% in the 3rd quarter. State Street Corp now owns 11,816,249 shares of the pharmaceutical company’s stock valued at $5,495,501,000 after purchasing an additional 90,173 shares during the period. Jennison Associates LLC boosted its position in shares of 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 last quarter. Wellington Management Group LLP grew its stake in shares of Vertex Pharmaceuticals by 17.2% during the third quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company’s stock worth $2,231,858,000 after purchasing an additional 704,421 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in Vertex Pharmaceuticals by 5.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,905,705 shares of the pharmaceutical company’s stock valued at $1,351,385,000 after purchasing an additional 159,693 shares during 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.