Vertex Pharmaceuticals (NASDAQ:VRTX) Upgraded by Canaccord Genuity Group to Hold Rating

Vertex Pharmaceuticals (NASDAQ:VRTX) was upgraded by investment analysts at Canaccord Genuity Group from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday,Briefing.com Automated Import reports.

VRTX has been the topic of several other reports. Wells Fargo & Company cut Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 price target on the stock. in a research report on Thursday, January 30th. William Blair restated an “outperform” rating on shares of Vertex Pharmaceuticals in a report on Friday, January 31st. UBS Group lifted their target price on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. HC Wainwright restated a “buy” rating and issued a $550.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday. Finally, Piper Sandler decreased their target price on Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. Ten research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $505.29.

Vertex Pharmaceuticals Stock Performance

Vertex Pharmaceuticals stock traded down $11.50 during mid-day trading on Tuesday, hitting $458.47. 905,706 shares of the company’s stock traded hands, compared to its average volume of 1,567,896. The firm has a 50 day moving average price of $435.95 and a 200 day moving average price of $462.13. 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 company has a market cap of $118.07 billion, a PE ratio of -230.31, a price-to-earnings-growth ratio of 1.80 and a beta of 0.41. Vertex Pharmaceuticals has a one year low of $377.85 and a one year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share 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%. On average, equities analysts forecast that Vertex Pharmaceuticals will post -1.94 EPS for the current year.

Hedge Funds Weigh In On Vertex Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new position in Vertex Pharmaceuticals during the third quarter valued at about $25,000. Highline Wealth Partners LLC bought a new position in Vertex Pharmaceuticals during the third quarter valued at about $27,000. Dunhill Financial LLC grew its stake in shares of Vertex Pharmaceuticals by 70.6% in the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 24 shares during the period. Brown Lisle Cummings Inc. bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter valued at approximately $30,000. Finally, Legacy Investment Solutions LLC bought a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter valued at approximately $33,000. 90.96% of the stock is currently owned by 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.