Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target Raised to $450.00

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

Several other research firms have also recently weighed in on VRTX. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Tuesday. Piper Sandler lowered their target price on Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating for the company in a report on Monday, January 27th. UBS Group boosted their price target on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Morgan Stanley upped their price target on Vertex Pharmaceuticals from $450.00 to $459.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Finally, Truist Financial decreased their price objective on Vertex Pharmaceuticals from $550.00 to $460.00 and set a “buy” rating for the company in a report on Monday, December 23rd. Ten equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $505.29.

Vertex Pharmaceuticals Price Performance

Shares of VRTX stock opened at $455.22 on Tuesday. The company has a quick ratio of 2.20, a current ratio of 2.47 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 moving average of $435.95 and a 200-day moving average of $462.13. The firm has a market capitalization of $117.23 billion, a price-to-earnings ratio of -228.75, a price-to-earnings-growth ratio of 1.80 and a beta of 0.41.

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 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 earnings per share for the current year.

Institutional Investors Weigh In On Vertex Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. TIAA Trust National Association increased its stake in Vertex Pharmaceuticals by 2.3% during the 4th quarter. TIAA Trust National Association now owns 5,763 shares of the pharmaceutical company’s stock worth $2,321,000 after acquiring an additional 131 shares during the period. Ashton Thomas Securities LLC lifted its position in shares of Vertex Pharmaceuticals by 1.7% during the 4th quarter. Ashton Thomas Securities LLC now owns 3,244 shares of the pharmaceutical company’s stock valued at $1,306,000 after acquiring an additional 55 shares during the period. Princeton Capital Management LLC increased its position in shares of Vertex Pharmaceuticals by 0.4% in the fourth quarter. Princeton Capital Management LLC now owns 15,174 shares of the pharmaceutical company’s stock worth $6,111,000 after purchasing an additional 64 shares during the period. EFG Asset Management North America Corp. raised its stake in Vertex Pharmaceuticals by 49.0% in the fourth quarter. EFG Asset Management North America Corp. now owns 12,055 shares of the pharmaceutical company’s stock valued at $4,856,000 after purchasing an additional 3,964 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Vertex Pharmaceuticals by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 23,258,288 shares of the pharmaceutical company’s stock worth $9,366,113,000 after purchasing an additional 98,654 shares during the period. 90.96% of the stock is currently 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.