Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) had its price target boosted by equities research analysts at Scotiabank from $426.00 to $430.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “sector perform” rating on the pharmaceutical company’s stock. Scotiabank’s target price indicates a potential upside of 8.59% from the company’s previous close.
Other research analysts have also recently issued reports about the stock. Canaccord Genuity Group lifted their price target on shares of Vertex Pharmaceuticals from $361.00 to $408.00 and gave the company a “sell” rating in a research report on Wednesday, November 6th. HC Wainwright lowered their price objective on Vertex Pharmaceuticals from $600.00 to $535.00 and set a “buy” rating for the company in a report on Friday. Barclays reduced their target price on Vertex Pharmaceuticals from $509.00 to $418.00 and set an “equal weight” rating on the stock in a report on Friday. BMO Capital Markets dropped their price target on Vertex Pharmaceuticals from $566.00 to $520.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Stifel Nicolaus lifted their price objective on shares of Vertex Pharmaceuticals from $490.00 to $494.00 and gave the stock a “hold” rating in a report on Monday, December 16th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $494.04.
Read Our Latest Report on Vertex Pharmaceuticals
Vertex Pharmaceuticals Price Performance
Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.61 by $0.77. The company had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.69 billion. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company earned $3.67 EPS. As a group, sell-side analysts predict that Vertex Pharmaceuticals will post -1.83 earnings per share for the current year.
Hedge Funds Weigh In On Vertex Pharmaceuticals
A number of hedge funds and other institutional investors have recently bought and sold shares of VRTX. Whalen Wealth Management Inc. bought a new stake in shares of Vertex Pharmaceuticals in the third quarter valued at about $662,000. Creative Planning boosted its holdings in Vertex Pharmaceuticals by 5.3% in the 2nd quarter. Creative Planning now owns 79,117 shares of the pharmaceutical company’s stock valued at $37,084,000 after purchasing an additional 3,998 shares during the period. Mizuho Securities USA LLC grew its position in shares of Vertex Pharmaceuticals by 289.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 77,393 shares of the pharmaceutical company’s stock worth $35,994,000 after purchasing an additional 57,497 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Vertex Pharmaceuticals during the 2nd quarter worth $21,008,000. Finally, Keynote Financial Services LLC bought a new position in shares of Vertex Pharmaceuticals in the third quarter worth $498,000. Institutional investors own 90.96% of the company’s stock.
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.
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