Vertex Pharmaceuticals’ (VRTX) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Vertex Pharmaceuticals (NASDAQ:VRTX) in a research note released on Friday,Benzinga reports. The firm currently has a $480.00 price objective on the pharmaceutical company’s stock.

Several other equities analysts have also recently weighed in on VRTX. Raymond James restated a “market perform” rating on shares of Vertex Pharmaceuticals in a report on Thursday, October 10th. HC Wainwright raised their target price on shares of Vertex Pharmaceuticals from $535.00 to $550.00 and gave the company a “buy” rating in a report on Friday. Jefferies Financial Group raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and upped their price target for the company from $500.00 to $550.00 in a research note on Monday, December 9th. Wells Fargo & Company cut shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 price objective for the company. in a research note on Thursday. Finally, Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday. One analyst has rated the stock with a sell rating, ten have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $502.58.

Vertex Pharmaceuticals Trading Up 5.3 %

Vertex Pharmaceuticals stock opened at $461.68 on Friday. Vertex Pharmaceuticals has a 1 year low of $377.85 and a 1 year high of $519.88. The firm’s 50 day moving average price is $434.34 and its 200-day moving average price is $463.31. 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 (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.61 by $0.77. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same period in the previous year, the firm posted $3.67 EPS. Vertex Pharmaceuticals’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Vertex Pharmaceuticals will post -1.93 earnings per share for the current year.

Institutional Trading of Vertex Pharmaceuticals

A number of hedge funds have recently bought and sold shares of VRTX. Northwest Investment Counselors LLC purchased a new position in shares of Vertex Pharmaceuticals in the 3rd quarter worth approximately $25,000. Dunhill Financial LLC grew its holdings in Vertex Pharmaceuticals by 70.6% in the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 24 shares during the last quarter. Highline Wealth Partners LLC acquired a new position in shares of Vertex Pharmaceuticals during the third quarter worth $27,000. Legacy Investment Solutions LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter valued at $33,000. Finally, Brown Lisle Cummings Inc. acquired a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth $30,000. Hedge funds and other 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.