Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target Raised to $407.00 at Royal Bank of Canada

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price objective lifted by Royal Bank of Canada from $402.00 to $407.00 in a research note released on Tuesday,Benzinga reports. The firm currently has a sector perform rating on the pharmaceutical company’s stock.

A number of other analysts have also commented on VRTX. Piper Sandler lowered their price objective on Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. Stifel Nicolaus lifted their price target on shares of Vertex Pharmaceuticals from $490.00 to $494.00 and gave the stock a “hold” rating in a research report on Monday, December 16th. Morgan Stanley increased their price objective on shares of Vertex Pharmaceuticals from $450.00 to $459.00 and gave the company an “equal weight” rating in a report on Tuesday. BMO Capital Markets lowered their target price on shares of Vertex Pharmaceuticals from $566.00 to $520.00 and set an “outperform” rating for the company in a report on Friday, December 20th. Finally, Citigroup initiated coverage on Vertex Pharmaceuticals in a research note on Thursday, November 14th. They issued a “buy” rating and a $575.00 price target on the stock. Ten equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $505.29.

Vertex Pharmaceuticals Trading Down 3.1 %

Shares of NASDAQ VRTX opened at $455.22 on Tuesday. Vertex Pharmaceuticals has a 1-year low of $377.85 and a 1-year high of $519.88. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average of $435.95 and a two-hundred day moving average of $462.13. The company has a market cap of $117.23 billion, a PE ratio of -228.75, a P/E/G ratio of 1.80 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data 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 return on equity of 1.91% and a negative net margin of 4.52%. As a group, equities analysts expect that Vertex Pharmaceuticals will post -1.94 earnings per share for the current fiscal year.

Institutional Trading of Vertex Pharmaceuticals

A number of institutional investors have recently modified their holdings of the company. Northwest Investment Counselors LLC acquired a new stake in Vertex Pharmaceuticals in the 3rd quarter valued at approximately $25,000. Highline Wealth Partners LLC bought a new position in shares of Vertex Pharmaceuticals during the 3rd quarter worth approximately $27,000. Dunhill Financial LLC raised its holdings in shares of Vertex Pharmaceuticals by 70.6% in the third 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 last quarter. Brown Lisle Cummings Inc. bought a new stake in shares of Vertex Pharmaceuticals in the fourth quarter worth $30,000. Finally, Legacy Investment Solutions LLC acquired a new position in Vertex Pharmaceuticals during the third quarter worth $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.