Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) have received an average recommendation of “Moderate Buy” from the thirty-one research firms that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, ten have given a hold recommendation, seventeen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $494.04.

VRTX has been the topic of several research reports. JPMorgan Chase & Co. dropped their price target on Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. Cantor Fitzgerald reissued an “overweight” rating and set a $480.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday, November 5th. Scotiabank raised their price target on shares of Vertex Pharmaceuticals from $426.00 to $430.00 and gave the stock a “sector perform” rating in a research report on Monday, December 23rd. Jefferies Financial Group raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and boosted their price objective for the company from $500.00 to $550.00 in a research report on Monday, December 9th. Finally, UBS Group raised their target price on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th.

Vertex Pharmaceuticals Trading Up 1.4 %

NASDAQ VRTX opened at $408.32 on Wednesday. The company’s fifty day moving average price is $452.65 and its two-hundred day moving average price is $469.28. The company has a market capitalization of $105.15 billion, a price-to-earnings ratio of -205.19 and a beta of 0.40. Vertex Pharmaceuticals has a 12 month low of $377.85 and a 12 month high of $519.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, topping analysts’ consensus estimates of $3.61 by $0.77. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same period last year, the firm earned $3.67 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, research analysts predict that Vertex Pharmaceuticals will post -1.83 earnings per share for the current fiscal 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 acquired a new position in Vertex Pharmaceuticals during the third quarter worth about $25,000. Dunhill Financial LLC raised its holdings 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 worth $27,000 after purchasing an additional 24 shares in the last quarter. Highline Wealth Partners LLC acquired a new stake in Vertex Pharmaceuticals during the third quarter valued at approximately $27,000. GHP Investment Advisors Inc. bought a new stake in Vertex Pharmaceuticals during the second quarter worth approximately $29,000. Finally, Legacy Investment Solutions LLC acquired a new position in Vertex Pharmaceuticals in the third quarter worth approximately $33,000. 90.96% of the stock is 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.