Vertex Pharmaceuticals (NASDAQ:VRTX) Reaches New 1-Year Low – Here’s Why

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)’s share price hit a new 52-week low on Thursday . The stock traded as low as $377.85 and last traded at $396.87, with a volume of 2044282 shares trading hands. The stock had previously closed at $447.50.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Stifel Nicolaus boosted their price objective on Vertex Pharmaceuticals from $490.00 to $494.00 and gave the company a “hold” rating in a research report on Monday. HC Wainwright restated a “buy” rating and issued a $600.00 target price on shares of Vertex Pharmaceuticals in a report on Monday, October 21st. Cantor Fitzgerald reiterated an “overweight” rating and set a $480.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, November 5th. Morgan Stanley upped their price objective on shares of Vertex Pharmaceuticals from $473.00 to $476.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Finally, Jefferies Financial Group upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and boosted their target price for the company from $500.00 to $550.00 in a report on Monday, December 9th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $505.73.

Vertex Pharmaceuticals Stock Performance

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 stock’s 50 day moving average price is $473.69 and its two-hundred day moving average price is $476.36. The firm has a market capitalization of $99.91 billion, a price-to-earnings ratio of -194.94 and a beta of 0.36.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, topping the consensus estimate of $3.61 by $0.77. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.67 EPS. On average, analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.83 EPS 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 VRTX. Northwest Investment Counselors LLC purchased a new position in Vertex Pharmaceuticals during the third quarter worth approximately $25,000. Dunhill Financial LLC grew its holdings in Vertex Pharmaceuticals by 70.6% during the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 24 shares in the last quarter. Highline Wealth Partners LLC bought a new stake in shares of Vertex Pharmaceuticals in the third quarter worth $27,000. GHP Investment Advisors Inc. bought a new position in Vertex Pharmaceuticals during the 2nd quarter valued at $29,000. Finally, Legacy Investment Solutions LLC acquired a new position in Vertex Pharmaceuticals during the 3rd quarter worth $33,000. 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.