HC Wainwright Reiterates Buy Rating for Vertex Pharmaceuticals (NASDAQ:VRTX)

Vertex Pharmaceuticals (NASDAQ:VRTX)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a report issued on Tuesday,Benzinga reports. They currently have a $550.00 price target on the pharmaceutical company’s stock. HC Wainwright’s price target points to a potential upside of 17.03% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Bank of America decreased their price objective on shares of Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Stifel Nicolaus raised their target price on Vertex Pharmaceuticals from $490.00 to $494.00 and gave the stock a “hold” rating in a research report on Monday, December 16th. Scotiabank lifted their target price on Vertex Pharmaceuticals from $430.00 to $433.00 and gave the company a “sector perform” rating in a research note on Friday, January 31st. Morgan Stanley increased their price target on shares of Vertex Pharmaceuticals from $473.00 to $476.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Finally, Piper Sandler lowered their price objective on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $501.88.

Vertex Pharmaceuticals Stock Performance

VRTX opened at $469.97 on Tuesday. Vertex Pharmaceuticals has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The firm has a market cap of $121.03 billion, a PE ratio of -236.17, a P/E/G ratio of 1.80 and a beta of 0.41. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $435.87 and a 200-day simple moving average of $462.29.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) 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 predict that Vertex Pharmaceuticals will post -1.94 EPS for the current fiscal year.

Institutional Investors Weigh In On Vertex Pharmaceuticals

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