Vertex Pharmaceuticals (NASDAQ:VRTX) Receives “Hold” Rating from Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Vertex Pharmaceuticals (NASDAQ:VRTX) in a research note published on Tuesday,Benzinga reports.

Several other research analysts also recently commented on VRTX. BMO Capital Markets reduced their price objective on Vertex Pharmaceuticals from $566.00 to $520.00 and set an “outperform” rating on the stock in a report on Friday, December 20th. UBS Group lifted their price objective on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. William Blair reiterated an “outperform” rating on shares of Vertex Pharmaceuticals in a report on Friday, January 31st. HC Wainwright reissued a “buy” rating and set a $550.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday. Finally, Oppenheimer cut shares of Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. Ten research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $505.29.

Vertex Pharmaceuticals Stock Down 3.1 %

NASDAQ:VRTX opened at $455.22 on Tuesday. The company has a market cap of $117.23 billion, a price-to-earnings ratio of -228.75, a price-to-earnings-growth ratio of 1.80 and a beta of 0.41. Vertex Pharmaceuticals has a twelve month low of $377.85 and a twelve month 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 stock has a fifty day simple moving average of $435.95 and a 200-day simple moving average of $462.13.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released 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 net margin of 4.52% and a negative return on equity of 1.91%. Analysts anticipate that Vertex Pharmaceuticals will post -1.94 EPS for the current year.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Large investors have recently bought and sold shares of the company. Northwest Investment Counselors LLC acquired a new stake in Vertex Pharmaceuticals during the 3rd quarter valued at approximately $25,000. Highline Wealth Partners LLC purchased a new stake in Vertex Pharmaceuticals in the third quarter valued at $27,000. Dunhill Financial LLC grew its position in Vertex Pharmaceuticals by 70.6% during 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 during the period. Brown Lisle Cummings Inc. purchased a new position in shares of Vertex Pharmaceuticals during the 4th quarter valued at about $30,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of Vertex Pharmaceuticals in the 3rd quarter valued at about $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.