Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target Lowered to $535.00 at HC Wainwright

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price target decreased by HC Wainwright from $600.00 to $535.00 in a report issued on Friday, Marketbeat.com reports. HC Wainwright currently has a buy rating on the pharmaceutical company’s stock.

Other analysts have also recently issued research reports about the company. StockNews.com cut Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 21st. Scotiabank lifted their price target on Vertex Pharmaceuticals from $480.00 to $486.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 5th. Royal Bank of Canada increased their price objective on Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a “sector perform” rating in a report on Tuesday, November 5th. Citigroup initiated coverage on shares of Vertex Pharmaceuticals in a report on Thursday, November 14th. They issued a “buy” rating and a $575.00 target price on the stock. Finally, Raymond James reiterated a “market perform” rating on shares of Vertex Pharmaceuticals in a research note on Thursday, October 10th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $499.77.

Vertex Pharmaceuticals Trading Up 0.2 %

VRTX opened at $397.27 on Friday. The business’s 50-day simple moving average is $470.41 and its 200-day simple moving average is $475.30. The company has a market cap of $102.31 billion, a P/E ratio of -199.63 and a beta of 0.36. Vertex Pharmaceuticals has a one year low of $377.85 and a one year high of $519.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, topping the consensus estimate of $3.61 by $0.77. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter in the previous year, the firm earned $3.67 EPS. The company’s revenue was up 11.6% compared to the same quarter last year. As a group, equities research analysts expect that Vertex Pharmaceuticals will post -1.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Vertex Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the stock. Northwest Investment Counselors LLC purchased a new stake in Vertex Pharmaceuticals during the third quarter worth about $25,000. Highline Wealth Partners LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter worth approximately $27,000. Dunhill Financial LLC grew 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 acquiring an additional 24 shares during the period. GHP Investment Advisors Inc. purchased a new position in Vertex Pharmaceuticals in the 2nd quarter valued at approximately $29,000. Finally, Stephens Consulting LLC acquired a new position in Vertex Pharmaceuticals during the second quarter worth $31,000. 90.96% of the stock is owned by institutional investors and hedge funds.

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.