Vertex Pharmaceuticals (NASDAQ:VRTX) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Vertex Pharmaceuticals (NASDAQ:VRTX) had its target price boosted by analysts at Morgan Stanley from $450.00 to $459.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the pharmaceutical company’s stock. Morgan Stanley’s price target would suggest a potential downside of 2.33% from the stock’s current price.

A number of other equities analysts have also weighed in on VRTX. Jefferies Financial Group upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and lifted their price objective for the company from $500.00 to $550.00 in a research note on Monday, December 9th. Bank of America reduced their price target on Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. HC Wainwright restated a “buy” rating and issued a $550.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday. Oppenheimer lowered shares of Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Finally, William Blair reissued an “outperform” rating on shares of Vertex Pharmaceuticals in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $501.88.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $469.97 on Tuesday. Vertex Pharmaceuticals has a 52 week low of $377.85 and a 52 week high of $519.88. The business’s 50 day moving average price is $435.87 and its 200 day moving average price is $462.29. 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 firm has a market cap of $121.03 billion, a P/E ratio of -236.17, a P/E/G ratio of 1.80 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 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%. On average, sell-side analysts expect that Vertex Pharmaceuticals will post -1.94 earnings per share for the current year.

Institutional Investors Weigh In On Vertex Pharmaceuticals

A number of hedge funds have recently modified their holdings of the business. State Street Corp raised its holdings in Vertex Pharmaceuticals by 0.8% in the 3rd quarter. State Street Corp now owns 11,816,249 shares of the pharmaceutical company’s stock valued at $5,495,501,000 after acquiring an additional 90,173 shares during the last quarter. Jennison Associates LLC lifted its position in Vertex Pharmaceuticals by 18.1% during the third quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company’s stock worth $2,581,373,000 after buying an additional 851,054 shares in the last quarter. Wellington Management Group LLP boosted its stake in Vertex Pharmaceuticals by 17.2% during the third quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company’s stock worth $2,231,858,000 after buying an additional 704,421 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Vertex Pharmaceuticals by 5.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,905,705 shares of the pharmaceutical company’s stock valued at $1,351,385,000 after buying an additional 159,693 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of Vertex Pharmaceuticals by 4.1% in the 3rd quarter. Janus Henderson Group PLC now owns 2,516,831 shares of the pharmaceutical company’s stock worth $1,170,506,000 after acquiring an additional 100,114 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

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.