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

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price target increased by equities research analysts at Scotiabank from $426.00 to $430.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “sector perform” rating on the pharmaceutical company’s stock. Scotiabank’s target price suggests a potential upside of 8.59% from the company’s current price.

Several other analysts have also weighed in on VRTX. BMO Capital Markets lowered their price objective on shares of Vertex Pharmaceuticals from $566.00 to $520.00 and set an “outperform” rating for the company in a research note on Friday. Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday. Oppenheimer cut Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Thursday. Truist Financial dropped their price objective on Vertex Pharmaceuticals from $550.00 to $460.00 and set a “buy” rating on the stock in a research note on Monday. Finally, StockNews.com lowered shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 21st. 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 issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $494.04.

Vertex Pharmaceuticals Trading Down 0.3 %

NASDAQ:VRTX traded down $1.29 during mid-day trading on Monday, hitting $395.98. 322,606 shares of the company’s stock were exchanged, compared to its average volume of 1,234,881. Vertex Pharmaceuticals has a fifty-two week low of $377.85 and a fifty-two week 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 firm has a market capitalization of $101.98 billion, a P/E ratio of -198.98 and a beta of 0.36. The company has a 50 day simple moving average of $470.41 and a 200-day simple moving average of $475.30.

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

Hedge Funds Weigh In On Vertex Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in VRTX. Whalen Wealth Management Inc. bought a new stake in shares of Vertex Pharmaceuticals in the third quarter worth approximately $662,000. Creative Planning grew its holdings in shares of Vertex Pharmaceuticals by 5.3% in the second quarter. Creative Planning now owns 79,117 shares of the pharmaceutical company’s stock worth $37,084,000 after acquiring an additional 3,998 shares during the period. Mizuho Securities USA LLC lifted its holdings in Vertex Pharmaceuticals by 289.0% in the third quarter. Mizuho Securities USA LLC now owns 77,393 shares of the pharmaceutical company’s stock valued at $35,994,000 after acquiring an additional 57,497 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter valued at about $21,008,000. Finally, Keynote Financial Services LLC bought a new stake in Vertex Pharmaceuticals during the third quarter valued at approximately $498,000. Institutional investors own 90.96% of the company’s stock.

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.