Vertex Pharmaceuticals (NASDAQ:VRTX) Lowered to “Equal Weight” Rating by Wells Fargo & Company

Wells Fargo & Company downgraded shares of Vertex Pharmaceuticals (NASDAQ:VRTX) from an overweight rating to an equal weight rating in a research report sent to investors on Thursday, Marketbeat Ratings reports. Wells Fargo & Company currently has $460.00 target price on the pharmaceutical company’s stock.

Several other analysts have also commented on VRTX. HC Wainwright dropped their price target on shares of Vertex Pharmaceuticals from $600.00 to $535.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday, December 20th. Scotiabank increased their price target on Vertex Pharmaceuticals from $426.00 to $430.00 and gave the stock a “sector perform” rating in a research report on Monday, December 23rd. Stifel Nicolaus boosted their price objective on Vertex Pharmaceuticals from $490.00 to $494.00 and gave the company a “hold” rating in a research report on Monday, December 16th. Finally, Barclays dropped their price target on shares of Vertex Pharmaceuticals from $509.00 to $418.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $494.76.

Vertex Pharmaceuticals Price Performance

Shares of VRTX opened at $438.40 on Thursday. The business’s 50-day moving average is $434.56 and its two-hundred day moving average is $463.49. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals has a fifty-two week low of $377.85 and a fifty-two week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (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 company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same period in the previous year, the company posted $3.67 earnings per share. Vertex Pharmaceuticals’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, sell-side analysts forecast that Vertex Pharmaceuticals will post -1.93 EPS for the current fiscal year.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Northwest Investment Counselors LLC purchased a new position in shares of Vertex Pharmaceuticals during the 3rd quarter worth $25,000. Dunhill Financial LLC boosted its stake in 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 period. Highline Wealth Partners LLC acquired a new stake in shares of Vertex Pharmaceuticals during the third quarter valued at about $27,000. Legacy Investment Solutions LLC acquired a new stake in shares of Vertex Pharmaceuticals during the third quarter valued at about $33,000. Finally, Brown Lisle Cummings Inc. purchased a new stake in shares of Vertex Pharmaceuticals in the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds 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.