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

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price target trimmed by HC Wainwright from $600.00 to $535.00 in a research report released on Friday, MarketBeat Ratings reports. The brokerage currently has a buy rating on the pharmaceutical company’s stock.

A number of other brokerages have also recently weighed in on VRTX. Morgan Stanley upped their price objective on Vertex Pharmaceuticals from $473.00 to $476.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Cantor Fitzgerald reissued an “overweight” rating and issued a $480.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, November 5th. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday. JPMorgan Chase & Co. dropped their target price on Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Finally, Scotiabank increased their target price on shares of Vertex Pharmaceuticals from $480.00 to $486.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 5th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $499.77.

Vertex Pharmaceuticals Trading Up 0.2 %

Shares of VRTX opened at $397.27 on Friday. The firm has a market capitalization of $102.31 billion, a price-to-earnings ratio of -199.63 and a beta of 0.36. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20. Vertex Pharmaceuticals has a 1-year low of $377.85 and a 1-year high of $519.88. The company has a 50-day moving average of $470.41 and a 200 day moving average of $475.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results 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. The business had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business earned $3.67 EPS. On average, research analysts expect that Vertex Pharmaceuticals will post -1.83 EPS for the current year.

Institutional Trading of Vertex Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC purchased a new stake in Vertex Pharmaceuticals during the 3rd quarter worth approximately $25,000. Highline Wealth Partners LLC purchased a new stake in Vertex Pharmaceuticals during the 3rd quarter worth about $27,000. Dunhill Financial LLC boosted its stake 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 valued at $27,000 after buying an additional 24 shares during the period. GHP Investment Advisors Inc. acquired a new position in shares of Vertex Pharmaceuticals during the second quarter worth about $29,000. Finally, Stephens Consulting LLC purchased a new stake in shares of Vertex Pharmaceuticals during the second quarter worth approximately $31,000. 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.