Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday, Wall Street Zen reports.
Several other equities research analysts also recently commented on the stock. Leerink Partners assumed coverage on shares of Vertex Pharmaceuticals in a research report on Monday, September 21st. They set an “outperform” rating and a $594.00 target price on the stock. Stifel Nicolaus set a $500.00 target price on shares of Vertex Pharmaceuticals and gave the stock a “hold” rating in a research note on Tuesday, August 4th. Canaccord Genuity Group boosted their target price on Vertex Pharmaceuticals from $436.00 to $442.00 and gave the company a “hold” rating in a research report on Tuesday, August 4th. Royal Bank Of Canada increased their price objective on Vertex Pharmaceuticals from $570.00 to $576.00 and gave the stock an “outperform” rating in a research note on Thursday, October 8th. Finally, Evercore increased their price target on Vertex Pharmaceuticals from $535.00 to $600.00 and gave the company an “outperform” rating in a research report on Wednesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $579.81.
Check Out Our Latest Report on Vertex Pharmaceuticals
Vertex Pharmaceuticals Stock Performance
VRTX opened at $558.88 on Friday. The stock’s fifty day simple moving average is $523.21 and its 200 day simple moving average is $479.47. Vertex Pharmaceuticals has a 1-year low of $403.16 and a 1-year high of $563.80. The stock has a market cap of $141.84 billion, a PE ratio of 32.53, a price-to-earnings-growth ratio of 2.68 and a beta of 0.28.
Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share for the quarter, missing the consensus estimate of $4.74 by ($0.01). Vertex Pharmaceuticals had a return on equity of 23.09% and a net margin of 35.00%. The firm had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.23 billion. During the same quarter in the previous year, the business earned $4.52 EPS. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. Equities analysts forecast that Vertex Pharmaceuticals will post 16.74 earnings per share for the current year.
Hedge Funds Weigh In On Vertex Pharmaceuticals
Hedge funds have recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC grew its position in Vertex Pharmaceuticals by 1.1% in the third quarter. Kestra Private Wealth Services LLC now owns 10,659 shares of the pharmaceutical company’s stock valued at $5,573,000 after acquiring an additional 120 shares in the last quarter. Chicago Partners Investment Group LLC grew its position in shares of Vertex Pharmaceuticals by 5.0% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 2,578 shares of the pharmaceutical company’s stock valued at $1,351,000 after buying an additional 123 shares during the last quarter. Richardson Financial Services Inc. raised its stake in Vertex Pharmaceuticals by 45.2% during the third quarter. Richardson Financial Services Inc. now owns 305 shares of the pharmaceutical company’s stock worth $159,000 after acquiring an additional 95 shares during the period. Ascent Group LLC lifted its holdings in Vertex Pharmaceuticals by 6.3% in the third quarter. Ascent Group LLC now owns 3,936 shares of the pharmaceutical company’s stock worth $2,058,000 after acquiring an additional 235 shares during the last quarter. Finally, Third View Private Wealth LLC grew its holdings in shares of Vertex Pharmaceuticals by 0.8% during the third quarter. Third View Private Wealth LLC now owns 18,009 shares of the pharmaceutical company’s stock valued at $9,415,000 after purchasing an additional 143 shares during the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.
About Vertex Pharmaceuticals
Vertex Pharmaceuticals Incorporated is a global biotechnology company focused on developing and commercializing medicines for serious diseases. Founded in 1989 and headquartered in Boston, Massachusetts, the company applies expertise in the science of human disease to discover therapies that address significant unmet medical needs.
Vertex is best known for its cystic fibrosis portfolio, which includes Kalydeco, Orkambi, Symdeko/Symkevi, and Trikafta/Kaftrio. These medicines target the underlying cause of cystic fibrosis for patients with specific mutations in the CFTR gene.
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