Vertex Pharmaceuticals (NASDAQ:VRTX) Upgraded at Scotiabank

Vertex Pharmaceuticals (NASDAQ:VRTX) was upgraded by stock analysts at Scotiabank to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

Several other analysts also recently issued reports on the company. Wall Street Zen downgraded Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 22nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a research report on Wednesday, October 8th. Leerink Partnrs raised Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 25th. Canaccord Genuity Group decreased their price target on shares of Vertex Pharmaceuticals from $424.00 to $411.00 and set a “hold” rating for the company in a research note on Wednesday, August 6th. Finally, Truist Financial set a $490.00 price objective on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $491.95.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock opened at $434.52 on Wednesday. Vertex Pharmaceuticals has a 52 week low of $362.50 and a 52 week high of $519.68. The company’s 50 day moving average price is $407.22 and its two-hundred day moving average price is $428.25. The company has a market capitalization of $110.25 billion, a P/E ratio of 31.06 and a beta of 0.36.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share for the quarter, beating the consensus estimate of $4.58 by $0.22. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same quarter in the prior year, the company earned $4.38 earnings per share. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Analysts forecast that Vertex Pharmaceuticals will post 15.63 earnings per share for the current year.

Institutional Trading of Vertex Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Vertex Pharmaceuticals by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 24,216,865 shares of the pharmaceutical company’s stock valued at $9,484,293,000 after purchasing an additional 243,088 shares during the period. Capital Research Global Investors increased its position in Vertex Pharmaceuticals by 2.8% during the third quarter. Capital Research Global Investors now owns 16,553,281 shares of the pharmaceutical company’s stock worth $6,482,978,000 after buying an additional 444,990 shares during the last quarter. Jennison Associates LLC raised its stake in Vertex Pharmaceuticals by 21.5% in the second quarter. Jennison Associates LLC now owns 6,151,505 shares of the pharmaceutical company’s stock valued at $2,738,650,000 after buying an additional 1,089,063 shares during the period. Geode Capital Management LLC lifted its position in shares of Vertex Pharmaceuticals by 2.9% in the second quarter. Geode Capital Management LLC now owns 5,928,747 shares of the pharmaceutical company’s stock valued at $2,627,135,000 after buying an additional 166,987 shares during the last quarter. Finally, Capital International Investors boosted its stake in shares of Vertex Pharmaceuticals by 77.9% during the 3rd quarter. Capital International Investors now owns 4,689,059 shares of the pharmaceutical company’s stock worth $1,836,550,000 after acquiring an additional 2,053,156 shares during the period. 90.96% of the stock is owned by institutional investors.

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.