Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target Raised to $494.00 at Stifel Nicolaus

Vertex Pharmaceuticals (NASDAQ:VRTX) had its target price boosted by Stifel Nicolaus from $490.00 to $494.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has a hold rating on the pharmaceutical company’s stock.

VRTX has been the subject of a number of other reports. UBS Group upped their price target on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Royal Bank of Canada increased their target price on Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $480.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday, November 5th. Citigroup initiated coverage on Vertex Pharmaceuticals in a report on Thursday, November 14th. They set a “buy” rating and a $575.00 price target for the company. Finally, StockNews.com downgraded shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 21st. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $505.73.

Vertex Pharmaceuticals Stock Performance

VRTX opened at $468.09 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47. The company has a market cap of $120.55 billion, a PE ratio of -235.22 and a beta of 0.36. The stock has a 50-day moving average of $473.89 and a 200-day moving average of $476.47. Vertex Pharmaceuticals has a 52-week low of $391.01 and a 52-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 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter last year, the company posted $3.67 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, equities research analysts forecast that Vertex Pharmaceuticals will post -1.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vertex Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Northwest Investment Counselors LLC bought a new position in shares of Vertex Pharmaceuticals in the third quarter valued at about $25,000. Highline Wealth Partners LLC bought a new position in shares of Vertex Pharmaceuticals in the third quarter worth about $27,000. Dunhill Financial LLC lifted its position in shares of 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 purchasing an additional 24 shares in the last quarter. GHP Investment Advisors Inc. bought a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at approximately $29,000. Finally, Stephens Consulting LLC bought a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at approximately $31,000. 90.96% of the stock is owned by institutional investors and hedge funds.

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.