Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Receives Average Rating of “Moderate Buy” from Analysts

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) has been given an average recommendation of “Moderate Buy” by the thirty-one analysts that are presently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation, seventeen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $494.04.

A number of research analysts have recently weighed in on the company. Citigroup assumed coverage on Vertex Pharmaceuticals in a research note on Thursday, November 14th. They issued a “buy” rating and a $575.00 price target on the stock. StockNews.com cut Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 21st. BMO Capital Markets lowered their price target on Vertex Pharmaceuticals from $566.00 to $520.00 and set an “outperform” rating for the company in a research note on Friday, December 20th. Jefferies Financial Group raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $500.00 to $550.00 in a research note on Monday, December 9th. Finally, HC Wainwright cut their target price on shares of Vertex Pharmaceuticals from $600.00 to $535.00 and set a “buy” rating on the stock in a report on Friday, December 20th.

Vertex Pharmaceuticals Price Performance

Shares of VRTX stock opened at $402.70 on Wednesday. The firm has a market cap of $103.71 billion, a price-to-earnings ratio of -202.36 and a beta of 0.36. Vertex Pharmaceuticals has a 12 month low of $377.85 and a 12 month high of $519.88. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average price of $459.45 and a 200 day moving average price of $471.55.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, topping the consensus estimate of $3.61 by $0.77. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The company had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.69 billion. During the same quarter in the previous year, the company earned $3.67 EPS. Vertex Pharmaceuticals’s revenue was up 11.6% on a year-over-year basis. Research analysts expect that Vertex Pharmaceuticals will post -1.83 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Northwest Investment Counselors LLC acquired a new position in shares of Vertex Pharmaceuticals during the 3rd quarter worth about $25,000. Highline Wealth Partners LLC acquired a new position in Vertex Pharmaceuticals during the third quarter worth approximately $27,000. Dunhill Financial LLC raised its stake in Vertex Pharmaceuticals by 70.6% in the third 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 stake in shares of Vertex Pharmaceuticals in the second quarter valued at approximately $29,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of Vertex Pharmaceuticals during the 3rd quarter worth approximately $33,000. 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.