Vertex Pharmaceuticals (NASDAQ:VRTX) Raised to “Hold” at Canaccord Genuity Group

Vertex Pharmaceuticals (NASDAQ:VRTX) was upgraded by research analysts at Canaccord Genuity Group from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage currently has a $424.00 target price on the pharmaceutical company’s stock, up from their previous target price of $408.00. Canaccord Genuity Group’s target price suggests a potential downside of 6.44% from the stock’s previous close.

VRTX has been the subject of several other reports. Barclays lifted their price objective on shares of Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Scotiabank increased their price objective on Vertex Pharmaceuticals from $433.00 to $450.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Truist Financial boosted their price target on shares of Vertex Pharmaceuticals from $460.00 to $520.00 and gave the company a “buy” rating in a report on Tuesday. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday. Finally, Bank of America decreased their target price on shares of Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Ten equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $505.96.

Vertex Pharmaceuticals Trading Down 0.4 %

VRTX stock opened at $453.20 on Tuesday. 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 business has a 50 day simple moving average of $435.91 and a two-hundred day simple moving average of $461.85. The company has a market capitalization of $116.71 billion, a price-to-earnings ratio of -227.74, a PEG ratio of 1.80 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 EPS for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. Research analysts anticipate that Vertex Pharmaceuticals will post -1.94 EPS for the current fiscal year.

Insider Activity at Vertex Pharmaceuticals

In other news, EVP Ourania Tatsis sold 310 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $459.83, for a total value of $142,547.30. Following the completion of the sale, the executive vice president now directly owns 64,021 shares in the company, valued at $29,438,776.43. The trade was a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Vertex Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northwest Investment Counselors LLC acquired a new stake in shares of Vertex Pharmaceuticals in the third quarter valued at about $25,000. Highline Wealth Partners LLC acquired a new position in Vertex Pharmaceuticals in the third quarter valued at about $27,000. Dunhill Financial LLC boosted its position in shares of Vertex Pharmaceuticals by 70.6% during the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 24 shares during the period. Brown Lisle Cummings Inc. purchased a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth $30,000. Finally, Legacy Investment Solutions LLC acquired a new position in Vertex Pharmaceuticals in the 3rd quarter valued at about $33,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

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.