Barclays Lowers Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target to $418.00

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price objective dropped by stock analysts at Barclays from $509.00 to $418.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the pharmaceutical company’s stock. Barclays‘s target price points to a potential upside of 5.22% from the stock’s current price.

Several other equities analysts have also commented on VRTX. Canaccord Genuity Group increased their price objective on shares of Vertex Pharmaceuticals from $361.00 to $408.00 and gave the company a “sell” rating in a research report on Wednesday, November 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $480.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, November 5th. Royal Bank of Canada lifted their price objective on shares of Vertex Pharmaceuticals from $437.00 to $451.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 5th. Raymond James reissued a “market perform” rating on shares of Vertex Pharmaceuticals in a research report on Thursday, October 10th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $499.77.

Vertex Pharmaceuticals Price Performance

NASDAQ VRTX opened at $397.27 on Friday. The firm’s fifty day simple moving average is $470.41 and its two-hundred day simple moving average is $475.30. The firm has a market capitalization of $102.31 billion, a P/E ratio of -199.63 and a beta of 0.36. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals has a 12-month low of $377.85 and a 12-month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, topping 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 firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same period in the previous year, the business earned $3.67 EPS. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. Analysts forecast that Vertex Pharmaceuticals will post -1.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Vertex Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of VRTX. Northwest Investment Counselors LLC acquired a new stake in Vertex Pharmaceuticals in the third quarter valued at approximately $25,000. Dunhill Financial LLC lifted 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 valued at $27,000 after buying an additional 24 shares in the last quarter. Highline Wealth Partners LLC acquired a new stake in Vertex Pharmaceuticals in the 3rd quarter valued at $27,000. GHP Investment Advisors Inc. purchased a new stake in Vertex Pharmaceuticals in the 2nd quarter worth $29,000. Finally, Legacy Investment Solutions LLC acquired a new position in Vertex Pharmaceuticals during the third quarter worth $33,000. Hedge funds and other institutional investors 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.