Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target Cut to $460.00 by Analysts at Truist Financial

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price target trimmed by Truist Financial from $550.00 to $460.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has a buy rating on the pharmaceutical company’s stock.

A number of other analysts have also recently issued reports on the company. Stifel Nicolaus increased their price objective on Vertex Pharmaceuticals from $490.00 to $494.00 and gave the stock a “hold” rating in a report on Monday, December 16th. BMO Capital Markets cut their target price on shares of Vertex Pharmaceuticals from $566.00 to $520.00 and set an “outperform” rating for the company in a research report on Friday. Morgan Stanley raised their price target on Vertex Pharmaceuticals from $473.00 to $476.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Canaccord Genuity Group upped their target price on Vertex Pharmaceuticals from $361.00 to $408.00 and gave the stock a “sell” rating in a research note on Wednesday, November 6th. Finally, Scotiabank increased their price target on shares of Vertex Pharmaceuticals from $480.00 to $486.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 5th. Three analysts have rated the stock with a sell rating, ten have assigned 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $494.04.

Vertex Pharmaceuticals Trading Up 2.0 %

NASDAQ VRTX opened at $405.27 on Monday. The stock has a market capitalization of $104.37 billion, a price-to-earnings ratio of -203.65 and a beta of 0.36. 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 one year low of $377.85 and a one year high of $519.88. The business’s fifty day moving average is $470.41 and its 200-day moving average is $475.25.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Atomi Financial Group Inc. raised its position in Vertex Pharmaceuticals by 23.6% in the 2nd quarter. Atomi Financial Group Inc. now owns 1,090 shares of the pharmaceutical company’s stock worth $511,000 after buying an additional 208 shares during the last quarter. Checchi Capital Advisers LLC increased its holdings in Vertex Pharmaceuticals by 7.0% during the second quarter. Checchi Capital Advisers LLC now owns 1,805 shares of the pharmaceutical company’s stock valued at $846,000 after buying an additional 118 shares during the last quarter. Conning Inc. raised its holdings in Vertex Pharmaceuticals by 2.2% in the 2nd quarter. Conning Inc. now owns 1,521 shares of the pharmaceutical company’s stock worth $713,000 after purchasing an additional 33 shares during the period. BLB&B Advisors LLC bought a new position in shares of Vertex Pharmaceuticals in the second quarter worth about $200,000. Finally, Strategic Blueprint LLC lifted its holdings in Vertex Pharmaceuticals by 12.5% during the second quarter. Strategic Blueprint LLC now owns 1,080 shares of the pharmaceutical company’s stock valued at $506,000 after purchasing an additional 120 shares in the last quarter. 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.