Vertex Pharmaceuticals’ (VRTX) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Vertex Pharmaceuticals (NASDAQ:VRTX) in a report issued on Friday morning,Benzinga reports. The firm currently has a $480.00 target price on the pharmaceutical company’s stock.

Several other research analysts have also recently weighed in on VRTX. StockNews.com cut shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 21st. JPMorgan Chase & Co. cut their price target on Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Citigroup began coverage on Vertex Pharmaceuticals in a report on Thursday, November 14th. They set a “buy” rating and a $575.00 price objective for the company. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, December 20th. Finally, William Blair restated an “outperform” rating on shares of Vertex Pharmaceuticals in a report on Monday, January 13th. Two 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 stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $494.84.

Vertex Pharmaceuticals Trading Down 0.0 %

VRTX opened at $439.62 on Friday. 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 firm’s 50-day simple moving average is $435.88 and its 200-day simple moving average is $464.95. Vertex Pharmaceuticals has a twelve month low of $377.85 and a twelve month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data 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 net margin of 4.52% and a negative return on equity of 1.91%. The firm had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.69 billion. During the same period in the prior year, the firm earned $3.67 earnings per share. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Vertex Pharmaceuticals will post -1.9 EPS for the current fiscal year.

Hedge Funds Weigh In On Vertex Pharmaceuticals

A number of large investors have recently bought and sold shares of the company. Czech National Bank boosted its holdings in Vertex Pharmaceuticals by 6.2% during the fourth quarter. Czech National Bank now owns 55,838 shares of the pharmaceutical company’s stock worth $22,486,000 after purchasing an additional 3,260 shares during the last quarter. Whalen Wealth Management Inc. acquired a new position in shares of Vertex Pharmaceuticals during the 3rd quarter worth about $662,000. Creative Planning grew its holdings in shares of Vertex Pharmaceuticals by 5.3% in the 2nd quarter. Creative Planning now owns 79,117 shares of the pharmaceutical company’s stock valued at $37,084,000 after acquiring an additional 3,998 shares in the last quarter. Mizuho Securities USA LLC increased its position in shares of Vertex Pharmaceuticals by 289.0% in the third quarter. Mizuho Securities USA LLC now owns 77,393 shares of the pharmaceutical company’s stock valued at $35,994,000 after acquiring an additional 57,497 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in Vertex Pharmaceuticals by 19.4% during the fourth quarter. Nordea Investment Management AB now owns 342,429 shares of the pharmaceutical company’s stock worth $137,783,000 after acquiring an additional 55,739 shares in the last quarter. 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.