Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target Raised to $459.00

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price objective increased by Morgan Stanley from $450.00 to $459.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the pharmaceutical company’s stock.

VRTX has been the topic of a number of other reports. Oppenheimer lowered Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday, January 31st. Stifel Nicolaus increased their target price on shares of Vertex Pharmaceuticals from $490.00 to $494.00 and gave the company a “hold” rating in a research report on Monday, December 16th. Citigroup initiated coverage on shares of Vertex Pharmaceuticals in a research report on Thursday, November 14th. They set a “buy” rating and a $575.00 price target on the stock. Finally, BMO Capital Markets cut their price objective on shares of Vertex Pharmaceuticals from $566.00 to $520.00 and set an “outperform” rating for the company in a report on Friday, December 20th. Ten investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $505.29.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $455.22 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47. The firm has a market cap of $117.23 billion, a PE ratio of -228.75, a PEG ratio of 1.80 and a beta of 0.41. Vertex Pharmaceuticals has a one year low of $377.85 and a one year high of $519.88. The firm has a fifty day moving average of $435.95 and a 200 day moving average of $462.13.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing the consensus estimate of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. As a group, research analysts predict that Vertex Pharmaceuticals will post -1.94 EPS for the current fiscal year.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Northwest Investment Counselors LLC purchased a new position in shares of Vertex Pharmaceuticals during the third quarter worth about $25,000. Highline Wealth Partners LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter valued at about $27,000. Dunhill Financial LLC grew its stake in 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 buying an additional 24 shares during the last quarter. Brown Lisle Cummings Inc. acquired a new position in Vertex Pharmaceuticals during the fourth quarter worth approximately $30,000. Finally, Legacy Investment Solutions LLC purchased a new stake in Vertex Pharmaceuticals in the third quarter valued at approximately $33,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

About Vertex Pharmaceuticals

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.