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

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price objective decreased by Barclays from $509.00 to $418.00 in a report released on Friday,Benzinga reports. Barclays currently has an equal weight rating on the pharmaceutical company’s stock.

VRTX has been the topic of several other reports. Citigroup began coverage on Vertex Pharmaceuticals in a research report on Thursday, November 14th. They issued a “buy” rating and a $575.00 price target on the stock. Raymond James reiterated a “market perform” rating on shares of Vertex Pharmaceuticals in a research note on Thursday, October 10th. BMO Capital Markets decreased their price target on shares of Vertex Pharmaceuticals from $566.00 to $520.00 and set an “outperform” rating on the stock in a research report on Friday. Cantor Fitzgerald restated an “overweight” rating and set a $480.00 price objective on shares of Vertex Pharmaceuticals in a report on Tuesday, November 5th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research note 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $499.77.

Vertex Pharmaceuticals Trading Up 0.2 %

Shares of VRTX stock opened at $397.27 on Friday. The business’s 50 day moving average is $470.41 and its two-hundred day moving average is $475.30. The company has a quick ratio of 2.20, a current ratio of 2.47 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. The company has a market cap of $102.31 billion, a PE ratio of -199.63 and a beta of 0.36.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Northwest Investment Counselors LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter valued at $25,000. Highline Wealth Partners LLC acquired a new stake in Vertex Pharmaceuticals in the third quarter worth about $27,000. Dunhill Financial LLC raised its holdings 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 purchasing an additional 24 shares during the last quarter. GHP Investment Advisors Inc. acquired a new position in Vertex Pharmaceuticals during the 2nd quarter valued at about $29,000. Finally, Stephens Consulting LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter worth approximately $31,000. 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.