Vertex Pharmaceuticals (NASDAQ:VRTX) Stock Price Expected to Rise, Scotiabank Analyst Says

Vertex Pharmaceuticals (NASDAQ:VRTX) had its target price hoisted by investment analysts at Scotiabank from $426.00 to $430.00 in a report released on Monday,Benzinga reports. The firm presently has a “sector perform” rating on the pharmaceutical company’s stock. Scotiabank’s price target would indicate a potential upside of 5.35% from the stock’s current price.

Several other equities analysts have also recently commented on the stock. Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, December 20th. Cantor Fitzgerald reiterated an “overweight” rating and set a $480.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, November 5th. Morgan Stanley upped their price objective on Vertex Pharmaceuticals from $473.00 to $476.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Truist Financial lowered their target price on Vertex Pharmaceuticals from $550.00 to $460.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Royal Bank of Canada increased their price target on shares of Vertex Pharmaceuticals from $437.00 to $451.00 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 given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $494.04.

Vertex Pharmaceuticals Stock Up 0.7 %

Shares of NASDAQ VRTX opened at $408.18 on Monday. 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 has a market cap of $105.12 billion, a PE ratio of -205.12 and a beta of 0.36. The company’s fifty day simple moving average is $468.82 and its 200 day simple moving average is $474.68. Vertex Pharmaceuticals has a 12-month low of $377.85 and a 12-month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released 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. 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 revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.67 earnings per share. As a group, sell-side analysts forecast that Vertex Pharmaceuticals will post -1.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Vertex Pharmaceuticals

A number of institutional investors have recently made changes to their positions in VRTX. Northwest Investment Counselors LLC bought a new position in Vertex Pharmaceuticals during the third quarter valued at approximately $25,000. Dunhill Financial LLC grew its holdings 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 purchasing an additional 24 shares during the last quarter. Highline Wealth Partners LLC bought a new position in shares of Vertex Pharmaceuticals during the 3rd quarter valued at $27,000. GHP Investment Advisors Inc. bought a new stake in Vertex Pharmaceuticals in the second quarter worth $29,000. Finally, Legacy Investment Solutions LLC bought a new stake in Vertex Pharmaceuticals in the third quarter worth $33,000. 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.