Piper Sandler Has Lowered Expectations for Vertex Pharmaceuticals (NASDAQ:VRTX) Stock Price

Vertex Pharmaceuticals (NASDAQ:VRTX) had its target price cut by Piper Sandler from $535.00 to $533.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the pharmaceutical company’s stock. Piper Sandler’s price objective points to a potential upside of 20.95% from the stock’s current price.

Several other equities research analysts have also commented on the company. StockNews.com lowered Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 21st. Truist Financial decreased their price objective on Vertex Pharmaceuticals from $550.00 to $460.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday, December 20th. Wells Fargo & Company decreased their target price on shares of Vertex Pharmaceuticals from $555.00 to $460.00 and set an “overweight” rating on the stock in a research note on Friday, January 10th. Finally, Citigroup began coverage on shares of Vertex Pharmaceuticals in a research report on Thursday, November 14th. They issued a “buy” rating and a $575.00 price target for the company. Two equities research 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, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $494.76.

Vertex Pharmaceuticals Stock Down 0.7 %

Vertex Pharmaceuticals stock opened at $440.68 on Monday. The stock has a fifty day moving average of $434.90 and a 200 day moving average of $463.98. The stock has a market cap of $113.49 billion, a PE ratio of -221.45, a price-to-earnings-growth ratio of 2.20 and a beta of 0.40. Vertex Pharmaceuticals has a one year low of $377.85 and a one year high of $519.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47.

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. The firm had revenue of $2.77 billion for the quarter, compared to analysts’ expectations 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 in the prior year, the business earned $3.67 EPS. As a group, sell-side analysts predict that Vertex Pharmaceuticals will post -1.9 EPS for the current year.

Hedge Funds Weigh In On Vertex Pharmaceuticals

Several large investors have recently modified their holdings of VRTX. Northwest Investment Counselors LLC bought a new position in Vertex Pharmaceuticals during the third quarter valued at $25,000. Dunhill Financial LLC boosted its stake 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 worth $27,000 after purchasing an additional 24 shares during the period. Highline Wealth Partners LLC bought a new position in Vertex Pharmaceuticals during the 3rd quarter valued at about $27,000. Legacy Investment Solutions LLC purchased a new stake in Vertex Pharmaceuticals in the 3rd quarter worth about $33,000. Finally, Brown Lisle Cummings Inc. bought a new stake in Vertex Pharmaceuticals in the fourth quarter worth about $30,000. 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.