Bank of America Has Lowered Expectations for Vertex Pharmaceuticals (NASDAQ:VRTX) Stock Price

Vertex Pharmaceuticals (NASDAQ:VRTX - Free Report) had its price objective trimmed by Bank of America from $545.00 to $522.00 in a report published on Thursday,Benzinga reports. The brokerage currently has a buy rating on the pharmaceutical company's stock.

VRTX has been the subject of several other research reports. Citigroup began coverage on shares of Vertex Pharmaceuticals in a research note on Thursday, November 14th. They issued a "buy" rating and a $575.00 price objective for the company. Oppenheimer decreased their price objective on shares of Vertex Pharmaceuticals from $550.00 to $540.00 and set an "outperform" rating for the company in a report on Wednesday, October 30th. HC Wainwright restated a "buy" rating and set a $600.00 price target on shares of Vertex Pharmaceuticals in a research note on Monday, October 21st. Royal Bank of Canada increased their price objective on Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a "sector perform" rating in a report on Tuesday, November 5th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $480.00 price objective on shares of Vertex Pharmaceuticals in a report on Tuesday, November 5th. Three 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 company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $505.00.

Vertex Pharmaceuticals Stock Down 11.4 %

Shares of NASDAQ:VRTX traded down $50.86 during trading on Thursday, reaching $396.64. 8,207,080 shares of the stock were exchanged, compared to its average volume of 1,218,535. The stock has a fifty day moving average of $473.69 and a two-hundred day moving average of $476.36. Vertex Pharmaceuticals has a 1-year low of $377.85 and a 1-year high of $519.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20. The firm has a market cap of $102.15 billion, a price-to-earnings ratio of -199.32 and a beta of 0.36.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The company's quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business posted $3.67 earnings per share. Research analysts anticipate that Vertex Pharmaceuticals will post -1.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Northwest Investment Counselors LLC purchased a new stake in Vertex Pharmaceuticals in the third quarter worth about $25,000. Dunhill Financial LLC boosted its stake in Vertex Pharmaceuticals by 70.6% in 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 in the last quarter. Highline Wealth Partners LLC bought a new stake in Vertex Pharmaceuticals during the 3rd quarter valued at about $27,000. GHP Investment Advisors Inc. purchased a new position in Vertex Pharmaceuticals in the second quarter worth about $29,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of Vertex Pharmaceuticals in the third quarter worth approximately $33,000. 90.96% of the stock is currently owned by institutional investors.

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.