BMO Capital Markets Has Lowered Expectations for Vertex Pharmaceuticals (NASDAQ:VRTX) Stock Price

Vertex Pharmaceuticals (NASDAQ:VRTX - Free Report) had its price target decreased by BMO Capital Markets from $566.00 to $520.00 in a report released on Friday,Benzinga reports. BMO Capital Markets currently has an outperform rating on the pharmaceutical company's stock.

VRTX has been the subject of several other reports. Raymond James reissued a "market perform" rating on shares of Vertex Pharmaceuticals in a research report on Thursday, October 10th. UBS Group lifted their target price on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Morgan Stanley increased their price target on Vertex Pharmaceuticals from $473.00 to $476.00 and gave the stock an "equal weight" rating in a report on Tuesday, November 5th. Jefferies Financial Group upgraded shares of Vertex Pharmaceuticals from a "hold" rating to a "buy" rating and lifted their price objective for the company from $500.00 to $550.00 in a research note on Monday, December 9th. Finally, Oppenheimer lowered shares of Vertex Pharmaceuticals from an "outperform" rating to a "market perform" rating in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average target price of $499.77.

Vertex Pharmaceuticals Trading Up 0.2 %

VRTX stock traded up $0.63 during trading on Friday, hitting $397.27. The company had a trading volume of 6,052,222 shares, compared to its average volume of 1,238,190. The stock has a market cap of $102.31 billion, a PE ratio of -199.63 and a beta of 0.36. The business has a 50-day moving average of $472.10 and a 200-day moving average of $475.81. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals has a one year low of $377.85 and a one year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, beating analysts' consensus estimates of $3.61 by $0.77. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same period in the prior year, the firm posted $3.67 EPS. The company's quarterly revenue was up 11.6% on a year-over-year basis. Research analysts predict that Vertex Pharmaceuticals will post -1.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Vertex Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the business. Northwest Investment Counselors LLC bought a new stake in Vertex Pharmaceuticals during the third quarter worth $25,000. Highline Wealth Partners LLC bought a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter worth $27,000. Dunhill Financial LLC boosted its holdings in shares of 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 buying an additional 24 shares during the last quarter. GHP Investment Advisors Inc. bought a new position in Vertex Pharmaceuticals during the second quarter valued at about $29,000. Finally, Stephens Consulting LLC purchased a new stake in Vertex Pharmaceuticals during the second quarter worth about $31,000. Hedge funds and other institutional investors own 90.96% of the company's stock.

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.