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

Vertex Pharmaceuticals (NASDAQ:VRTX - Free Report) had its price objective increased by Scotiabank from $430.00 to $433.00 in a research note published on Friday,Benzinga reports. Scotiabank currently has a sector perform rating on the pharmaceutical company's stock.

A number of other brokerages have also commented on VRTX. Cantor Fitzgerald restated an "overweight" rating and set a $480.00 price objective on shares of Vertex Pharmaceuticals in a report on Friday, January 24th. Oppenheimer lowered Vertex Pharmaceuticals from an "outperform" rating to a "market perform" rating in a report on Thursday, December 19th. JPMorgan Chase & Co. decreased their price objective on Vertex Pharmaceuticals from $503.00 to $500.00 and set an "overweight" rating for the company in a report on Monday, December 23rd. Royal Bank of Canada boosted their target price on Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a "sector perform" rating in a research note on Tuesday, November 5th. Finally, Piper Sandler decreased their price target on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an "overweight" rating for the company in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $502.58.

Vertex Pharmaceuticals Trading Up 2.5 %

Shares of Vertex Pharmaceuticals stock traded up $11.91 during trading hours on Friday, hitting $482.28. The company's stock had a trading volume of 2,025,662 shares, compared to its average volume of 1,630,273. The company has a market capitalization of $124.20 billion, a PE ratio of -242.35, a price-to-earnings-growth ratio of 2.39 and a beta of 0.41. 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 stock has a 50 day moving average of $434.73 and a 200 day moving average of $462.62. Vertex Pharmaceuticals has a 12 month low of $377.85 and a 12 month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.61 by $0.77. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The business had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.69 billion. During the same period in the prior year, the business earned $3.67 EPS. Vertex Pharmaceuticals's revenue for the quarter was up 11.6% compared to the same quarter last year. Analysts predict that Vertex Pharmaceuticals will post -1.93 earnings per share for the current year.

Institutional Trading of Vertex Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in VRTX. Edgewood Management LLC lifted its position in shares of Vertex Pharmaceuticals by 7,876.3% in the 3rd quarter. Edgewood Management LLC now owns 1,546,370 shares of the pharmaceutical company's stock worth $719,186,000 after purchasing an additional 1,526,983 shares during the period. WCM Investment Management LLC bought a new position in Vertex Pharmaceuticals during the fourth quarter worth $435,899,000. Jennison Associates LLC boosted its position in Vertex Pharmaceuticals by 18.1% during the third quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company's stock valued at $2,581,373,000 after acquiring an additional 851,054 shares during the last quarter. Wellington Management Group LLP grew its holdings in Vertex Pharmaceuticals by 17.2% during the 3rd quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company's stock worth $2,231,858,000 after acquiring an additional 704,421 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in shares of Vertex Pharmaceuticals by 169.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 839,672 shares of the pharmaceutical company's stock worth $338,136,000 after acquiring an additional 528,029 shares in the last quarter. 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.