Vertex Pharmaceuticals (NASDAQ:VRTX) Shares Gap Up Following Analyst Upgrade

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Get Free Report)'s share price gapped up prior to trading on Friday after Scotiabank raised their price target on the stock from $430.00 to $433.00. The stock had previously closed at $438.40, but opened at $454.17. Scotiabank currently has a sector perform rating on the stock. Vertex Pharmaceuticals shares last traded at $466.54, with a volume of 393,072 shares traded.

A number of other brokerages also recently commented on VRTX. Cantor Fitzgerald reissued an "overweight" rating and set a $480.00 price objective on shares of Vertex Pharmaceuticals in a research report on Friday, January 24th. UBS Group boosted their target price on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. Piper Sandler cut their price target on Vertex Pharmaceuticals from $535.00 to $533.00 and set an "overweight" rating on the stock in a research note on Monday, January 27th. Needham & Company LLC reiterated a "hold" rating on shares of Vertex Pharmaceuticals in a report on Friday. Finally, HC Wainwright boosted their target price on Vertex Pharmaceuticals from $535.00 to $550.00 and gave the stock a "buy" rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $502.58.

Hedge Funds Weigh In On Vertex Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in VRTX. Northwest Investment Counselors LLC acquired a new position in shares of Vertex Pharmaceuticals during the third quarter worth approximately $25,000. Dunhill Financial LLC lifted its stake 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 acquiring an additional 24 shares during the period. Highline Wealth Partners LLC bought a new position in Vertex Pharmaceuticals during the 3rd quarter valued at $27,000. Legacy Investment Solutions LLC bought a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter worth $33,000. Finally, Brown Lisle Cummings Inc. acquired a new stake in Vertex Pharmaceuticals during the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Up 2.5 %

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 business's 50 day simple moving average is $434.73 and its 200 day simple moving average is $462.62. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.69 billion. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. Vertex Pharmaceuticals's quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.67 EPS. As a group, analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.93 EPS for the current year.

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.