Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target Cut to $460.00 by Analysts at Wells Fargo & Company

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) had its price objective cut by analysts at Wells Fargo & Company from $555.00 to $460.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an "overweight" rating on the pharmaceutical company's stock. Wells Fargo & Company's target price suggests a potential upside of 12.32% from the stock's current price.

Other analysts also recently issued reports about the stock. Canaccord Genuity Group raised their target price on shares of Vertex Pharmaceuticals from $361.00 to $408.00 and gave the stock a "sell" rating in a report on Wednesday, November 6th. Bank of America reduced their target price on shares of Vertex Pharmaceuticals from $545.00 to $522.00 and set a "buy" rating for the company in a research note on Thursday, December 19th. HC Wainwright dropped their price target on Vertex Pharmaceuticals from $600.00 to $535.00 and set a "buy" rating on the stock in a research note on Friday, December 20th. Needham & Company LLC reaffirmed a "hold" rating on shares of Vertex Pharmaceuticals in a research report on Friday, December 20th. Finally, Stifel Nicolaus lifted their target price on Vertex Pharmaceuticals from $490.00 to $494.00 and gave the company a "hold" rating in a research report on Monday, December 16th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus target price of $490.38.

Vertex Pharmaceuticals Trading Down 0.6 %

Shares of VRTX stock traded down $2.55 during trading hours on Friday, reaching $409.56. The company had a trading volume of 1,687,861 shares, compared to its average volume of 1,513,822. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20. Vertex Pharmaceuticals has a 1-year low of $377.85 and a 1-year high of $519.88. The company has a 50 day moving average of $450.11 and a 200 day moving average of $468.49. The firm has a market cap of $105.47 billion, a price-to-earnings ratio of -205.81 and a beta of 0.40.

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 the consensus estimate of $3.61 by $0.77. The company had revenue of $2.77 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company earned $3.67 EPS. On average, equities research analysts anticipate that Vertex Pharmaceuticals will post -1.83 EPS for the current year.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the company. Mutual Advisors LLC increased its position in Vertex Pharmaceuticals by 0.6% during the 3rd quarter. Mutual Advisors LLC now owns 3,710 shares of the pharmaceutical company's stock worth $1,751,000 after purchasing an additional 21 shares in the last quarter. Daymark Wealth Partners LLC increased its holdings in shares of Vertex Pharmaceuticals by 2.8% during the third quarter. Daymark Wealth Partners LLC now owns 804 shares of the pharmaceutical company's stock worth $374,000 after buying an additional 22 shares in the last quarter. Grove Bank & Trust lifted its stake in shares of Vertex Pharmaceuticals by 5.7% in the 3rd quarter. Grove Bank & Trust now owns 410 shares of the pharmaceutical company's stock valued at $191,000 after acquiring an additional 22 shares during the last quarter. Outlook Wealth Advisors LLC boosted its holdings in shares of Vertex Pharmaceuticals by 2.8% during the 3rd quarter. Outlook Wealth Advisors LLC now owns 892 shares of the pharmaceutical company's stock valued at $415,000 after acquiring an additional 24 shares in the last quarter. Finally, Dunhill Financial LLC grew its position in 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 acquiring an additional 24 shares during the last quarter. 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.