Vertex Pharmaceuticals (NASDAQ:VRTX) Given New $520.00 Price Target at BMO Capital Markets

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

Several other research analysts have also commented on the stock. Bank of America decreased their price target on shares of Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating for the company in a report on Thursday. Citigroup assumed coverage on Vertex Pharmaceuticals in a research note on Thursday, November 14th. They set a “buy” rating and a $575.00 price objective for the company. UBS Group lifted their price objective on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Raymond James restated a “market perform” rating on shares of Vertex Pharmaceuticals in a research note on Thursday, October 10th. Finally, Royal Bank of Canada boosted their price objective on Vertex Pharmaceuticals from $437.00 to $451.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 5th. Three research 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 has a consensus rating of “Moderate Buy” and an average target price of $499.77.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock opened at $397.27 on Friday. The stock has a market capitalization of $102.31 billion, a price-to-earnings ratio of -199.63 and a beta of 0.36. Vertex Pharmaceuticals has a one year low of $377.85 and a one year high of $519.88. The company’s 50-day simple moving average is $470.41 and its 200-day simple moving average is $475.30. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its 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 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 business’s revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the firm earned $3.67 EPS. Equities analysts anticipate that Vertex Pharmaceuticals will post -1.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Vertex Pharmaceuticals

Several hedge funds have recently bought and sold shares of VRTX. Edgewood Management LLC increased its holdings in shares of Vertex Pharmaceuticals by 7,876.3% during the 3rd quarter. Edgewood Management LLC now owns 1,546,370 shares of the pharmaceutical company’s stock valued at $719,186,000 after acquiring an additional 1,526,983 shares during the last quarter. Jennison Associates LLC grew its holdings 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 purchasing an additional 851,054 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Vertex Pharmaceuticals by 17.2% in the third quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company’s stock valued at $2,231,858,000 after purchasing an additional 704,421 shares during the period. International Assets Investment Management LLC raised its holdings in Vertex Pharmaceuticals by 74,015.5% in the 3rd quarter. International Assets Investment Management LLC now owns 324,626 shares of the pharmaceutical company’s stock worth $150,977,000 after acquiring an additional 324,188 shares during the period. Finally, AustralianSuper Pty Ltd bought a new position in Vertex Pharmaceuticals in the 3rd quarter worth approximately $105,282,000. 90.96% of the stock is owned by institutional investors and hedge funds.

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.