JPMorgan Chase & Co. Issues Pessimistic Forecast for Vertex Pharmaceuticals (NASDAQ:VRTX) Stock Price

Vertex Pharmaceuticals (NASDAQ:VRTX) had its target price lowered by JPMorgan Chase & Co. from $503.00 to $500.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the pharmaceutical company’s stock.

A number of other analysts have also commented on the company. Canaccord Genuity Group lifted their price target on Vertex Pharmaceuticals from $361.00 to $408.00 and gave the company a “sell” rating in a research note on Wednesday, November 6th. Cantor Fitzgerald reiterated an “overweight” rating and set a $480.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, November 5th. Scotiabank upped their price target on shares of Vertex Pharmaceuticals from $480.00 to $486.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 5th. Morgan Stanley lifted their price target on shares of Vertex Pharmaceuticals from $473.00 to $476.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Finally, Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, December 20th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $494.04.

Vertex Pharmaceuticals Trading Up 0.7 %

Shares of Vertex Pharmaceuticals stock opened at $408.18 on Monday. The firm has a market capitalization of $105.12 billion, a PE ratio of -205.12 and a beta of 0.36. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01. The firm’s 50 day moving average is $467.30 and its 200 day moving average is $474.16. Vertex Pharmaceuticals has a 1 year low of $377.85 and a 1 year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly 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. 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 during the quarter, compared to the consensus estimate of $2.69 billion. During the same period in the prior year, the business earned $3.67 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. Equities research analysts forecast that Vertex Pharmaceuticals will post -1.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Atomi Financial Group Inc. grew its holdings in shares of Vertex Pharmaceuticals by 23.6% during the second quarter. Atomi Financial Group Inc. now owns 1,090 shares of the pharmaceutical company’s stock valued at $511,000 after buying an additional 208 shares during the last quarter. Checchi Capital Advisers LLC lifted its holdings in shares of Vertex Pharmaceuticals by 7.0% in the second quarter. Checchi Capital Advisers LLC now owns 1,805 shares of the pharmaceutical company’s stock valued at $846,000 after purchasing an additional 118 shares in the last quarter. Conning Inc. boosted its position in shares of Vertex Pharmaceuticals by 2.2% during the second quarter. Conning Inc. now owns 1,521 shares of the pharmaceutical company’s stock valued at $713,000 after buying an additional 33 shares during the last quarter. BLB&B Advisors LLC bought a new stake in Vertex Pharmaceuticals during the second quarter worth $200,000. Finally, Strategic Blueprint LLC raised its position in Vertex Pharmaceuticals by 12.5% in the 2nd quarter. Strategic Blueprint LLC now owns 1,080 shares of the pharmaceutical company’s stock valued at $506,000 after buying an additional 120 shares during the last quarter. Institutional investors own 90.96% of the company’s stock.

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.