Vertex Pharmaceuticals (NASDAQ:VRTX) Upgraded by Canaccord Genuity Group to “Hold” Rating

Canaccord Genuity Group upgraded shares of Vertex Pharmaceuticals (NASDAQ:VRTX) from a sell rating to a hold rating in a report published on Tuesday morning, Marketbeat reports.

VRTX has been the topic of a number of other research reports. Stifel Nicolaus increased their price target on Vertex Pharmaceuticals from $490.00 to $494.00 and gave the stock a “hold” rating in a research note on Monday, December 16th. Piper Sandler decreased 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. Jefferies Financial Group raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and upped their price objective for the company from $500.00 to $550.00 in a research note on Monday, December 9th. StockNews.com cut shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 21st. Finally, Oppenheimer lowered shares of Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. Ten equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $505.29.

Vertex Pharmaceuticals Stock Down 3.1 %

VRTX opened at $455.22 on Tuesday. The business’s fifty day simple moving average is $435.95 and its 200 day simple moving average is $462.13. Vertex Pharmaceuticals has a 52 week low of $377.85 and a 52 week high of $519.88. The firm has a market cap of $117.23 billion, a P/E ratio of -228.75, a PEG ratio of 1.80 and a beta of 0.41. 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) last issued its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 EPS for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. As a group, equities research analysts anticipate that Vertex Pharmaceuticals will post -1.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Northwest Investment Counselors LLC purchased a new stake in Vertex Pharmaceuticals during the 3rd quarter worth approximately $25,000. Dunhill Financial LLC grew its position in shares of Vertex Pharmaceuticals by 70.6% during the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after buying an additional 24 shares in the last quarter. Highline Wealth Partners LLC bought a new stake in shares of Vertex Pharmaceuticals in the third quarter worth $27,000. Legacy Investment Solutions LLC acquired a new stake in Vertex Pharmaceuticals in the third quarter valued at $33,000. Finally, Brown Lisle Cummings Inc. bought a new position in Vertex Pharmaceuticals during the 4th quarter valued at $30,000. Institutional investors and hedge funds 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.