HC Wainwright Issues Positive Forecast for Vertex Pharmaceuticals (NASDAQ:VRTX) Stock Price

Vertex Pharmaceuticals (NASDAQ:VRTX) had its target price hoisted by equities researchers at HC Wainwright from $535.00 to $550.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the pharmaceutical company’s stock. HC Wainwright’s price target would indicate a potential upside of 25.46% from the stock’s current price.

VRTX has been the topic of a number of other research reports. Truist Financial lowered their target price on Vertex Pharmaceuticals from $550.00 to $460.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. Raymond James reiterated a “market perform” rating on shares of Vertex Pharmaceuticals in a research report on Thursday, October 10th. UBS Group upped their target price on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Citigroup started coverage on shares of Vertex Pharmaceuticals in a research report on Thursday, November 14th. They issued a “buy” rating and a $575.00 price objective for the company. Finally, Piper Sandler decreased their target price on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating on the stock in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $495.36.

Vertex Pharmaceuticals Stock Down 0.7 %

VRTX stock opened at $438.40 on Friday. Vertex Pharmaceuticals has a 52 week low of $377.85 and a 52 week high of $519.88. 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 company has a market cap of $112.90 billion, a P/E ratio of -220.30, a P/E/G ratio of 2.29 and a beta of 0.40. The company’s 50-day moving average price is $434.34 and its 200 day moving average price is $463.31.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, beating the consensus estimate of $3.61 by $0.77. The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. Vertex Pharmaceuticals’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the business posted $3.67 EPS. On average, research analysts expect that Vertex Pharmaceuticals will post -1.93 earnings per share for the current fiscal year.

Institutional Trading of Vertex Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the business. Northwest Investment Counselors LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter valued at about $25,000. Highline Wealth Partners LLC bought a new stake in Vertex Pharmaceuticals in the third quarter valued at about $27,000. Dunhill Financial LLC raised its stake in Vertex Pharmaceuticals by 70.6% during the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after buying an additional 24 shares in the last quarter. Brown Lisle Cummings Inc. bought a new position in Vertex Pharmaceuticals during the 4th quarter worth approximately $30,000. Finally, Legacy Investment Solutions LLC bought a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter valued at approximately $33,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

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.