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

Vertex Pharmaceuticals (NASDAQ:VRTXFree Report) had its target price hoisted by Scotiabank from $430.00 to $433.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has a sector perform rating on the pharmaceutical company’s stock.

Several other research analysts have also issued reports on VRTX. Morgan Stanley upped their target price on shares of Vertex Pharmaceuticals from $473.00 to $476.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Jefferies Financial Group upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and upped their target price for the stock from $500.00 to $550.00 in a research report on Monday, December 9th. William Blair restated an “outperform” rating on shares of Vertex Pharmaceuticals in a research report on Monday, January 13th. StockNews.com lowered shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 21st. Finally, JPMorgan Chase & Co. cut their price target on shares of Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $502.58.

Check Out Our Latest Stock Report on Vertex Pharmaceuticals

Vertex Pharmaceuticals Stock Up 5.3 %

Shares of NASDAQ:VRTX opened at $461.68 on Friday. Vertex Pharmaceuticals has a 52-week low of $377.85 and a 52-week high of $519.88. The firm has a fifty day moving average of $434.55 and a 200 day moving average of $462.93. The firm has a market capitalization of $118.90 billion, a PE ratio of -232.00, a price-to-earnings-growth ratio of 2.29 and a beta of 0.40. 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:VRTXGet Free Report) last announced 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. 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 analyst estimates of $2.69 billion. During the same period in the previous year, the business earned $3.67 earnings per share. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, research analysts anticipate that Vertex Pharmaceuticals will post -1.93 EPS for the current fiscal year.

Hedge Funds Weigh In On Vertex Pharmaceuticals

Institutional investors have recently bought and sold shares of the stock. Czech National Bank increased its stake in shares of Vertex Pharmaceuticals by 6.2% during the fourth quarter. Czech National Bank now owns 55,838 shares of the pharmaceutical company’s stock valued at $22,486,000 after purchasing an additional 3,260 shares in the last quarter. Whalen Wealth Management Inc. bought a new position in shares of Vertex Pharmaceuticals during the third quarter valued at approximately $662,000. Mizuho Securities USA LLC increased its stake in shares of Vertex Pharmaceuticals by 289.0% during the third quarter. Mizuho Securities USA LLC now owns 77,393 shares of the pharmaceutical company’s stock valued at $35,994,000 after purchasing an additional 57,497 shares in the last quarter. Concord Wealth Partners increased its stake in shares of Vertex Pharmaceuticals by 32.6% during the fourth quarter. Concord Wealth Partners now owns 3,508 shares of the pharmaceutical company’s stock valued at $1,413,000 after purchasing an additional 862 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of Vertex Pharmaceuticals by 19.4% during the fourth quarter. Nordea Investment Management AB now owns 342,429 shares of the pharmaceutical company’s stock valued at $137,783,000 after purchasing an additional 55,739 shares in the last quarter. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Vertex Pharmaceuticals (NASDAQ:VRTX)

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