Vertex Pharmaceuticals (NASDAQ:VRTX) Stock Price Expected to Rise, Scotiabank Analyst Says

Vertex Pharmaceuticals (NASDAQ:VRTX) had its target price hoisted by analysts at Scotiabank from $426.00 to $430.00 in a report released on Monday,Benzinga reports. The firm currently has a “sector perform” rating on the pharmaceutical company’s stock. Scotiabank’s price target would suggest a potential upside of 5.35% from the stock’s current price.

A number of other analysts have also commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $480.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, November 5th. Bank of America decreased their price objective on shares of Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating for the company in a report on Thursday, December 19th. JPMorgan Chase & Co. reduced their price target on shares of Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating on the stock in a research report on Monday. Jefferies Financial Group upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and raised their price objective for the stock from $500.00 to $550.00 in a report on Monday, December 9th. Finally, Stifel Nicolaus upped their target price on Vertex Pharmaceuticals from $490.00 to $494.00 and gave the stock a “hold” rating in a report on Monday, December 16th. Three 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 stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $494.04.

Vertex Pharmaceuticals Trading Up 0.7 %

NASDAQ:VRTX opened at $408.18 on Monday. The firm has a market capitalization of $105.12 billion, a P/E ratio of -205.12 and a beta of 0.36. Vertex Pharmaceuticals has a 52 week low of $377.85 and a 52 week high of $519.88. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. The company has a fifty day moving average of $468.82 and a 200 day moving average of $474.68.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, topping analysts’ consensus estimates 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 prior year, the business posted $3.67 earnings per share. Vertex Pharmaceuticals’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, research analysts predict that Vertex Pharmaceuticals will post -1.83 earnings per share for the current year.

Institutional Trading of Vertex Pharmaceuticals

Large investors have recently modified their holdings of the company. Principal Financial Group Inc. boosted its position in Vertex Pharmaceuticals by 5.6% in the third quarter. Principal Financial Group Inc. now owns 410,359 shares of the pharmaceutical company’s stock worth $190,850,000 after purchasing an additional 21,649 shares during the last quarter. Lord Abbett & CO. LLC lifted its stake in shares of Vertex Pharmaceuticals by 10.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 3,279 shares of the pharmaceutical company’s stock worth $1,525,000 after purchasing an additional 300 shares during the period. Oddo BHF Asset Management Sas purchased a new position in shares of Vertex Pharmaceuticals in the third quarter worth approximately $7,912,000. American Trust bought a new stake in Vertex Pharmaceuticals during the third quarter valued at approximately $680,000. Finally, Tri Ri Asset Management Corp purchased a new stake in Vertex Pharmaceuticals during the third quarter valued at approximately $8,726,000. Institutional investors own 90.96% of the company’s stock.

About Vertex Pharmaceuticals

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.