BMO Capital Markets Lowers Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target to $520.00

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price target cut by analysts at BMO Capital Markets from $566.00 to $520.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the pharmaceutical company’s stock. BMO Capital Markets’ target price points to a potential upside of 30.89% from the company’s current price.

Other research analysts also recently issued research reports about the company. Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday. Royal Bank of Canada increased their price objective on shares of Vertex Pharmaceuticals from $437.00 to $451.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 5th. Raymond James restated a “market perform” rating on shares of Vertex Pharmaceuticals in a research report on Thursday, October 10th. Bank of America decreased their price target on shares of Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, JPMorgan Chase & Co. cut their price objective on shares of Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $499.77.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ VRTX opened at $397.27 on Friday. The firm’s 50-day moving average price is $470.41 and its 200-day moving average price is $475.30. Vertex Pharmaceuticals has a 52-week low of $377.85 and a 52-week high of $519.88. The company has a market cap of $102.31 billion, a PE ratio of -199.63 and a beta of 0.36. 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 posted its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, topping analysts’ consensus estimates of $3.61 by $0.77. The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.69 billion. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The firm’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.67 EPS. As a group, analysts anticipate that Vertex Pharmaceuticals will post -1.83 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Northwest Investment Counselors LLC bought a new position in Vertex Pharmaceuticals during the third quarter valued at approximately $25,000. Highline Wealth Partners LLC bought a new stake in Vertex Pharmaceuticals in the 3rd quarter worth approximately $27,000. Dunhill Financial LLC raised its holdings in shares of Vertex Pharmaceuticals by 70.6% during the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after acquiring an additional 24 shares in the last quarter. GHP Investment Advisors Inc. bought a new position in shares of Vertex Pharmaceuticals during the 2nd quarter valued at approximately $29,000. Finally, Stephens Consulting LLC purchased a new position in shares of Vertex Pharmaceuticals in the second quarter valued at $31,000. Hedge funds and other 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.