Vertex Pharmaceuticals’ (VRTX) “Overweight” Rating Reiterated at Cantor Fitzgerald

Vertex Pharmaceuticals (NASDAQ:VRTX)‘s stock had its “overweight” rating reaffirmed by Cantor Fitzgerald in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $480.00 target price on the pharmaceutical company’s stock. Cantor Fitzgerald’s price target indicates a potential upside of 3.97% from the company’s previous close.

VRTX has been the subject of several other reports. Wells Fargo & Company cut Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 price target for the company. in a research report on Thursday. Scotiabank increased their target price on shares of Vertex Pharmaceuticals from $430.00 to $433.00 and gave the company a “sector perform” rating in a research report on Friday. Bank of America lowered 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, December 19th. Barclays decreased their target price on shares of Vertex Pharmaceuticals from $509.00 to $418.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Finally, JPMorgan Chase & Co. dropped their price target on 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 analyst has rated the stock with a sell rating, ten have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $502.58.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $461.68 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47. The firm has a fifty day moving average of $434.55 and a 200 day moving average of $463.11. The firm has a market cap of $118.90 billion, a PE ratio of -232.00, a PEG ratio of 2.29 and a beta of 0.40. Vertex Pharmaceuticals has a one year low of $377.85 and a one year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released 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. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The business had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.69 billion. During the same quarter in the previous year, the company earned $3.67 earnings per share. The company’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, research analysts predict that Vertex Pharmaceuticals will post -1.93 EPS for the current fiscal year.

Institutional Trading of Vertex Pharmaceuticals

Several hedge funds have recently modified their holdings of the stock. Convergence Investment Partners LLC grew its position in shares of Vertex Pharmaceuticals by 109.8% during the fourth quarter. Convergence Investment Partners LLC now owns 1,095 shares of the pharmaceutical company’s stock worth $441,000 after buying an additional 573 shares in the last quarter. New York State Common Retirement Fund lifted its stake in Vertex Pharmaceuticals by 0.8% in the fourth quarter. New York State Common Retirement Fund now owns 362,334 shares of the pharmaceutical company’s stock worth $145,912,000 after acquiring an additional 2,855 shares during the last quarter. Davidson Investment Advisors grew its holdings in Vertex Pharmaceuticals by 26.0% during the 4th quarter. Davidson Investment Advisors now owns 61,161 shares of the pharmaceutical company’s stock worth $24,630,000 after acquiring an additional 12,631 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund increased its position in shares of Vertex Pharmaceuticals by 8.3% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 8,278 shares of the pharmaceutical company’s stock valued at $3,334,000 after purchasing an additional 636 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in shares of Vertex Pharmaceuticals by 141.4% in the 4th quarter. Venturi Wealth Management LLC now owns 6,112 shares of the pharmaceutical company’s stock valued at $2,461,000 after purchasing an additional 3,580 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

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.