Vertex Pharmaceuticals (NASDAQ:VRTX) Earns “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Vertex Pharmaceuticals (NASDAQ:VRTX) in a report issued on Tuesday,Benzinga reports. The brokerage currently has a $480.00 price objective on the pharmaceutical company’s stock.

A number of other research analysts also recently issued reports on the stock. Truist Financial reduced their price objective on shares of Vertex Pharmaceuticals from $550.00 to $460.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. HC Wainwright reissued a “buy” rating and issued a $550.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday. Royal Bank of Canada lifted their price objective on Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 5th. UBS Group increased their target price on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, William Blair restated an “outperform” rating on shares of Vertex Pharmaceuticals in a research note on Friday, January 31st. Ten investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $505.29.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ:VRTX opened at $455.22 on Tuesday. 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 50-day moving average price of $435.95 and a 200-day moving average price of $462.13. The company has a market cap of $117.23 billion, a price-to-earnings ratio of -228.75, a price-to-earnings-growth ratio of 1.80 and a beta of 0.41. Vertex Pharmaceuticals has a 12 month low of $377.85 and a 12 month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 EPS for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. As a group, equities analysts anticipate that Vertex Pharmaceuticals will post -1.94 EPS for the current year.

Institutional Investors Weigh In On Vertex Pharmaceuticals

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

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.