Vertex Pharmaceuticals (NASDAQ:VRTX) Receives Outperform Rating from William Blair

Vertex Pharmaceuticals (NASDAQ:VRTX)‘s stock had its “outperform” rating restated by analysts at William Blair in a research note issued to investors on Monday,RTT News reports.

A number of other research firms have also issued reports on VRTX. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, December 20th. Jefferies Financial Group upgraded 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 research report on Monday, December 9th. Morgan Stanley upped their target price on Vertex Pharmaceuticals from $473.00 to $476.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Canaccord Genuity Group raised their price target on shares of Vertex Pharmaceuticals from $361.00 to $408.00 and gave the stock a “sell” rating in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $490.38.

Vertex Pharmaceuticals Trading Up 0.9 %

Shares of NASDAQ:VRTX traded up $3.81 during midday trading on Monday, reaching $413.37. The company had a trading volume of 1,859,546 shares, compared to its average volume of 1,563,207. The company has a fifty day simple moving average of $448.88 and a two-hundred day simple moving average of $467.95. The firm has a market cap of $106.45 billion, a price-to-earnings ratio of -207.72 and a beta of 0.40. Vertex Pharmaceuticals has a 1-year low of $377.85 and a 1-year high of $519.88. 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:VRTX) last announced its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 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 analysts’ expectations of $2.69 billion. During the same period last year, the company posted $3.67 earnings per share. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. Research analysts predict that Vertex Pharmaceuticals will post -1.83 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Whalen Wealth Management Inc. acquired a new position in shares of Vertex Pharmaceuticals during the third quarter valued at about $662,000. Czech National Bank boosted its stake in Vertex Pharmaceuticals by 6.2% in the 4th quarter. Czech National Bank now owns 55,838 shares of the pharmaceutical company’s stock valued at $22,486,000 after buying an additional 3,260 shares in the last quarter. Creative Planning boosted its stake in shares of Vertex Pharmaceuticals by 5.3% in the 2nd quarter. Creative Planning now owns 79,117 shares of the pharmaceutical company’s stock valued at $37,084,000 after purchasing an additional 3,998 shares in the last quarter. Mizuho Securities USA LLC increased its position in shares of Vertex Pharmaceuticals by 289.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 77,393 shares of the pharmaceutical company’s stock worth $35,994,000 after purchasing an additional 57,497 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in Vertex Pharmaceuticals by 19.4% during the 4th 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 during the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

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.