Vertex Pharmaceuticals (NASDAQ:VRTX) Given New $533.00 Price Target at Piper Sandler

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price target reduced by Piper Sandler from $535.00 to $533.00 in a research note issued to investors on Monday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the pharmaceutical company’s stock.

Several other research analysts have also weighed in on the stock. Scotiabank lifted their price objective on shares of Vertex Pharmaceuticals from $426.00 to $430.00 and gave the stock a “sector perform” rating in a research note on Monday, December 23rd. Citigroup initiated coverage on shares of Vertex Pharmaceuticals in a report on Thursday, November 14th. They issued a “buy” rating and a $575.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $480.00 target price on shares of Vertex Pharmaceuticals in a report on Friday, January 24th. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, December 20th. Finally, Barclays decreased their price objective on Vertex Pharmaceuticals from $509.00 to $418.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $494.76.

Vertex Pharmaceuticals Stock Performance

Vertex Pharmaceuticals stock opened at $441.52 on Monday. Vertex Pharmaceuticals has a 1 year low of $377.85 and a 1 year high of $519.88. The company’s 50-day moving average is $434.75 and its two-hundred day moving average is $463.64. 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 market cap of $113.70 billion, a PE ratio of -221.87, a PEG ratio of 2.20 and a beta of 0.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, beating 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 quarter in the previous year, the company posted $3.67 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. Equities analysts anticipate that Vertex Pharmaceuticals will post -1.9 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Avestar Capital LLC raised its stake in shares of Vertex Pharmaceuticals by 16.4% during the fourth quarter. Avestar Capital LLC now owns 3,674 shares of the pharmaceutical company’s stock valued at $1,480,000 after acquiring an additional 518 shares during the last quarter. Ingalls & Snyder LLC lifted its holdings in Vertex Pharmaceuticals by 202.0% during the 4th quarter. Ingalls & Snyder LLC now owns 2,990 shares of the pharmaceutical company’s stock worth $1,204,000 after buying an additional 2,000 shares during the period. Van ECK Associates Corp increased its stake in shares of Vertex Pharmaceuticals by 5.2% in the fourth quarter. Van ECK Associates Corp now owns 159,269 shares of the pharmaceutical company’s stock valued at $64,138,000 after buying an additional 7,841 shares during the period. Retirement Guys Formula LLC lifted its stake in shares of Vertex Pharmaceuticals by 3.1% in the fourth quarter. Retirement Guys Formula LLC now owns 2,990 shares of the pharmaceutical company’s stock worth $1,204,000 after acquiring an additional 89 shares during the period. Finally, Davidson Capital Management Inc. boosted its holdings in Vertex Pharmaceuticals by 5.6% in the fourth quarter. Davidson Capital Management Inc. now owns 6,896 shares of the pharmaceutical company’s stock valued at $2,777,000 after acquiring an additional 365 shares during the last quarter. Institutional investors and hedge funds 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.