Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target Raised to $520.00 at Truist Financial

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price objective lifted by Truist Financial from $460.00 to $520.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the pharmaceutical company’s stock.

Other research analysts also recently issued reports about the stock. Morgan Stanley increased their target price on shares of Vertex Pharmaceuticals from $450.00 to $459.00 and gave the company an “equal weight” rating in a research report on Tuesday. Canaccord Genuity Group raised their target price on Vertex Pharmaceuticals from $361.00 to $408.00 and gave the stock a “sell” rating in a research report on Wednesday, November 6th. Wells Fargo & Company cut Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 price target on the stock. in a research report on Thursday, January 30th. HC Wainwright reissued a “buy” rating and issued a $550.00 price objective on shares of Vertex Pharmaceuticals in a report on Tuesday. Finally, Oppenheimer downgraded shares of Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Ten equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $505.29.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $455.22 on Tuesday. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $117.23 billion, a PE ratio of -228.75, a PEG ratio of 1.80 and a beta of 0.41. The stock’s 50 day moving average price is $435.95 and its 200-day moving average price is $462.13. Vertex Pharmaceuticals has a twelve month low of $377.85 and a twelve month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (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%. On average, equities analysts anticipate that Vertex Pharmaceuticals will post -1.94 EPS for the current year.

Institutional Trading of Vertex Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Northwest Investment Counselors LLC purchased a new position in shares of Vertex Pharmaceuticals in the 3rd quarter worth about $25,000. Highline Wealth Partners LLC purchased a new stake in Vertex Pharmaceuticals in the third quarter worth approximately $27,000. Dunhill Financial LLC grew its position in Vertex Pharmaceuticals by 70.6% during the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after acquiring an additional 24 shares during the last quarter. Brown Lisle Cummings Inc. purchased a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth approximately $30,000. Finally, Legacy Investment Solutions LLC bought a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter worth approximately $33,000. 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.