Piper Sandler Cuts Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target to $533.00

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

A number of other research firms have also weighed in on VRTX. Citigroup started coverage on Vertex Pharmaceuticals in a research report on Thursday, November 14th. They issued a “buy” rating and a $575.00 price target for the company. William Blair restated an “outperform” rating on shares of Vertex Pharmaceuticals in a research report on Monday, January 13th. Royal Bank of Canada boosted their target price on shares of Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 5th. Bank of America decreased their target price on Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Finally, UBS Group increased their price objective on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $494.76.

Vertex Pharmaceuticals Stock Up 0.2 %

Shares of Vertex Pharmaceuticals stock opened at $441.52 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20. Vertex Pharmaceuticals has a 1-year low of $377.85 and a 1-year high of $519.88. The business’s fifty day moving average price is $434.75 and its two-hundred day moving average price is $463.64. The company has a market capitalization of $113.70 billion, a P/E ratio of -221.87, a PEG ratio of 2.20 and a beta of 0.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, beating 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 company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same period in the prior year, the company earned $3.67 EPS. Vertex Pharmaceuticals’s revenue was up 11.6% on a year-over-year basis. As a group, research analysts forecast that Vertex Pharmaceuticals will post -1.9 EPS for the current year.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. Avestar Capital LLC lifted its holdings 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 period. Ingalls & Snyder LLC boosted its position in Vertex Pharmaceuticals by 202.0% in the fourth quarter. Ingalls & Snyder LLC now owns 2,990 shares of the pharmaceutical company’s stock valued at $1,204,000 after buying an additional 2,000 shares in the last quarter. Van ECK Associates Corp grew its stake in Vertex Pharmaceuticals by 5.2% during the fourth quarter. Van ECK Associates Corp now owns 159,269 shares of the pharmaceutical company’s stock worth $64,138,000 after buying an additional 7,841 shares during the last quarter. Retirement Guys Formula LLC raised 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 valued at $1,204,000 after acquiring an additional 89 shares during the last quarter. Finally, Davidson Capital Management Inc. boosted its holdings in shares of Vertex Pharmaceuticals by 5.6% in the 4th quarter. Davidson Capital Management Inc. now owns 6,896 shares of the pharmaceutical company’s stock worth $2,777,000 after acquiring an additional 365 shares in the last quarter. 90.96% of the stock is 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.