Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target Raised to $494.00 at Stifel Nicolaus

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price target lifted by equities research analysts at Stifel Nicolaus from $490.00 to $494.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “hold” rating on the pharmaceutical company’s stock. Stifel Nicolaus’ price target points to a potential upside of 6.53% from the company’s current price.

Several other analysts have also commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $480.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, November 5th. Bank of America lowered their target price on shares of Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Jefferies Financial Group raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and increased their price target for the stock from $500.00 to $550.00 in a report on Monday, December 9th. Raymond James restated a “market perform” rating on shares of Vertex Pharmaceuticals in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $505.73.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $463.73 on Monday. 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 $119.42 billion, a PE ratio of -233.03 and a beta of 0.36. The stock’s 50 day moving average price is $473.50 and its 200-day moving average price is $476.29. Vertex Pharmaceuticals has a twelve month low of $391.01 and a twelve month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.61 by $0.77. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter in the prior year, the company earned $3.67 EPS. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, equities analysts anticipate that Vertex Pharmaceuticals will post -1.83 EPS for the current year.

Hedge Funds Weigh In On Vertex Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the company. Edgewood Management LLC raised its stake in shares of Vertex Pharmaceuticals by 7,876.3% in the third quarter. Edgewood Management LLC now owns 1,546,370 shares of the pharmaceutical company’s stock worth $719,186,000 after purchasing an additional 1,526,983 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Vertex Pharmaceuticals by 18.1% during the 3rd quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company’s stock valued at $2,581,373,000 after purchasing an additional 851,054 shares during the period. Wellington Management Group LLP increased its position in shares of Vertex Pharmaceuticals by 17.2% during the 3rd quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company’s stock valued at $2,231,858,000 after purchasing an additional 704,421 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Vertex Pharmaceuticals by 74,015.5% in the 3rd quarter. International Assets Investment Management LLC now owns 324,626 shares of the pharmaceutical company’s stock worth $150,977,000 after purchasing an additional 324,188 shares during the period. Finally, AustralianSuper Pty Ltd bought a new stake in Vertex Pharmaceuticals during the third quarter valued at approximately $105,282,000. Institutional investors 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.