Vertex Pharmaceuticals (NASDAQ:VRTX) Earns Buy Rating from HC Wainwright

Vertex Pharmaceuticals (NASDAQ:VRTX)‘s stock had its “buy” rating restated by HC Wainwright in a note issued to investors on Tuesday,Benzinga reports. They presently have a $550.00 target price on the pharmaceutical company’s stock. HC Wainwright’s price objective would indicate a potential upside of 17.03% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Oppenheimer cut shares of Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. William Blair reiterated an “outperform” rating on shares of Vertex Pharmaceuticals in a research note on Friday, January 31st. Stifel Nicolaus boosted their target price on Vertex Pharmaceuticals from $490.00 to $494.00 and gave the stock a “hold” rating in a report on Monday, December 16th. Royal Bank of Canada raised their price target on Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a “sector perform” rating in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. reduced their price objective on Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. One analyst has rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $501.88.

Vertex Pharmaceuticals Stock Up 0.1 %

Shares of VRTX opened at $469.97 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 50-day moving average price of $435.87 and a two-hundred day moving average price of $462.29. The stock has a market cap of $121.03 billion, a price-to-earnings ratio of -236.17, a P/E/G ratio of 1.80 and a beta of 0.41. Vertex Pharmaceuticals has a 12 month low of $377.85 and a 12 month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 EPS for the quarter, missing the consensus estimate 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%. Equities analysts predict that Vertex Pharmaceuticals will post -1.94 EPS for the current fiscal year.

Hedge Funds Weigh In On Vertex Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VRTX. Mutual Advisors LLC raised its position in shares of Vertex Pharmaceuticals by 0.6% in the 3rd quarter. Mutual Advisors LLC now owns 3,710 shares of the pharmaceutical company’s stock valued at $1,751,000 after acquiring an additional 21 shares during the period. Grove Bank & Trust raised its holdings in Vertex Pharmaceuticals by 5.7% in the third quarter. Grove Bank & Trust now owns 410 shares of the pharmaceutical company’s stock worth $191,000 after purchasing an additional 22 shares during the period. Truvestments Capital LLC boosted its position in shares of Vertex Pharmaceuticals by 30.3% during the fourth quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company’s stock worth $40,000 after purchasing an additional 23 shares in the last quarter. Outlook Wealth Advisors LLC grew its holdings in shares of Vertex Pharmaceuticals by 2.8% in the 3rd quarter. Outlook Wealth Advisors LLC now owns 892 shares of the pharmaceutical company’s stock valued at $415,000 after buying an additional 24 shares during the period. Finally, Dunhill Financial LLC increased its position in shares of Vertex Pharmaceuticals by 70.6% in the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after buying an additional 24 shares in the last quarter. 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.