Vertex Pharmaceuticals (NASDAQ:VRTX) Upgraded by Canaccord Genuity Group to Hold Rating

Vertex Pharmaceuticals (NASDAQ:VRTX) was upgraded by investment analysts at Canaccord Genuity Group from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports.

A number of other research analysts have also weighed in on the company. Scotiabank raised their price objective on Vertex Pharmaceuticals from $433.00 to $450.00 and gave the company a “sector perform” rating in a report on Tuesday. StockNews.com lowered Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 21st. Royal Bank of Canada lifted their price target on Vertex Pharmaceuticals from $402.00 to $407.00 and gave the stock a “sector perform” rating in a report on Tuesday. Citigroup initiated coverage on Vertex Pharmaceuticals in a research report on Thursday, November 14th. They issued a “buy” rating and a $575.00 target price for the company. Finally, Morgan Stanley boosted their price objective on Vertex Pharmaceuticals from $450.00 to $459.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Ten research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $505.29.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX traded down $11.50 during trading hours on Tuesday, reaching $458.47. The stock had a trading volume of 905,706 shares, compared to its average volume of 1,567,896. The stock has a fifty day moving average of $435.95 and a 200 day moving average of $462.13. The stock has a market cap of $118.07 billion, a P/E ratio of -230.31, a price-to-earnings-growth ratio of 1.80 and a beta of 0.41. Vertex Pharmaceuticals has a 52-week low of $377.85 and a 52-week high of $519.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data 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 return on equity of 1.91% and a negative net margin of 4.52%. Sell-side analysts predict that Vertex Pharmaceuticals will post -1.94 earnings per share for the current year.

Hedge Funds Weigh In On Vertex Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the business. Northwest Investment Counselors LLC acquired a new stake in shares of Vertex Pharmaceuticals in the third quarter valued at about $25,000. Highline Wealth Partners LLC acquired a new stake in shares of Vertex Pharmaceuticals in the third quarter valued at about $27,000. Dunhill Financial LLC grew its stake in shares of Vertex Pharmaceuticals by 70.6% in the third 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. Brown Lisle Cummings Inc. acquired a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at about $30,000. Finally, Legacy Investment Solutions LLC acquired a new stake in Vertex Pharmaceuticals during the 3rd quarter valued at approximately $33,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

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.