Vertex Pharmaceuticals (NASDAQ:VRTX) Given New $460.00 Price Target at Wells Fargo & Company

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price target lowered by Wells Fargo & Company from $555.00 to $460.00 in a research report released on Friday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the pharmaceutical company’s stock.

Other analysts have also recently issued reports about the company. 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. BMO Capital Markets lowered their price target on shares of Vertex Pharmaceuticals from $566.00 to $520.00 and set an “outperform” rating on the stock in a research note on Friday, December 20th. Scotiabank raised their price objective on shares of Vertex Pharmaceuticals from $426.00 to $430.00 and gave the company a “sector perform” rating in a research note on Monday, December 23rd. Cantor Fitzgerald restated an “overweight” rating and set a $480.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, November 5th. Finally, Truist Financial decreased their price target on Vertex Pharmaceuticals from $550.00 to $460.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. Three 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $490.38.

Vertex Pharmaceuticals Price Performance

Vertex Pharmaceuticals stock opened at $409.56 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20. The business has a 50 day simple moving average of $448.88 and a 200-day simple moving average of $468.03. Vertex Pharmaceuticals has a 12 month low of $377.85 and a 12 month high of $519.88. The stock has a market capitalization of $105.47 billion, a PE ratio of -205.81 and a beta of 0.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $2.69 billion. During the same quarter last year, the business earned $3.67 EPS. The business’s revenue was up 11.6% on a year-over-year basis. Equities analysts predict that Vertex Pharmaceuticals will post -1.83 earnings per share for the current year.

Institutional Trading of Vertex Pharmaceuticals

Several institutional investors have recently made changes to their positions in the stock. Northwest Investment Counselors LLC purchased a new stake in Vertex Pharmaceuticals during the third quarter valued at about $25,000. Dunhill Financial LLC lifted its stake 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 purchasing an additional 24 shares in the last quarter. Highline Wealth Partners LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter worth about $27,000. GHP Investment Advisors Inc. purchased a new position in Vertex Pharmaceuticals in the second quarter valued at approximately $29,000. Finally, Legacy Investment Solutions LLC acquired a new position in Vertex Pharmaceuticals during the third quarter valued at approximately $33,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

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.