Barclays Forecasts Strong Price Appreciation for Vertex Pharmaceuticals (NASDAQ:VRTX) Stock

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price objective lifted by stock analysts at Barclays from $435.00 to $467.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the pharmaceutical company’s stock. Barclays‘s target price would suggest a potential upside of 1.30% from the company’s previous close.

Other analysts have also recently issued reports about the company. Wells Fargo & Company cut Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 price target on the stock. in a research report on Thursday, January 30th. Oppenheimer cut Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Morgan Stanley upped their price target on shares of Vertex Pharmaceuticals from $450.00 to $459.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Citigroup assumed coverage on shares of Vertex Pharmaceuticals in a research note on Thursday, November 14th. They set a “buy” rating and a $575.00 price objective for the company. Finally, William Blair reiterated an “outperform” rating on shares of Vertex Pharmaceuticals in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $504.63.

Vertex Pharmaceuticals Trading Down 1.9 %

VRTX traded down $8.97 during midday trading on Tuesday, reaching $461.00. 195,554 shares of the company’s stock traded hands, compared to its average volume of 1,538,702. 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 firm has a fifty day moving average of $435.95 and a two-hundred day moving average of $462.13. The stock has a market capitalization of $118.72 billion, a price-to-earnings ratio of -231.54, a P/E/G 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.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share 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%. On average, equities analysts anticipate that Vertex Pharmaceuticals will post -1.94 earnings per share for the current fiscal year.

Institutional Trading of Vertex Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. Sandy Spring Bank increased its holdings in shares of Vertex Pharmaceuticals by 313.5% in the 4th quarter. Sandy Spring Bank now owns 4,776 shares of the pharmaceutical company’s stock worth $1,923,000 after buying an additional 3,621 shares during the last quarter. Investment House LLC increased its position in Vertex Pharmaceuticals by 9.9% during the fourth quarter. Investment House LLC now owns 945 shares of the pharmaceutical company’s stock valued at $381,000 after acquiring an additional 85 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its stake in shares of Vertex Pharmaceuticals by 27.7% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 15,225 shares of the pharmaceutical company’s stock worth $6,080,000 after purchasing an additional 3,307 shares during the period. Vinva Investment Management Ltd grew its holdings in Vertex Pharmaceuticals by 43.8% during the 4th quarter. Vinva Investment Management Ltd now owns 3,512 shares of the pharmaceutical company’s stock valued at $1,403,000 after purchasing an additional 1,069 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd bought a new stake in Vertex Pharmaceuticals in the fourth quarter worth about $497,000. 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.