Truist Financial Issues Positive Forecast for Vertex Pharmaceuticals (NASDAQ:VRTX) Stock Price

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price target boosted by equities researchers at Truist Financial from $460.00 to $520.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the pharmaceutical company’s stock. Truist Financial’s target price indicates a potential upside of 13.05% from the company’s current price.

VRTX has been the topic of several other research reports. Citigroup initiated coverage on Vertex Pharmaceuticals in a research note on Thursday, November 14th. They set a “buy” rating and a $575.00 price target on the stock. William Blair reiterated an “outperform” rating on shares of Vertex Pharmaceuticals in a report on Friday, January 31st. StockNews.com downgraded Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 21st. Piper Sandler dropped their price objective on Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Finally, Barclays upped their price objective on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the company an “equal weight” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, nine have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $505.29.

Vertex Pharmaceuticals Trading Down 2.1 %

Shares of VRTX traded down $10.01 during trading hours on Tuesday, hitting $459.97. 782,039 shares of the stock traded hands, compared to its average volume of 1,564,042. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals has a 1-year low of $377.85 and a 1-year high of $519.88. The firm has a market capitalization of $118.45 billion, a PE ratio of -231.15, a price-to-earnings-growth ratio of 1.80 and a beta of 0.41. The business has a fifty day moving average of $435.95 and a 200-day moving average of $462.13.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Czech National Bank increased its holdings in Vertex Pharmaceuticals by 6.2% during the 4th quarter. Czech National Bank now owns 55,838 shares of the pharmaceutical company’s stock valued at $22,486,000 after purchasing an additional 3,260 shares during the period. Whalen Wealth Management Inc. purchased a new position in Vertex Pharmaceuticals during the 3rd quarter valued at about $662,000. Concord Wealth Partners increased its holdings in Vertex Pharmaceuticals by 32.6% during the 4th quarter. Concord Wealth Partners now owns 3,508 shares of the pharmaceutical company’s stock valued at $1,413,000 after purchasing an additional 862 shares during the period. Mizuho Securities USA LLC increased its holdings in Vertex Pharmaceuticals by 289.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 77,393 shares of the pharmaceutical company’s stock valued at $35,994,000 after purchasing an additional 57,497 shares during the period. Finally, Nordea Investment Management AB increased its holdings in Vertex Pharmaceuticals by 19.4% during the 4th quarter. Nordea Investment Management AB now owns 342,429 shares of the pharmaceutical company’s stock valued at $137,783,000 after purchasing an additional 55,739 shares during the period. Hedge funds and other 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.