Vertex Pharmaceuticals’ (VRTX) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Vertex Pharmaceuticals (NASDAQ:VRTX) in a research note issued to investors on Friday,Benzinga reports. The firm currently has a $480.00 price target on the pharmaceutical company’s stock.

Several other equities analysts have also issued reports on the company. Citigroup started coverage on Vertex Pharmaceuticals in a research note on Thursday, November 14th. They set a “buy” rating and a $575.00 target price on the stock. Royal Bank of Canada upped their target price on shares of Vertex Pharmaceuticals from $437.00 to $451.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. decreased their price target on shares of Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. HC Wainwright lowered their target price on Vertex Pharmaceuticals from $600.00 to $535.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Finally, Morgan Stanley lifted their price objective on Vertex Pharmaceuticals from $473.00 to $476.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $494.84.

Vertex Pharmaceuticals Trading Down 0.0 %

Shares of VRTX stock opened at $439.62 on Friday. Vertex Pharmaceuticals has a twelve month low of $377.85 and a twelve month high of $519.88. The company’s 50-day moving average price is $435.88 and its 200-day moving average price is $464.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, topping the consensus estimate of $3.61 by $0.77. The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business posted $3.67 earnings per share. As a group, equities analysts expect that Vertex Pharmaceuticals will post -1.9 earnings per share for the current year.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in VRTX. Czech National Bank boosted its holdings in Vertex Pharmaceuticals by 6.2% in 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. bought a new stake in shares of Vertex Pharmaceuticals during the third quarter valued at approximately $662,000. Creative Planning lifted its position in Vertex Pharmaceuticals by 5.3% in the second quarter. Creative Planning now owns 79,117 shares of the pharmaceutical company’s stock worth $37,084,000 after purchasing an additional 3,998 shares during the period. Mizuho Securities USA LLC increased its holdings in Vertex Pharmaceuticals by 289.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 77,393 shares of the pharmaceutical company’s stock valued at $35,994,000 after buying an additional 57,497 shares during the period. Finally, Nordea Investment Management AB raised its stake in shares of Vertex Pharmaceuticals by 19.4% in the 4th quarter. Nordea Investment Management AB now owns 342,429 shares of the pharmaceutical company’s stock valued at $137,783,000 after buying an additional 55,739 shares in the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

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.