Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target Raised to $459.00 at Morgan Stanley

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price target increased by Morgan Stanley from $450.00 to $459.00 in a research note published on Tuesday,Benzinga reports. The brokerage currently has an equal weight rating on the pharmaceutical company’s stock.

A number of other brokerages also recently commented on VRTX. HC Wainwright reissued a “buy” rating and issued a $550.00 price objective on shares of Vertex Pharmaceuticals in a research note on Tuesday. UBS Group upped their price objective on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, January 31st. Truist Financial decreased their price target on shares of Vertex Pharmaceuticals from $550.00 to $460.00 and set a “buy” rating for the company in a research report on Monday, December 23rd. Finally, Stifel Nicolaus boosted their price objective on shares of Vertex Pharmaceuticals from $490.00 to $494.00 and gave the stock a “hold” rating in a research note on Monday, December 16th. Ten analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $505.29.

Vertex Pharmaceuticals Trading Down 3.1 %

Shares of NASDAQ VRTX opened at $455.22 on Tuesday. Vertex Pharmaceuticals has a twelve month low of $377.85 and a twelve month high of $519.88. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $435.95 and a two-hundred day simple moving average of $462.13. The firm has a market cap of $117.23 billion, a PE ratio of -228.75, a price-to-earnings-growth ratio of 1.80 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing analysts’ consensus estimates 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%. Analysts expect that Vertex Pharmaceuticals will post -1.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. TIAA Trust National Association grew its holdings in Vertex Pharmaceuticals by 2.3% during the fourth quarter. TIAA Trust National Association now owns 5,763 shares of the pharmaceutical company’s stock worth $2,321,000 after acquiring an additional 131 shares during the period. Ashton Thomas Securities LLC increased its holdings in shares of Vertex Pharmaceuticals by 1.7% during the 4th quarter. Ashton Thomas Securities LLC now owns 3,244 shares of the pharmaceutical company’s stock valued at $1,306,000 after purchasing an additional 55 shares in the last quarter. Princeton Capital Management LLC lifted its stake in shares of Vertex Pharmaceuticals by 0.4% in the 4th quarter. Princeton Capital Management LLC now owns 15,174 shares of the pharmaceutical company’s stock valued at $6,111,000 after purchasing an additional 64 shares during the period. EFG Asset Management North America Corp. boosted its holdings in Vertex Pharmaceuticals by 49.0% during the fourth quarter. EFG Asset Management North America Corp. now owns 12,055 shares of the pharmaceutical company’s stock worth $4,856,000 after buying an additional 3,964 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Vertex Pharmaceuticals by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 23,258,288 shares of the pharmaceutical company’s stock valued at $9,366,113,000 after buying an additional 98,654 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.