Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Given Average Recommendation of "Moderate Buy" by Brokerages

Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Get Free Report) have received an average rating of "Moderate Buy" from the twenty-nine research firms that are currently covering the company, MarketBeat reports. Fourteen analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $513.14.

Several research firms have recently commented on VRTX. HC Wainwright restated a "buy" rating and issued a $550.00 target price on shares of Vertex Pharmaceuticals in a research note on Monday. Cantor Fitzgerald reissued an "overweight" rating and set a $535.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Wall Street Zen raised Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Tuesday, March 11th. Leerink Partners reiterated a "market perform" rating and set a $503.00 target price (down previously from $550.00) on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Finally, Royal Bank Of Canada set a $420.00 target price on Vertex Pharmaceuticals and gave the company a "sector perform" rating in a report on Tuesday, June 17th.

Vertex Pharmaceuticals Stock Up 1.5%

VRTX opened at $450.27 on Wednesday. Vertex Pharmaceuticals has a 52 week low of $377.85 and a 52 week high of $519.88. The business has a 50 day moving average price of $457.17 and a two-hundred day moving average price of $459.32. The company has a quick ratio of 2.29, a current ratio of 2.65 and a debt-to-equity ratio of 0.01. The company has a market cap of $115.63 billion, a PE ratio of -114.86 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 EPS for the quarter, missing the consensus estimate of $4.29 by ($0.23). Vertex Pharmaceuticals had a negative return on equity of 3.36% and a negative net margin of 8.91%. The company had revenue of $2.77 billion for the quarter, compared to analysts' expectations of $2.85 billion. During the same quarter last year, the company earned $4.76 EPS. Vertex Pharmaceuticals's revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, research analysts anticipate that Vertex Pharmaceuticals will post 15.63 EPS for the current year.

Hedge Funds Weigh In On Vertex Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Brighton Jones LLC boosted its holdings in Vertex Pharmaceuticals by 15.0% in the fourth quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company's stock valued at $1,783,000 after purchasing an additional 579 shares during the last quarter. First Horizon Advisors Inc. boosted its position in Vertex Pharmaceuticals by 1.7% during the 4th quarter. First Horizon Advisors Inc. now owns 2,199 shares of the pharmaceutical company's stock valued at $886,000 after purchasing an additional 36 shares during the period. World Equity Group Inc. bought a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth about $234,000. Union Bancaire Privee UBP SA bought a new position in Vertex Pharmaceuticals in the 4th quarter worth about $56,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Vertex Pharmaceuticals in the 4th quarter valued at approximately $2,169,000. Hedge funds and other institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Company Profile

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.

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