Vertex Pharmaceuticals (NASDAQ:VRTX) Given Buy Rating at HC Wainwright

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at HC Wainwright in a research note issued to investors on Monday,Benzinga reports. They presently have a $550.00 target price on the pharmaceutical company's stock. HC Wainwright's price target indicates a potential upside of 24.75% from the company's current price.

Several other research analysts also recently weighed in on the stock. Wall Street Zen raised shares of Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Tuesday, March 11th. Leerink Partnrs downgraded shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 6th. 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. JPMorgan Chase & Co. lifted their price target on Vertex Pharmaceuticals from $512.00 to $515.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Fourteen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $513.14.

Vertex Pharmaceuticals Trading Down 1.7%

Shares of VRTX stock opened at $440.87 on Monday. The stock has a 50-day simple moving average of $459.22 and a 200 day simple moving average of $459.51. The stock has a market capitalization of $113.22 billion, a P/E ratio of -112.47 and a beta of 0.42. Vertex Pharmaceuticals has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The company has a quick ratio of 2.29, a current ratio of 2.65 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 EPS for the quarter, missing analysts' consensus estimates of $4.29 by ($0.23). The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.85 billion. Vertex Pharmaceuticals had a negative return on equity of 3.36% and a negative net margin of 8.91%. The firm's revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.76 earnings per share. On average, sell-side analysts expect that Vertex Pharmaceuticals will post 15.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Activest Wealth Management bought a new position in Vertex Pharmaceuticals during the first quarter worth $25,000. Clal Insurance Enterprises Holdings Ltd grew its position in Vertex Pharmaceuticals by 450.0% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company's stock worth $27,000 after purchasing an additional 45 shares during the last quarter. Mascagni Wealth Management Inc. bought a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth about $31,000. Flaharty Asset Management LLC bought a new stake in shares of Vertex Pharmaceuticals in the first quarter valued at about $32,000. Finally, Truvestments Capital LLC lifted its stake in shares of Vertex Pharmaceuticals by 30.3% in the fourth quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock valued at $40,000 after buying an additional 23 shares during the period. 90.96% of the stock is currently owned by institutional investors and hedge funds.

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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