Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target Raised to $626.00

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price objective raised by Barclays from $617.00 to $626.00 in a research note released on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the pharmaceutical company’s stock.

Several other research analysts have also commented on VRTX. Rothschild & Co Redburn boosted their price objective on shares of Vertex Pharmaceuticals from $570.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Daiwa Securities Group raised their target price on shares of Vertex Pharmaceuticals from $555.00 to $556.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Royal Bank Of Canada lifted their price target on shares of Vertex Pharmaceuticals from $576.00 to $600.00 and gave the stock an “outperform” rating in a report on Tuesday. UBS Group upped their price target on Vertex Pharmaceuticals from $615.00 to $640.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. increased their price objective on Vertex Pharmaceuticals from $560.00 to $570.00 and gave the company an “overweight” rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $596.44.

Vertex Pharmaceuticals Stock Up 0.8%

Shares of NASDAQ VRTX traded up $4.59 during mid-day trading on Wednesday, reaching $547.09. 1,271,220 shares of the company were exchanged, compared to its average volume of 1,509,185. The stock has a market cap of $138.85 billion, a price-to-earnings ratio of 35.21, a P/E/G ratio of 2.65 and a beta of 0.28. Vertex Pharmaceuticals has a 1 year low of $406.67 and a 1 year high of $568.67. The firm has a 50-day moving average of $522.80 and a 200 day moving average of $481.95.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, November 2nd. The pharmaceutical company reported $4.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($0.06). The company had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $3.42 billion. Vertex Pharmaceuticals had a net margin of 30.70% and a return on equity of 22.40%. Vertex Pharmaceuticals’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter last year, the firm earned $4.80 EPS. On average, equities analysts forecast that Vertex Pharmaceuticals will post 16.47 earnings per share for the current year.

Hedge Funds Weigh In On Vertex Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Summit Global Investments purchased a new position in shares of Vertex Pharmaceuticals in the 2nd quarter valued at about $3,568,000. Calamos Advisors LLC boosted its position in Vertex Pharmaceuticals by 77.1% during the first quarter. Calamos Advisors LLC now owns 77,886 shares of the pharmaceutical company’s stock worth $34,779,000 after purchasing an additional 33,917 shares in the last quarter. Danica Pension Livsforsikringsaktieselskab purchased a new position in Vertex Pharmaceuticals during the second quarter worth approximately $13,823,000. UNIVEST FINANCIAL Corp acquired a new stake in Vertex Pharmaceuticals in the second quarter valued at approximately $4,495,000. Finally, Meeder Advisory Services Inc. purchased a new stake in shares of Vertex Pharmaceuticals in the second quarter valued at approximately $3,187,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals News Roundup

Here are the key news stories impacting Vertex Pharmaceuticals this week:

• Positive Sentiment: Several analysts reiterated bullish views or raised price targets, including Barclays, Maxim Group, TD Cowen, JPMorgan, Goldman Sachs and Stifel. These updates support the case for further share-price appreciation, though the articles do not provide the revised target figures. Read More. · Read More. · Read More. · Read More.
• Positive Sentiment: A long-term bullish outlook points to Vertex’s strong cystic fibrosis franchise and its gradual diversification into additional businesses as potential drivers of continued growth. A separate report says core business growth remains steady and diversification is beginning to contribute. Read More. · Read More.
• Neutral Sentiment: Vertex said management will participate in three upcoming investor conferences. The appearances may provide updates, but the announcement itself does not disclose new business or financial information. Read More.
• Negative Sentiment: A bearish analysis argues that costs are growing faster than sales and that Vertex may need another major growth driver to justify its valuation. This highlights execution and pipeline risks as investors assess whether diversification can sustain growth. Read More.
• Negative Sentiment: Not all analysts are more optimistic: Morgan Stanley lowered its expectations for the stock, providing a counterpoint to the recent target increases. Read More.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals is a biotechnology company headquartered in Boston, Massachusetts. Founded in 1989, it develops medicines for serious diseases, with a long-standing focus on cystic fibrosis (CF).

Vertex’s CF treatments include medicines that target the underlying protein defect, such as Trikafta/Kaftrio, Alyftrek, Kalydeco, Orkambi and Symdeko/Symkevi. The company also markets Journavx, a non-opioid medicine for acute pain, and partnered with CRISPR Therapeutics to develop Casgevy, a gene-editing treatment for sickle cell disease and transfusion-dependent beta thalassemia.

Vertex serves patients in the United States and international markets, including Europe.