Vertex Pharmaceuticals (NASDAQ:VRTX) Given New $420.00 Price Target at Royal Bank Of Canada

Vertex Pharmaceuticals (NASDAQ:VRTX) had its target price trimmed by Royal Bank Of Canada from $423.00 to $420.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has a sector perform rating on the pharmaceutical company’s stock.

A number of other analysts also recently issued reports on VRTX. Cantor Fitzgerald reissued an “overweight” rating and issued a $535.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. JPMorgan Chase & Co. increased their target price on shares of Vertex Pharmaceuticals from $512.00 to $515.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 6th. William Blair reiterated an “outperform” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Morgan Stanley upped their price target on shares of Vertex Pharmaceuticals from $462.00 to $464.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 6th. Finally, Wall Street Zen upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, March 11th. Fourteen analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $513.32.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX opened at $441.99 on Tuesday. The company has a market capitalization of $113.50 billion, a P/E ratio of -112.75 and a beta of 0.41. The company’s 50-day moving average is $461.30 and its 200 day moving average is $459.86. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 2.65. Vertex Pharmaceuticals has a fifty-two week low of $377.85 and a fifty-two week high of $519.88.

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

Hedge Funds Weigh In On Vertex Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the company. Brighton Jones LLC raised its stake in shares of Vertex Pharmaceuticals by 15.0% during the fourth quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company’s stock worth $1,783,000 after acquiring an additional 579 shares in the last quarter. Principal Securities Inc. raised its position in Vertex Pharmaceuticals by 27.1% in the 4th quarter. Principal Securities Inc. now owns 5,463 shares of the pharmaceutical company’s stock worth $2,200,000 after purchasing an additional 1,164 shares during the period. Allworth Financial LP lifted its stake in Vertex Pharmaceuticals by 5.6% in the fourth quarter. Allworth Financial LP now owns 1,741 shares of the pharmaceutical company’s stock worth $745,000 after purchasing an additional 92 shares during the last quarter. Sierra Ocean LLC purchased a new stake in Vertex Pharmaceuticals during the fourth quarter valued at about $60,000. Finally, Baillie Gifford & Co. grew its stake in shares of Vertex Pharmaceuticals by 6.6% during the fourth quarter. Baillie Gifford & Co. now owns 149,838 shares of the pharmaceutical company’s stock valued at $60,340,000 after buying an additional 9,258 shares during the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

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.