Vertex Pharmaceuticals (NASDAQ:VRTX) Given New $460.00 Price Target at Morgan Stanley

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price objective lowered by Morgan Stanley from $464.00 to $460.00 in a research report released on Friday,Benzinga reports. The brokerage currently has an equal weight rating on the pharmaceutical company’s stock.

VRTX has been the subject of several other research reports. William Blair reissued an “outperform” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Leerink Partners reissued a “market perform” rating and issued a $503.00 price objective (down from $550.00) on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Wolfe Research lowered shares of Vertex Pharmaceuticals from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, May 7th. Finally, Royal Bank Of Canada set a $420.00 target price on shares of Vertex Pharmaceuticals and gave the company a “sector perform” rating in a research note on Tuesday. Fourteen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $513.14.

Vertex Pharmaceuticals Stock Down 1.7%

Shares of Vertex Pharmaceuticals stock opened at $440.87 on Friday. Vertex Pharmaceuticals has a 12-month low of $377.85 and a 12-month 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. The stock has a 50 day moving average price of $459.22 and a two-hundred day moving average price of $459.55. The stock has a market capitalization of $113.22 billion, a P/E ratio of -112.47 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.29 by ($0.23). The firm had revenue of $2.77 billion for 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%. Vertex Pharmaceuticals’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the company posted $4.76 earnings per share. Equities analysts expect that Vertex Pharmaceuticals will post 15.63 earnings per share for the current year.

Institutional Investors Weigh In On Vertex Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the company. Highview Capital Management LLC DE increased its holdings in shares of Vertex Pharmaceuticals by 1.8% during the fourth quarter. Highview Capital Management LLC DE now owns 5,771 shares of the pharmaceutical company’s stock worth $2,324,000 after buying an additional 102 shares in the last quarter. Jones Financial Companies Lllp grew its position in Vertex Pharmaceuticals by 75.5% during the 4th quarter. Jones Financial Companies Lllp now owns 2,468 shares of the pharmaceutical company’s stock worth $994,000 after acquiring an additional 1,062 shares during the last quarter. Aries Wealth Management acquired a new stake in Vertex Pharmaceuticals during the 1st quarter valued at $293,000. Polar Asset Management Partners Inc. acquired a new stake in Vertex Pharmaceuticals during the 4th quarter valued at $22,954,000. Finally, APG Asset Management N.V. raised its position in Vertex Pharmaceuticals by 189.7% in the 4th quarter. APG Asset Management N.V. now owns 359,285 shares of the pharmaceutical company’s stock valued at $139,724,000 after purchasing an additional 235,265 shares during the last quarter. Institutional investors and hedge funds 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.