Vertex Pharmaceuticals (NASDAQ:VRTX) Sets New 1-Year Low Following Analyst Downgrade

by · The Markets Daily

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Get Free Report) reached a new 52-week low on Thursday after Barclays lowered their price target on the stock from $509.00 to $418.00. Barclays currently has an equal weight rating on the stock. Vertex Pharmaceuticals traded as low as $377.85 and last traded at $396.87, with a volume of 2044282 shares changing hands. The stock had previously closed at $447.50.

VRTX has been the topic of a number of other reports. Scotiabank lifted their price objective on Vertex Pharmaceuticals from $480.00 to $486.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 5th. Bank of America reduced their price objective on shares of Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating on the stock in a research note on Thursday. Stifel Nicolaus lifted their target price on shares of Vertex Pharmaceuticals from $490.00 to $494.00 and gave the stock a “hold” rating in a research note on Monday, December 16th. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $480.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, November 5th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $499.77.

View Our Latest Stock Report on Vertex Pharmaceuticals

Hedge Funds Weigh In On Vertex Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of VRTX. Northwest Investment Counselors LLC bought a new stake in Vertex Pharmaceuticals during the third quarter worth $25,000. Highline Wealth Partners LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter valued at $27,000. Dunhill Financial LLC raised its stake in shares of Vertex Pharmaceuticals by 70.6% during the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 24 shares during the period. GHP Investment Advisors Inc. purchased a new position in shares of Vertex Pharmaceuticals in the 2nd quarter worth about $29,000. Finally, Stephens Consulting LLC bought a new position in Vertex Pharmaceuticals during the second quarter valued at about $31,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

The firm has a market cap of $102.31 billion, a PE ratio of -199.63 and a beta of 0.36. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20. The business’s fifty day moving average is $470.41 and its 200-day moving average is $475.30.

Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, topping analysts’ consensus estimates of $3.61 by $0.77. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The company had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.69 billion. During the same quarter in the previous year, the firm posted $3.67 EPS. Vertex Pharmaceuticals’s revenue was up 11.6% on a year-over-year basis. On average, research analysts predict that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share for the current fiscal year.

About Vertex Pharmaceuticals

(Get Free Report)

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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