HC Wainwright Reiterates Buy Rating for Vertex Pharmaceuticals (NASDAQ:VRTX)

HC Wainwright reaffirmed their buy rating on shares of Vertex Pharmaceuticals (NASDAQ:VRTX) in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has a $550.00 target price on the pharmaceutical company’s stock.

Other equities analysts have also issued research reports about the company. Truist Financial lowered their price target on Vertex Pharmaceuticals from $550.00 to $460.00 and set a “buy” rating for the company in a research report on Monday, December 23rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $480.00 target price on shares of Vertex Pharmaceuticals in a research note on Friday, January 31st. UBS Group increased their price target on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Canaccord Genuity Group boosted their price objective on shares of Vertex Pharmaceuticals from $361.00 to $408.00 and gave the stock a “sell” rating in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. cut their target price on Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Ten investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $505.29.

Vertex Pharmaceuticals Trading Down 3.1 %

NASDAQ:VRTX opened at $455.22 on Tuesday. The firm has a market capitalization of $117.23 billion, a P/E ratio of -228.75, a PEG ratio of 1.80 and a beta of 0.41. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20. Vertex Pharmaceuticals has a one year low of $377.85 and a one year high of $519.88. The company’s 50-day simple moving average is $435.95 and its 200 day simple moving average is $462.13.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing the consensus estimate of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. As a group, analysts forecast that Vertex Pharmaceuticals will post -1.94 EPS for the current fiscal year.

Institutional Investors Weigh In On Vertex Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC purchased a new stake in shares of Vertex Pharmaceuticals in the third quarter worth $25,000. Highline Wealth Partners LLC purchased a new stake in Vertex Pharmaceuticals in the 3rd quarter worth $27,000. Dunhill Financial LLC raised its holdings in Vertex Pharmaceuticals by 70.6% during the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after acquiring an additional 24 shares during the period. Brown Lisle Cummings Inc. purchased a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at about $30,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of Vertex Pharmaceuticals in the third quarter worth about $33,000. Institutional investors own 90.96% of the company’s stock.

About Vertex Pharmaceuticals

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.