Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Stock Has Average Target Price of $579.81 According to Brokerages

Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) have been given a consensus rating of “Moderate Buy” by the twenty-eight analysts that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $579.81.

Several equities research analysts recently commented on the stock. Barclays boosted their price objective on shares of Vertex Pharmaceuticals from $615.00 to $617.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. TD Cowen raised their target price on shares of Vertex Pharmaceuticals from $525.00 to $550.00 and gave the company a “buy” rating in a report on Wednesday, September 23rd. 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 report on Tuesday, August 11th. Jefferies Financial Group lifted their target price on shares of Vertex Pharmaceuticals from $633.00 to $640.00 and gave the stock a “buy” rating in a research report on Wednesday, September 23rd. Finally, Rothschild & Co Redburn lifted their target price on shares of Vertex Pharmaceuticals from $570.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th.

Vertex Pharmaceuticals Stock Performance

VRTX opened at $499.74 on Tuesday. The business’s fifty day moving average is $523.54 and its two-hundred day moving average is $480.55. The company has a market cap of $126.83 billion, a price-to-earnings ratio of 29.09, a PEG ratio of 2.40 and a beta of 0.28. Vertex Pharmaceuticals has a one year low of $403.16 and a one year high of $560.25.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share for the quarter, missing the consensus estimate of $4.74 by ($0.01). Vertex Pharmaceuticals had a net margin of 35.00% and a return on equity of 23.09%. The firm had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.23 billion. During the same period last year, the company posted $4.52 EPS. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. On average, analysts predict that Vertex Pharmaceuticals will post 16.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of VRTX. Summit Global Investments acquired a new stake in Vertex Pharmaceuticals during the 2nd quarter valued at approximately $3,568,000. Calamos Advisors LLC increased its holdings in Vertex Pharmaceuticals by 77.1% during the 1st 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 during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. increased its holdings in Vertex Pharmaceuticals by 11.9% during the 1st quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 34,991 shares of the pharmaceutical company’s stock worth $15,625,000 after purchasing an additional 3,710 shares during the last quarter. Danica Pension Livsforsikringsaktieselskab acquired a new position in shares of Vertex Pharmaceuticals in the 2nd quarter valued at approximately $13,823,000. Finally, UNIVEST FINANCIAL Corp acquired a new position in shares of Vertex Pharmaceuticals in the 2nd quarter valued at approximately $4,495,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated is a global biotechnology company focused on developing and commercializing medicines for serious diseases. Founded in 1989 and headquartered in Boston, Massachusetts, the company applies expertise in the science of human disease to discover therapies that address significant unmet medical needs.

Vertex is best known for its cystic fibrosis portfolio, which includes Kalydeco, Orkambi, Symdeko/Symkevi, and Trikafta/Kaftrio. These medicines target the underlying cause of cystic fibrosis for patients with specific mutations in the CFTR gene.