Vertex Pharmaceuticals (NASDAQ:VRTX) Research Coverage Started at Scotiabank

Scotiabank started coverage on shares of Vertex Pharmaceuticals (NASDAQ:VRTX) in a research note issued to investors on Thursday, MarketBeat Ratings reports. The firm issued a sector outperform rating and a $495.00 price target on the pharmaceutical company’s stock.

A number of other equities research analysts have also recently weighed in on VRTX. Royal Bank Of Canada lowered their price target on Vertex Pharmaceuticals from $423.00 to $415.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 4th. Wall Street Zen lowered shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 22nd. JPMorgan Chase & Co. raised their price objective on Vertex Pharmaceuticals from $517.00 to $530.00 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. Morgan Stanley reduced their target price on shares of Vertex Pharmaceuticals from $439.00 to $438.00 and set an “equal weight” rating on the stock in a report on Friday, October 10th. Finally, Evercore ISI decreased their price target on Vertex Pharmaceuticals from $510.00 to $475.00 and set an “outperform” rating for the company in a report on Thursday, September 11th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $491.95.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $437.15 on Thursday. The business has a 50-day moving average of $408.04 and a two-hundred day moving average of $427.31. Vertex Pharmaceuticals has a 1 year low of $362.50 and a 1 year high of $519.68. The company has a market capitalization of $110.91 billion, a price-to-earnings ratio of 31.25 and a beta of 0.36.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.58 by $0.22. The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The business’s revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the firm earned $4.38 EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Vertex Pharmaceuticals will post 15.63 earnings per share for the current year.

Hedge Funds Weigh In On Vertex Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Activest Wealth Management acquired a new stake in shares of Vertex Pharmaceuticals in the 1st quarter valued at $25,000. Clal Insurance Enterprises Holdings Ltd raised its stake in Vertex Pharmaceuticals by 450.0% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company’s stock worth $27,000 after buying an additional 45 shares during the period. Access Investment Management LLC acquired a new stake in shares of Vertex Pharmaceuticals during the second quarter worth about $27,000. Chesapeake Asset Management LLC lifted its stake in Vertex Pharmaceuticals by 110.0% in the third quarter. Chesapeake Asset Management LLC now owns 63 shares of the pharmaceutical company’s stock valued at $25,000 after buying an additional 33 shares in the last quarter. Finally, Flaharty Asset Management LLC acquired a new position in Vertex Pharmaceuticals in the 1st quarter worth $32,000. 90.96% of the stock is owned by institutional investors and hedge funds.

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.