Vertex Pharmaceuticals (NASDAQ:VRTX) Given New $546.00 Price Target at UBS Group

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price target decreased by UBS Group from $553.00 to $546.00 in a research report released on Friday,Benzinga reports. UBS Group currently has a buy rating on the pharmaceutical company’s stock.

Other equities analysts have also issued reports about the company. Scotiabank decreased their target price on Vertex Pharmaceuticals from $442.00 to $438.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 5th. BMO Capital Markets set a $530.00 price objective on shares of Vertex Pharmaceuticals and gave the stock an “outperform” rating in a research report on Tuesday, August 5th. Truist Financial set a $490.00 target price on shares of Vertex Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, August 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a research report on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $489.10.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX traded down $6.78 on Friday, hitting $409.47. The stock had a trading volume of 1,357,622 shares, compared to its average volume of 1,616,600. The firm has a 50-day moving average of $404.55 and a 200-day moving average of $429.99. Vertex Pharmaceuticals has a 52-week low of $362.50 and a 52-week high of $519.88. The company has a market capitalization of $104.98 billion, a price-to-earnings ratio of 29.27 and a beta of 0.36.

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

Hedge Funds Weigh In On Vertex Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the business. Wealth Alliance LLC bought a new stake in Vertex Pharmaceuticals in the third quarter worth $493,000. Mcrae Capital Management Inc. increased its holdings in shares of Vertex Pharmaceuticals by 8.9% in the third quarter. Mcrae Capital Management Inc. now owns 33,159 shares of the pharmaceutical company’s stock worth $12,986,000 after buying an additional 2,706 shares during the period. Synovus Financial Corp lifted its stake in shares of Vertex Pharmaceuticals by 3.9% in the 3rd quarter. Synovus Financial Corp now owns 10,162 shares of the pharmaceutical company’s stock valued at $3,980,000 after acquiring an additional 385 shares during the last quarter. Grange Capital LLC bought a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter valued at about $1,392,000. Finally, Essex Financial Services Inc. boosted its holdings in Vertex Pharmaceuticals by 6.0% during the 3rd quarter. Essex Financial Services Inc. now owns 818 shares of the pharmaceutical company’s stock valued at $320,000 after acquiring an additional 46 shares during the period. Institutional investors 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.