Morgan Stanley Lowers Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target to $210.00

Vertex Pharmaceuticals (NASDAQ:VRTX) had its price target decreased by Morgan Stanley from $211.00 to $210.00 in a research report sent to investors on Wednesday, December 19th. Morgan Stanley currently has an overweight rating on the pharmaceutical company’s stock.

A number of other research firms also recently issued reports on VRTX. Cantor Fitzgerald began coverage on Vertex Pharmaceuticals in a research note on Monday, October 1st. They set an overweight rating and a $217.00 price target on the stock. Piper Jaffray Companies decreased their price target on Vertex Pharmaceuticals to $217.00 and set an overweight rating on the stock in a research note on Friday, October 26th. Argus lifted their price target on Vertex Pharmaceuticals to $200.00 and gave the company an average rating in a research note on Tuesday, August 28th. They noted that the move was a valuation call. Zacks Investment Research upgraded Vertex Pharmaceuticals from a hold rating to a buy rating and set a $208.00 price target on the stock in a research note on Monday, September 3rd. Finally, BidaskClub downgraded Vertex Pharmaceuticals from a buy rating to a hold rating in a research note on Friday, October 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty have issued a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $200.61.

VRTX stock traded down $4.25 during mid-day trading on Wednesday, reaching $183.91. The company had a trading volume of 1,884,100 shares, compared to its average volume of 1,819,115. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.71 and a quick ratio of 3.59. The firm has a market capitalization of $46.59 billion, a P/E ratio of 229.89, a P/E/G ratio of 1.38 and a beta of 1.54. Vertex Pharmaceuticals has a fifty-two week low of $144.07 and a fifty-two week high of $194.92.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Wednesday, October 24th. The pharmaceutical company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.07. The business had revenue of $784.54 million for the quarter, compared to analyst estimates of $782.95 million. Vertex Pharmaceuticals had a return on equity of 22.92% and a net margin of 22.87%. During the same quarter last year, the company earned $0.53 EPS. On average, analysts expect that Vertex Pharmaceuticals will post 2.55 EPS for the current year.

In other Vertex Pharmaceuticals news, SVP Paul M. Silva sold 809 shares of the business’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $186.52, for a total transaction of $150,894.68. Following the completion of the sale, the senior vice president now owns 16,896 shares of the company’s stock, valued at $3,151,441.92. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Michael Parini sold 4,250 shares of the business’s stock in a transaction dated Friday, January 4th. The shares were sold at an average price of $165.90, for a total value of $705,075.00. Following the sale, the executive vice president now directly owns 43,859 shares of the company’s stock, valued at approximately $7,276,208.10. The disclosure for this sale can be found here. Insiders sold 13,577 shares of company stock valued at $2,354,629 over the last quarter. Insiders own 0.75% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of VRTX. Sun Life Financial INC lifted its stake in shares of Vertex Pharmaceuticals by 266.1% in the second quarter. Sun Life Financial INC now owns 692 shares of the pharmaceutical company’s stock worth $118,000 after acquiring an additional 503 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new position in shares of Vertex Pharmaceuticals in the third quarter worth about $123,000. Flagship Harbor Advisors LLC acquired a new position in shares of Vertex Pharmaceuticals in the second quarter worth about $125,000. TRUE Private Wealth Advisors acquired a new position in shares of Vertex Pharmaceuticals in the third quarter worth about $169,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in Vertex Pharmaceuticals during the third quarter valued at approximately $170,000. 93.59% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, develops medicines for serious diseases. The company focuses on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs. It markets ORKAMBI (lumacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are homozygous for the F508del mutation in their cystic fibrosis transmembrane conductance regulator (CFTR) gene; KALYDECO (ivacaftor) for the treatment of patients with CF who have specific mutations in their CFTR gene, including the G551D mutation; and SYMDEKO (tezacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are F508del homozygous or who have 1 mutation that is responsive to tezacaftor/ivacaftor.

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Analyst Recommendations for Vertex Pharmaceuticals (NASDAQ:VRTX)

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