On March 21, 2023, Bernstein initiated coverage of Vertex Pharmaceuticals with a Outperform recommendation.
Analyst Price Forecast Suggests 12.14% Upside
As of March 20, 2023, the average one-year price target for Vertex Pharmaceuticals is $339.40. The forecasts range from a low of $282.80 to a high of $462.00. The average price target represents an increase of 12.14% from its latest reported closing price of $302.66.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Vertex Pharmaceuticals is $9,756MM, an increase of 9.24%. The projected annual non-GAAP EPS is $16.14.
What are Large Shareholders Doing?
Capital World Investors holds 12,769K shares representing 4.97% ownership of the company. In it's prior filing, the firm reported owning 12,525K shares, representing an increase of 1.91%. The firm decreased its portfolio allocation in VRTX by 3.46% over the last quarter.
Alliancebernstein holds 9,070K shares representing 3.53% ownership of the company. In it's prior filing, the firm reported owning 9,146K shares, representing a decrease of 0.84%. The firm decreased its portfolio allocation in VRTX by 21.42% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 7,803K shares representing 3.04% ownership of the company. In it's prior filing, the firm reported owning 7,648K shares, representing an increase of 1.99%. The firm decreased its portfolio allocation in VRTX by 6.03% over the last quarter.
Wellington Management Group Llp holds 6,828K shares representing 2.66% ownership of the company. In it's prior filing, the firm reported owning 8,029K shares, representing a decrease of 17.60%. The firm decreased its portfolio allocation in VRTX by 99.99% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 5,934K shares representing 2.31% ownership of the company. In it's prior filing, the firm reported owning 5,814K shares, representing an increase of 2.03%. The firm decreased its portfolio allocation in VRTX by 6.21% over the last quarter.
What is the Fund Sentiment?
There are 2473 funds or institutions reporting positions in Vertex Pharmaceuticals. This is an increase of 136 owner(s) or 5.82% in the last quarter. Average portfolio weight of all funds dedicated to VRTX is 0.54%, a decrease of 6.08%. Total shares owned by institutions increased in the last three months by 0.33% to 279,843K shares. The put/call ratio of VRTX is 0.87, indicating a bullish outlook.
Vertex Pharmaceuticals Background Information
(This description is provided by the company.)
Vertex is a global biotechnology company that invests in scientific innovation to create transformative medicines for people with serious diseases. The company has multiple approved medicines that treat the underlying cause of cystic fibrosis (CF) - a rare, life-threatening genetic disease - and has several ongoing clinical and research programs in CF. Beyond CF, Vertex has a robust pipeline of investigational small molecule medicines in other serious diseases where it has deep insight into causal human biology, including pain, alpha-1 antitrypsin deficiency and APOL1-mediated kidney diseases. In addition, Vertex has a rapidly expanding pipeline of cell and genetic therapies for diseases such as sickle cell disease, beta thalassemia, Duchenne muscular dystrophy and type 1 diabetes mellitus.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
