Fintel reports that on August 2, 2023, Barclays maintained coverage of Vertex Pharmaceuticals (NASDAQ:VRTX) with a Overweight recommendation.
Analyst Price Forecast Suggests 8.66% Upside
As of July 5, 2023, the average one-year price target for Vertex Pharmaceuticals is 382.85. The forecasts range from a low of 315.12 to a high of $478.80. The average price target represents an increase of 8.66% from its latest reported closing price of 352.34.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Vertex Pharmaceuticals is 9,756MM, an increase of 2.64%. The projected annual non-GAAP EPS is 16.14.
What is the Fund Sentiment?
There are 2507 funds or institutions reporting positions in Vertex Pharmaceuticals. This is an increase of 12 owner(s) or 0.48% in the last quarter. Average portfolio weight of all funds dedicated to VRTX is 0.55%, an increase of 1.18%. Total shares owned by institutions increased in the last three months by 0.92% to 281,657K shares. 
The put/call ratio of VRTX is 0.86, indicating a bullish outlook.
What are Other Shareholders Doing?
Capital World Investors holds 16,144K shares representing 6.27% ownership of the company. In it's prior filing, the firm reported owning 12,769K shares, representing an increase of 20.91%. The firm increased its portfolio allocation in VRTX by 33.76% over the last quarter.
Alliancebernstein holds 8,373K shares representing 3.25% ownership of the company. In it's prior filing, the firm reported owning 9,070K shares, representing a decrease of 8.32%. The firm decreased its portfolio allocation in VRTX by 18.84% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 7,960K shares representing 3.09% ownership of the company. In it's prior filing, the firm reported owning 7,803K shares, representing an increase of 1.97%. The firm increased its portfolio allocation in VRTX by 2.77% over the last quarter.
Wellington Management Group Llp holds 7,518K shares representing 2.92% ownership of the company. In it's prior filing, the firm reported owning 6,828K shares, representing an increase of 9.18%. The firm decreased its portfolio allocation in VRTX by 83.24% over the last quarter.
Price T Rowe Associates holds 6,590K shares representing 2.56% ownership of the company. In it's prior filing, the firm reported owning 4,698K shares, representing an increase of 28.72%. The firm increased its portfolio allocation in VRTX by 42.44% over the last quarter.
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.
Additional reading:
- Vertex Reports Second Quarter 2023 Financial Results — Product revenue of $2.49 billion, a 14% increase compared to Q2 2022 — — Company raises full year 2023 product revenue guidance to $9.7 to $9.8 billion — — FDA has accepted the exa-cel BLAs in bo
- Vertex Reports First Quarter 2023 Financial Results — Product revenue of $2.37 billion, a 13% increase compared to Q1 2022 — — Company reiterates full year 2023 financial guidance, including product revenue guidance of $9.55 to $9.7 billion — — TRIKA
- Amendment No. 2 to Employment Agreement, between Jeffrey M. Leiden and Vertex Pharmaceuticals Incorporated, dated as of February
- Vertex Pharmaceuticals Employee Compensation Plan.*
- Subsidiaries of Vertex Pharmaceuticals Incorporated.
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.
