Fintel reports that on September 29, 2023, RBC Capital maintained coverage of Vertex Pharmaceuticals (NASDAQ:VRTX) with a Sector Perform recommendation.
Analyst Price Forecast Suggests 11.18% Upside
As of August 31, 2023, the average one-year price target for Vertex Pharmaceuticals is 391.92. The forecasts range from a low of 318.15 to a high of $478.80. The average price target represents an increase of 11.18% from its latest reported closing price of 352.50.
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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 2534 funds or institutions reporting positions in Vertex Pharmaceuticals. This is an increase of 29 owner(s) or 1.16% in the last quarter. Average portfolio weight of all funds dedicated to VRTX is 0.54%, a decrease of 1.71%. Total shares owned by institutions decreased in the last three months by 0.53% to 279,658K shares. 
The put/call ratio of VRTX is 0.83, indicating a bullish outlook.
What are Other Shareholders Doing?
Capital World Investors holds 17,341K shares representing 6.72% ownership of the company. In it's prior filing, the firm reported owning 16,144K shares, representing an increase of 6.90%. The firm increased its portfolio allocation in VRTX by 11.63% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 8,037K shares representing 3.11% ownership of the company. In it's prior filing, the firm reported owning 7,960K shares, representing an increase of 0.96%. The firm increased its portfolio allocation in VRTX by 4.05% over the last quarter.
Wellington Management Group Llp holds 7,553K shares representing 2.93% ownership of the company. In it's prior filing, the firm reported owning 7,518K shares, representing an increase of 0.47%. The firm increased its portfolio allocation in VRTX by 7.09% over the last quarter.
Alliancebernstein holds 7,535K shares representing 2.92% ownership of the company. In it's prior filing, the firm reported owning 8,373K shares, representing a decrease of 11.12%. The firm decreased its portfolio allocation in VRTX by 4.20% over the last quarter.
Price T Rowe Associates holds 6,759K shares representing 2.62% ownership of the company. In it's prior filing, the firm reported owning 6,590K shares, representing an increase of 2.49%. The firm increased its portfolio allocation in VRTX by 140.56% 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.
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