Vertex Pharmaceuticals (NASDAQ:VRTX) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of Vertex Pharmaceuticals (NASDAQ:VRTX) from a buy rating to a hold rating in a research report released on Wednesday.

VRTX has been the subject of several other research reports. Royal Bank of Canada raised their price target on Vertex Pharmaceuticals from $402.00 to $407.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. Barclays boosted their target price on shares of Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 11th. Citigroup started coverage on shares of Vertex Pharmaceuticals in a report on Thursday, November 14th. They issued a “buy” rating and a $575.00 price target for the company. Canaccord Genuity Group raised shares of Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and boosted their price objective for the company from $408.00 to $424.00 in a report on Tuesday, February 11th. Finally, Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Eleven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $505.57.

Vertex Pharmaceuticals Trading Up 2.1 %

NASDAQ VRTX opened at $471.76 on Wednesday. Vertex Pharmaceuticals has a 52 week low of $377.85 and a 52 week high of $519.88. The company has a 50 day moving average price of $435.32 and a 200 day moving average price of $460.52. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01. The firm has a market cap of $121.14 billion, a PE ratio of -214.44, a price-to-earnings-growth ratio of 2.02 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. As a group, sell-side analysts forecast that Vertex Pharmaceuticals will post 15.58 EPS for the current fiscal year.

Insider Activity

In related news, EVP Ourania Tatsis sold 244 shares of Vertex Pharmaceuticals stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total value of $111,034.64. Following the sale, the executive vice president now owns 67,695 shares of the company’s stock, valued at approximately $30,805,286.70. This trade represents a 0.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

Institutional Trading of Vertex Pharmaceuticals

Institutional investors have recently modified their holdings of the stock. Mutual Advisors LLC boosted its holdings in Vertex Pharmaceuticals by 0.6% in the 3rd quarter. Mutual Advisors LLC now owns 3,710 shares of the pharmaceutical company’s stock worth $1,751,000 after buying an additional 21 shares during the last quarter. Truvestments Capital LLC boosted its stake in shares of Vertex Pharmaceuticals by 30.3% in the fourth quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company’s stock worth $40,000 after acquiring an additional 23 shares during the last quarter. Outlook Wealth Advisors LLC increased its position in shares of Vertex Pharmaceuticals by 2.8% during the third quarter. Outlook Wealth Advisors LLC now owns 892 shares of the pharmaceutical company’s stock worth $415,000 after purchasing an additional 24 shares in the last quarter. Dunhill Financial LLC raised its stake in Vertex Pharmaceuticals by 70.6% in the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 24 shares during the last quarter. Finally, Simon Quick Advisors LLC lifted its holdings in Vertex Pharmaceuticals by 1.1% in the 4th quarter. Simon Quick Advisors LLC now owns 2,236 shares of the pharmaceutical company’s stock valued at $900,000 after purchasing an additional 24 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

About Vertex Pharmaceuticals

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.