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

Vertex Pharmaceuticals (NASDAQ:VRTX) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Wednesday.

Other equities research analysts also recently issued research reports about the stock. Royal Bank of Canada boosted their price objective on shares of Vertex Pharmaceuticals from $402.00 to $407.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. BMO Capital Markets decreased their target price on shares of Vertex Pharmaceuticals from $566.00 to $520.00 and set an “outperform” rating for the company in a research report on Friday, December 20th. Bank of America cut their price target on Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Canaccord Genuity Group raised Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and increased their price objective for the stock from $408.00 to $424.00 in a report on Tuesday, February 11th. Finally, Jefferies Financial Group raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and lifted their target price for the company from $500.00 to $550.00 in a research note on Monday, December 9th. Eleven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $505.57.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ:VRTX traded up $9.65 during trading on Wednesday, reaching $471.76. 1,454,541 shares of the company’s stock traded hands, compared to its average volume of 1,543,211. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35. Vertex Pharmaceuticals has a 12 month low of $377.85 and a 12 month high of $519.88. The company has a 50 day moving average of $435.25 and a 200-day moving average of $460.44. The stock has a market capitalization of $121.14 billion, a P/E ratio of -214.44, a price-to-earnings-growth ratio of 2.02 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. On average, equities analysts expect that Vertex Pharmaceuticals will post 15.58 EPS for the current year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 244 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total transaction of $111,034.64. Following the completion of the sale, the executive vice president now directly owns 67,695 shares of the company’s stock, valued at approximately $30,805,286.70. This represents a 0.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Several hedge funds have recently made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new stake in Vertex Pharmaceuticals during the 3rd quarter valued at $25,000. Highline Wealth Partners LLC acquired a new position in Vertex Pharmaceuticals during the third quarter valued at $27,000. Dunhill Financial LLC lifted 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 worth $27,000 after acquiring an additional 24 shares in the last quarter. Brown Lisle Cummings Inc. acquired a new stake in Vertex Pharmaceuticals during the 4th quarter worth about $30,000. Finally, Legacy Investment Solutions LLC purchased a new position in Vertex Pharmaceuticals during the 3rd quarter valued at about $33,000. Hedge funds and other institutional investors 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.