Vertex Pharmaceuticals (NASDAQ:VRTX) Stock Rating Lowered by StockNews.com

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

Several other research firms have also issued reports on VRTX. Canaccord Genuity Group raised Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and upped their price target for the company from $408.00 to $424.00 in a research report on Tuesday, February 11th. HC Wainwright reissued a “buy” rating and set a $550.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Cantor Fitzgerald reissued an “overweight” rating and set a $480.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Wells Fargo & Company lowered Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 price target on the stock. in a research report on Thursday, January 30th. Finally, Morgan Stanley upped their price target on Vertex Pharmaceuticals from $450.00 to $459.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 11th. Eleven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $505.61.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX opened at $480.33 on Wednesday. The business’s 50 day moving average is $435.64 and its two-hundred day moving average is $460.65. Vertex Pharmaceuticals has a 52-week low of $377.85 and a 52-week high of $519.88. The firm has a market cap of $123.34 billion, a price-to-earnings ratio of -218.33, a PEG ratio of 2.03 and a beta of 0.41. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its 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 net margin of 4.86% and a negative return on equity of 2.02%. Analysts forecast that Vertex Pharmaceuticals will post 15.58 EPS for the current fiscal year.

Insider Activity

In related news, EVP Ourania Tatsis sold 310 shares of Vertex Pharmaceuticals stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $459.83, for a total transaction of $142,547.30. Following the transaction, the executive vice president now directly owns 64,021 shares of the company’s stock, valued at $29,438,776.43. The trade was a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of VRTX. Northwest Investment Counselors LLC acquired a new position in Vertex Pharmaceuticals during the third quarter worth about $25,000. Highline Wealth Partners LLC acquired a new position in Vertex Pharmaceuticals during the third quarter worth about $27,000. Dunhill Financial LLC grew its holdings in Vertex Pharmaceuticals by 70.6% during the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after acquiring an additional 24 shares during the period. Brown Lisle Cummings Inc. acquired a new position in Vertex Pharmaceuticals during the fourth quarter worth about $30,000. Finally, Legacy Investment Solutions LLC acquired a new position in Vertex Pharmaceuticals during the third quarter worth about $33,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Company Profile

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.