Vertex Pharmaceuticals Incorporated (VRTX) Downgraded by Vetr Inc. to Sell
Vetr downgraded shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) to a sell rating in a research note published on Thursday.
A number of other research analysts have also issued reports on the company. Needham & Company LLC reaffirmed a buy rating and set a $195.00 target price on shares of Vertex Pharmaceuticals in a report on Sunday, September 17th. Royal Bank Of Canada assumed coverage on Vertex Pharmaceuticals in a report on Thursday, September 14th. They set an outperform rating and a $175.00 target price on the stock. Jefferies Group LLC reaffirmed a buy rating on shares of Vertex Pharmaceuticals in a report on Tuesday, August 22nd. BidaskClub lowered Vertex Pharmaceuticals from a buy rating to a hold rating in a report on Saturday, August 19th. Finally, Zacks Investment Research lowered Vertex Pharmaceuticals from a buy rating to a hold rating in a report on Friday, August 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $163.35.
Shares of Vertex Pharmaceuticals (NASDAQ VRTX) traded down 0.39% during midday trading on Thursday, reaching $151.46. 898,589 shares of the company were exchanged. The company has a market capitalization of $38.19 billion, a PE ratio of 145.49 and a beta of 1.75. The firm’s 50 day moving average is $154.59 and its 200-day moving average is $128.57. Vertex Pharmaceuticals has a 52-week low of $71.46 and a 52-week high of $167.85.
Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.33. The firm had revenue of $544.10 million for the quarter, compared to analyst estimates of $489.95 million. Vertex Pharmaceuticals had a return on equity of 4.64% and a net margin of 12.05%. Vertex Pharmaceuticals’s revenue was up 26.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.24 earnings per share. On average, equities analysts forecast that Vertex Pharmaceuticals will post $1.62 earnings per share for the current fiscal year.
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In related news, EVP David Altshuler sold 1,796 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $160.00, for a total value of $287,360.00. Following the completion of the sale, the executive vice president now directly owns 107,807 shares in the company, valued at approximately $17,249,120. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Amit Sachdev sold 28,625 shares of the business’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $160.93, for a total value of $4,606,621.25. Following the completion of the sale, the executive vice president now owns 119,335 shares of the company’s stock, valued at $19,204,581.55. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 518,358 shares of company stock valued at $83,072,822. 1.80% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of VRTX. Guardian Life Insurance Co. of America lifted its holdings in Vertex Pharmaceuticals by 0.6% in the 1st quarter. Guardian Life Insurance Co. of America now owns 956 shares of the pharmaceutical company’s stock worth $105,000 after purchasing an additional 6 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Vertex Pharmaceuticals by 15.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 988 shares of the pharmaceutical company’s stock worth $127,000 after purchasing an additional 132 shares during the last quarter. FNY Partners Fund LP lifted its holdings in Vertex Pharmaceuticals by 900.0% in the 2nd quarter. FNY Partners Fund LP now owns 1,000 shares of the pharmaceutical company’s stock worth $128,000 after purchasing an additional 900 shares during the last quarter. Dupont Capital Management Corp acquired a new stake in Vertex Pharmaceuticals in the 2nd quarter worth approximately $186,000. Finally, State of Alaska Department of Revenue acquired a new stake in Vertex Pharmaceuticals in the 2nd quarter worth approximately $197,000. Hedge funds and other institutional investors own 92.85% of the company’s stock.
Vertex Pharmaceuticals Company Profile
Vertex Pharmaceuticals Incorporated is engaged in discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company is focused on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs in other indications.
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