Vertex Pharmaceuticals (VRTX) Raised to Hold at BidaskClub
A number of other research firms also recently issued reports on VRTX. Zacks Investment Research upgraded Vertex Pharmaceuticals from a sell rating to a hold rating in a report on Saturday, January 26th. Svb Leerink reiterated a market perform rating on shares of Vertex Pharmaceuticals in a report on Tuesday, March 19th. Leerink Swann cut Vertex Pharmaceuticals from an outperform rating to a market perform rating and set a $185.40 price target for the company. in a research report on Tuesday, March 19th. They noted that the move was a valuation call. BMO Capital Markets increased their price target on Vertex Pharmaceuticals to $234.00 and gave the company an outperform rating in a research report on Wednesday, February 6th. Finally, Maxim Group cut Vertex Pharmaceuticals from a buy rating to a hold rating in a research report on Wednesday, February 6th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $204.36.
NASDAQ:VRTX opened at $171.77 on Friday. The company has a quick ratio of 3.66, a current ratio of 3.78 and a debt-to-equity ratio of 0.13. The stock has a market cap of $43.99 billion, a P/E ratio of 60.70, a PEG ratio of 2.45 and a beta of 1.56. Vertex Pharmaceuticals has a 52-week low of $144.07 and a 52-week high of $195.81.
In other Vertex Pharmaceuticals news, SVP Paul M. Silva sold 161 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $165.41, for a total transaction of $26,631.01. Following the transaction, the senior vice president now directly owns 17,759 shares of the company’s stock, valued at approximately $2,937,516.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Reshma Kewalramani sold 241 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $165.41, for a total value of $39,863.81. Following the transaction, the chief marketing officer now directly owns 13,736 shares in the company, valued at $2,272,071.76. The disclosure for this sale can be found here. Insiders have sold a total of 51,247 shares of company stock worth $8,998,147 over the last ninety days. Company insiders own 0.70% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in VRTX. Oregon Public Employees Retirement Fund lifted its holdings in Vertex Pharmaceuticals by 16,530.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,610,881 shares of the pharmaceutical company’s stock worth $28,000 after buying an additional 4,583,156 shares during the period. FMR LLC lifted its stake in shares of Vertex Pharmaceuticals by 19.3% in the 1st quarter. FMR LLC now owns 24,434,159 shares of the pharmaceutical company’s stock valued at $4,494,663,000 after purchasing an additional 3,951,050 shares during the period. Norges Bank acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at about $380,584,000. Renaissance Technologies LLC lifted its stake in shares of Vertex Pharmaceuticals by 17.2% in the 1st quarter. Renaissance Technologies LLC now owns 5,078,717 shares of the pharmaceutical company’s stock valued at $934,230,000 after purchasing an additional 744,417 shares during the period. Finally, Jennison Associates LLC lifted its stake in shares of Vertex Pharmaceuticals by 11.9% in the 4th quarter. Jennison Associates LLC now owns 6,941,621 shares of the pharmaceutical company’s stock valued at $1,150,296,000 after purchasing an additional 739,128 shares during the period. 96.10% of the stock is currently owned by hedge funds and other institutional investors.
About Vertex Pharmaceuticals
Vertex Pharmaceuticals Incorporated engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene.
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