Vertex Pharmaceuticals (VRTX) Downgraded by BidaskClub to Hold

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BidaskClub cut shares of Vertex Pharmaceuticals (NASDAQ:VRTX) from a buy rating to a hold rating in a report issued on Friday morning.

Other equities analysts have also recently issued research reports about the stock. Guggenheim assumed coverage on shares of Vertex Pharmaceuticals in a research report on Monday, December 17th. They set a neutral rating on the stock. Cantor Fitzgerald reissued a buy rating and set a $217.00 target price on shares of Vertex Pharmaceuticals in a research report on Monday, December 17th. Maxim Group reissued a hold rating on shares of Vertex Pharmaceuticals in a research report on Wednesday, March 6th. BMO Capital Markets lifted their target price on shares of Vertex Pharmaceuticals to $234.00 and gave the stock an outperform rating in a research report on Wednesday, February 6th. Finally, Zacks Investment Research raised shares of Vertex Pharmaceuticals from a sell rating to a hold rating in a research report on Saturday, January 26th. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $205.65.

VRTX stock opened at $183.85 on Friday. The stock has a market cap of $46.41 billion, a price-to-earnings ratio of 64.96, a P/E/G ratio of 2.30 and a beta of 1.65. Vertex Pharmaceuticals has a 52-week low of $144.07 and a 52-week high of $195.81.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Tuesday, February 5th. The pharmaceutical company reported $1.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.24. Vertex Pharmaceuticals had a net margin of 68.81% and a return on equity of 24.15%. The firm had revenue of $870.11 million for the quarter, compared to analysts’ expectations of $818.29 million. During the same quarter last year, the firm earned $0.61 EPS. The company’s quarterly revenue was up 33.5% compared to the same quarter last year. Equities research analysts expect that Vertex Pharmaceuticals will post 3.04 earnings per share for the current fiscal year.

In other Vertex Pharmaceuticals news, SVP Paul M. Silva sold 2,812 shares of the business’s stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $186.97, for a total transaction of $525,759.64. Following the sale, the senior vice president now owns 18,903 shares of the company’s stock, valued at approximately $3,534,293.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Reshma Kewalramani sold 1,488 shares of the business’s stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $186.94, for a total transaction of $278,166.72. Following the sale, the chief marketing officer now directly owns 14,038 shares in the company, valued at approximately $2,624,263.72. The disclosure for this sale can be found here. Insiders sold a total of 214,999 shares of company stock worth $39,289,000 in the last ninety days. 0.75% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the business. Resources Investment Advisors Inc. bought a new stake in Vertex Pharmaceuticals during the 4th quarter valued at $27,000. Oregon Public Employees Retirement Fund raised 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 valued at $28,000 after acquiring an additional 4,583,156 shares during the period. We Are One Seven LLC bought a new stake in Vertex Pharmaceuticals during the 4th quarter valued at $32,000. Berman Capital Advisors LLC bought a new stake in Vertex Pharmaceuticals during the 4th quarter valued at $35,000. Finally, Sontag Advisory LLC bought a new stake in Vertex Pharmaceuticals during the 4th quarter valued at $36,000. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Company Profile

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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Analyst Recommendations for Vertex Pharmaceuticals (NASDAQ:VRTX)

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