Vertex Pharmaceuticals (VRTX) Downgraded to Hold at BidaskClub

BidaskClub downgraded shares of Vertex Pharmaceuticals (NASDAQ:VRTX) from a buy rating to a hold rating in a research report released on Tuesday morning, BidAskClub reports.

Several other brokerages also recently commented on VRTX. Maxim Group downgraded shares of 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. Svb Leerink restated a market perform rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, March 19th. Oppenheimer boosted their price objective on shares of Vertex Pharmaceuticals from $200.00 to $230.00 and gave the company an outperform rating in a research report on Thursday, March 7th. Citigroup lowered their price objective on shares of Vertex Pharmaceuticals from $206.00 to $205.00 and set a buy rating for the company in a research report on Friday, January 4th. Finally, Raymond James downgraded shares of Vertex Pharmaceuticals from an outperform rating to a market perform rating and set a $165.71 price objective for the company. in a research report on Wednesday, January 2nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $203.31.

Shares of VRTX opened at $179.74 on Tuesday. Vertex Pharmaceuticals has a one year low of $144.07 and a one year high of $195.81. The company has a market cap of $46.65 billion, a price-to-earnings ratio of 62.50, a PEG ratio of 2.67 and a beta of 1.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Tuesday, February 5th. The pharmaceutical company reported $1.30 EPS for the quarter, beating the 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 business had revenue of $870.11 million during the quarter, compared to the consensus estimate of $818.29 million. During the same period in the previous year, the business earned $0.61 earnings per share. The company’s revenue was up 33.5% on a year-over-year basis. Equities research analysts anticipate that Vertex Pharmaceuticals will post 3.04 EPS for the current year.

In other news, SVP Paul M. Silva sold 3,007 shares of the company’s stock in a transaction on Thursday, January 17th. The shares were sold at an average price of $190.62, for a total transaction of $573,194.34. Following the completion of the transaction, the senior vice president now directly owns 17,376 shares in the company, valued at $3,312,213.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David Altshuler sold 2,125 shares of the company’s stock in a transaction on Tuesday, January 22nd. The stock was sold at an average price of $193.48, for a total transaction of $411,145.00. Following the transaction, the executive vice president now owns 41,238 shares of the company’s stock, valued at $7,978,728.24. The disclosure for this sale can be found here. Insiders have sold 208,624 shares of company stock valued at $38,187,166 over the last quarter. Company insiders own 0.75% of the company’s stock.

Several institutional investors have recently modified their holdings of VRTX. Martingale Asset Management L P grew its stake in shares of Vertex Pharmaceuticals by 28.4% in the third quarter. Martingale Asset Management L P now owns 14,012 shares of the pharmaceutical company’s stock worth $2,701,000 after purchasing an additional 3,100 shares during the last quarter. LPL Financial LLC grew its stake in shares of Vertex Pharmaceuticals by 7.6% in the third quarter. LPL Financial LLC now owns 44,246 shares of the pharmaceutical company’s stock worth $8,528,000 after purchasing an additional 3,126 shares during the last quarter. HPM Partners LLC grew its stake in shares of Vertex Pharmaceuticals by 69.4% in the third quarter. HPM Partners LLC now owns 2,510 shares of the pharmaceutical company’s stock worth $484,000 after purchasing an additional 1,028 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Vertex Pharmaceuticals by 54.0% in the third quarter. AQR Capital Management LLC now owns 1,281,344 shares of the pharmaceutical company’s stock worth $246,966,000 after purchasing an additional 449,549 shares during the last quarter. Finally, Ashford Capital Management Inc. bought a new stake in shares of Vertex Pharmaceuticals in the third quarter worth $806,000. 95.37% of the stock is currently owned by 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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Analyst Recommendations for Vertex Pharmaceuticals (NASDAQ:VRTX)

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