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

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

VRTX has been the subject of a number of other reports. Scotiabank raised their price objective on Vertex Pharmaceuticals from $433.00 to $450.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 11th. Morgan Stanley raised their price objective on Vertex Pharmaceuticals from $450.00 to $459.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 11th. HC Wainwright reiterated a “buy” rating and set a $550.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Stifel Nicolaus lifted their price target on Vertex Pharmaceuticals from $490.00 to $494.00 and gave the company a “hold” rating in a report on Monday, December 16th. Finally, Wells Fargo & Company lowered Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 price target for the company. in a report on Thursday, January 30th. Eleven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $505.61.

Vertex Pharmaceuticals Trading Up 1.8 %

Shares of NASDAQ VRTX opened at $480.33 on Wednesday. Vertex Pharmaceuticals has a one year low of $377.85 and a one year high of $519.88. The firm has a market capitalization of $123.34 billion, a PE ratio of -218.33, a PEG ratio of 2.03 and a beta of 0.41. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average price of $435.64 and a two-hundred day moving average price of $460.65.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 EPS for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. As a group, analysts predict that Vertex Pharmaceuticals will post 15.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 310 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $459.83, for a total value 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 position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in VRTX. Norges Bank bought a new position in Vertex Pharmaceuticals in the 4th quarter worth approximately $1,374,948,000. Parnassus Investments LLC bought a new position in Vertex Pharmaceuticals in the 4th quarter worth approximately $731,283,000. Edgewood Management LLC increased its position in Vertex Pharmaceuticals by 7,876.3% in the 3rd quarter. Edgewood Management LLC now owns 1,546,370 shares of the pharmaceutical company’s stock worth $719,186,000 after buying an additional 1,526,983 shares during the period. Capital World Investors increased its position in Vertex Pharmaceuticals by 5.7% in the 4th quarter. Capital World Investors now owns 28,325,695 shares of the pharmaceutical company’s stock worth $11,406,667,000 after buying an additional 1,514,993 shares during the period. Finally, Capital Research Global Investors increased its position in Vertex Pharmaceuticals by 15.8% in the 4th quarter. Capital Research Global Investors now owns 10,428,951 shares of the pharmaceutical company’s stock worth $4,199,713,000 after buying an additional 1,426,746 shares during the period. 90.96% of the stock is owned by institutional investors.

About Vertex Pharmaceuticals

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.