Vertex Pharmaceuticals’ (VRTX) Sell Rating Reaffirmed at Canaccord Genuity Group

Canaccord Genuity Group restated their sell rating on shares of Vertex Pharmaceuticals (NASDAQ:VRTXFree Report) in a research note issued to investors on Friday morning, Benzinga reports. Canaccord Genuity Group currently has a $371.00 price objective on the pharmaceutical company’s stock.

Several other analysts have also commented on the company. Wells Fargo & Company lifted their price objective on Vertex Pharmaceuticals from $500.00 to $540.00 and gave the stock an overweight rating in a report on Tuesday, February 6th. Barclays lifted their price objective on Vertex Pharmaceuticals from $446.00 to $472.00 and gave the stock an overweight rating in a report on Tuesday, February 6th. StockNews.com lowered Vertex Pharmaceuticals from a strong-buy rating to a buy rating in a report on Saturday, March 30th. Canaccord Genuity Group downgraded Vertex Pharmaceuticals from a hold rating to a sell rating and lifted their target price for the company from $332.00 to $379.00 in a research report on Wednesday, January 24th. Finally, Sanford C. Bernstein downgraded Vertex Pharmaceuticals from an outperform rating to a market perform rating in a research report on Friday, February 2nd. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $420.33.

Check Out Our Latest Analysis on VRTX

Vertex Pharmaceuticals Stock Down 0.9 %

Vertex Pharmaceuticals stock opened at $396.55 on Friday. The firm has a market cap of $102.49 billion, a price-to-earnings ratio of 28.55, a PEG ratio of 2.16 and a beta of 0.35. The stock has a fifty day simple moving average of $416.35 and a two-hundred day simple moving average of $396.14. Vertex Pharmaceuticals has a 12 month low of $316.43 and a 12 month high of $448.40. The company has a current ratio of 3.99, a quick ratio of 3.78 and a debt-to-equity ratio of 0.02.

Vertex Pharmaceuticals (NASDAQ:VRTXGet Free Report) last issued its quarterly earnings data on Monday, February 5th. The pharmaceutical company reported $4.20 EPS for the quarter, topping the consensus estimate of $3.85 by $0.35. Vertex Pharmaceuticals had a return on equity of 21.91% and a net margin of 36.68%. The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the previous year, the company posted $3.33 earnings per share. Equities analysts predict that Vertex Pharmaceuticals will post 14.95 EPS for the current fiscal year.

Insider Activity

In other news, CAO Kristen Ambrose sold 1,374 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $420.24, for a total value of $577,409.76. Following the sale, the chief accounting officer now directly owns 9,676 shares of the company’s stock, valued at $4,066,242.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Kristen Ambrose sold 1,374 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $420.24, for a total value of $577,409.76. Following the sale, the chief accounting officer now directly owns 9,676 shares of the company’s stock, valued at $4,066,242.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Amit Sachdev sold 3,222 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $420.24, for a total value of $1,354,013.28. Following the completion of the sale, the executive vice president now directly owns 74,364 shares in the company, valued at $31,250,727.36. The disclosure for this sale can be found here. Insiders have sold 12,381 shares of company stock worth $5,203,249 over the last ninety days. Corporate insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Several large investors have recently made changes to their positions in VRTX. OFI Invest Asset Management bought a new stake in Vertex Pharmaceuticals during the third quarter worth approximately $25,000. University of Texas Texas AM Investment Managment Co. bought a new stake in Vertex Pharmaceuticals during the fourth quarter worth approximately $25,000. ST Germain D J Co. Inc. bought a new stake in Vertex Pharmaceuticals during the second quarter worth approximately $26,000. Arlington Trust Co LLC increased its stake in Vertex Pharmaceuticals by 97.1% during the fourth quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock worth $27,000 after acquiring an additional 33 shares during the last quarter. Finally, ICA Group Wealth Management LLC bought a new stake in Vertex Pharmaceuticals during the fourth quarter worth approximately $28,000. 90.96% of the stock is owned by institutional investors.

About Vertex Pharmaceuticals

(Get Free Report)

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.

See Also

Analyst Recommendations for Vertex Pharmaceuticals (NASDAQ:VRTX)

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