Vertex Pharmaceuticals (NASDAQ:VRTX) Cut to Buy at StockNews.com

Vertex Pharmaceuticals (NASDAQ:VRTX) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.

Other research analysts have also recently issued research reports about the stock. Evercore ISI raised shares of Vertex Pharmaceuticals from an “in-line” rating to an “outperform” rating and set a $438.00 price target on the stock in a research report on Thursday, April 11th. Oppenheimer reissued an “outperform” rating and set a $500.00 price target on shares of Vertex Pharmaceuticals in a research report on Monday, April 15th. Guggenheim boosted their price target on shares of Vertex Pharmaceuticals from $445.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday. Cantor Fitzgerald reissued an “overweight” rating and set a $440.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 20th. Finally, William Blair reissued an “outperform” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 6th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $429.45.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $394.28 on Friday. The firm has a market cap of $101.91 billion, a PE ratio of 28.39, a PEG ratio of 1.85 and a beta of 0.35. The firm has a fifty day moving average of $413.60 and a 200 day moving average of $397.06. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.78 and a current ratio of 3.99. Vertex Pharmaceuticals has a one year low of $316.43 and a one year high of $448.40.

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

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, COO Stuart A. Arbuckle sold 4,295 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $420.24, for a total value of $1,804,930.80. Following the transaction, the chief operating officer now directly owns 75,718 shares in the company, valued at $31,819,732.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Stuart A. Arbuckle sold 4,295 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $420.24, for a total value of $1,804,930.80. Following the completion of the sale, the chief operating officer now directly owns 75,718 shares of the company’s stock, valued at $31,819,732.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Jeffrey M. Leiden sold 2,656 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $419.51, for a total value of $1,114,218.56. Following the completion of the sale, the chairman now directly owns 27,644 shares of the company’s stock, valued at $11,596,934.44. 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 three months. Insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth $25,000. Annapolis Financial Services LLC purchased a new position in Vertex Pharmaceuticals in the first quarter worth $27,000. Arlington Trust Co LLC raised its position in Vertex Pharmaceuticals by 97.1% in 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 in the last quarter. ICA Group Wealth Management LLC purchased a new position in Vertex Pharmaceuticals in the fourth quarter worth $28,000. Finally, Fortitude Family Office LLC purchased a new position in Vertex Pharmaceuticals in the fourth quarter worth $30,000. 90.96% of the stock is owned by institutional investors and hedge funds.

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.