Vertex Pharmaceuticals (VRTX) Downgraded by BidaskClub

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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 Tuesday, BidAskClub reports.

Several other equities analysts have also recently issued reports on the stock. Maxim Group reiterated a hold rating on shares of Vertex Pharmaceuticals in a research report on Wednesday, March 6th. Cowen reiterated a buy rating and set a $220.00 price target on shares of Vertex Pharmaceuticals in a research report on Wednesday, March 6th. Citigroup reduced their price target on shares of Vertex Pharmaceuticals from $206.00 to $205.00 and set a buy rating on the stock in a research report on Friday, January 4th. Raymond James cut shares of Vertex Pharmaceuticals from an outperform rating to a market perform rating and set a $165.71 price target on the stock. in a research report on Wednesday, January 2nd. Finally, Oppenheimer boosted their price target 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. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $203.31.

Shares of NASDAQ VRTX opened at $168.16 on Tuesday. Vertex Pharmaceuticals has a 1 year low of $144.07 and a 1 year high of $195.81. The stock has a market cap of $42.99 billion, a P/E ratio of 59.42, a P/E/G ratio of 2.67 and a beta of 1.64.

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

In related news, SVP Paul M. Silva sold 4,215 shares of the business’s stock in a transaction dated Monday, February 11th. The shares were sold at an average price of $180.16, for a total transaction of $759,374.40. Following the sale, the senior vice president now owns 23,386 shares of the company’s stock, valued at $4,213,221.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey M. Leiden sold 111,431 shares of the company’s stock in a transaction that occurred on Monday, February 11th. The stock was sold at an average price of $180.24, for a total transaction of $20,084,323.44. Following the completion of the transaction, the chief executive officer now owns 223,916 shares in the company, valued at approximately $40,358,619.84. The disclosure for this sale can be found here. Insiders have sold 210,018 shares of company stock worth $38,398,113 in the last three months. 0.75% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC lifted its stake in shares of Vertex Pharmaceuticals by 13.3% in the fourth quarter. FMR LLC now owns 20,483,109 shares of the pharmaceutical company’s stock worth $3,394,256,000 after buying an additional 2,411,631 shares in the last quarter. Vanguard Group Inc lifted its stake in shares of Vertex Pharmaceuticals by 1.2% in the third quarter. Vanguard Group Inc now owns 18,775,252 shares of the pharmaceutical company’s stock worth $3,618,743,000 after buying an additional 213,550 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of Vertex Pharmaceuticals by 11.9% in the fourth quarter. Jennison Associates LLC now owns 6,941,621 shares of the pharmaceutical company’s stock worth $1,150,296,000 after buying an additional 739,128 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of Vertex Pharmaceuticals by 16,530.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,610,881 shares of the pharmaceutical company’s stock worth $28,000 after buying an additional 4,583,156 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Vertex Pharmaceuticals by 7.3% in the fourth quarter. Geode Capital Management LLC now owns 3,059,306 shares of the pharmaceutical company’s stock worth $505,995,000 after buying an additional 207,934 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

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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