Vertex Pharmaceuticals (NASDAQ:VRTX) Downgraded by StockNews.com to “Hold”

Vertex Pharmaceuticals (NASDAQ:VRTX) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

Several other analysts have also recently commented on VRTX. William Blair reaffirmed an “outperform” rating on shares of Vertex Pharmaceuticals in a research note on Friday, January 31st. Scotiabank lifted their target price on shares of Vertex Pharmaceuticals from $433.00 to $450.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. UBS Group lifted their target price on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $550.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Eleven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $505.57.

Vertex Pharmaceuticals Price Performance

Shares of Vertex Pharmaceuticals stock traded up $9.65 during trading on Wednesday, hitting $471.76. 1,454,541 shares of the company were exchanged, compared to its average volume of 1,543,211. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The stock has a market capitalization of $121.14 billion, a price-to-earnings ratio of -214.44, a P/E/G ratio of 2.02 and a beta of 0.41. The firm has a 50 day moving average price of $435.25 and a 200 day moving average price of $460.44.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. On average, equities analysts expect 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 244 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total value of $111,034.64. Following the transaction, the executive vice president now owns 67,695 shares in the company, valued at $30,805,286.70. The trade was a 0.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Vertex Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in VRTX. Stratos Wealth Advisors LLC lifted its holdings in Vertex Pharmaceuticals by 16.2% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 560 shares of the pharmaceutical company’s stock worth $260,000 after buying an additional 78 shares in the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter valued at about $25,000. Whittier Trust Co. raised its stake in shares of Vertex Pharmaceuticals by 5.9% in the 3rd quarter. Whittier Trust Co. now owns 1,533 shares of the pharmaceutical company’s stock valued at $713,000 after purchasing an additional 86 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Vertex Pharmaceuticals by 4.5% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 576 shares of the pharmaceutical company’s stock valued at $268,000 after purchasing an additional 25 shares in the last quarter. Finally, Foundations Investment Advisors LLC raised its stake in shares of Vertex Pharmaceuticals by 11.3% in the 3rd quarter. Foundations Investment Advisors LLC now owns 849 shares of the pharmaceutical company’s stock valued at $395,000 after purchasing an additional 86 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

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.