Vertex Pharmaceuticals Inc. (VRTX) Downgraded by Barclays PLC to “Equal Weight”
Barclays PLC lowered shares of Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) from an overweight rating to an equal weight rating in a research note released on Tuesday morning. They currently have $90.00 price objective on the pharmaceutical company’s stock, down from their previous price objective of $100.00.
VRTX has been the topic of several other research reports. Stifel Nicolaus restated a buy rating and set a $108.00 price objective (down previously from $109.00) on shares of Vertex Pharmaceuticals in a report on Friday, October 28th. Zacks Investment Research downgraded shares of Vertex Pharmaceuticals from a hold rating to a strong sell rating in a report on Tuesday, September 27th. Maxim Group restated a hold rating on shares of Vertex Pharmaceuticals in a report on Thursday, September 29th. Vetr downgraded shares of Vertex Pharmaceuticals from a strong-buy rating to a buy rating and set a $87.67 price objective on the stock. in a report on Monday, November 7th. Finally, BMO Capital Markets restated a hold rating and set a $87.00 price objective on shares of Vertex Pharmaceuticals in a report on Thursday, September 15th. Sixteen research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Vertex Pharmaceuticals presently has a consensus rating of Hold and a consensus price target of $107.17.
Vertex Pharmaceuticals (NASDAQ:VRTX) opened at 85.65 on Tuesday. The stock’s market cap is $21.24 billion. The firm’s 50-day moving average is $83.91 and its 200 day moving average is $89.91. Vertex Pharmaceuticals has a one year low of $73.31 and a one year high of $133.41.
Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Tuesday, October 25th. The pharmaceutical company reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.02. The firm had revenue of $413.78 million for the quarter, compared to analysts’ expectations of $423.53 million. Vertex Pharmaceuticals had a negative net margin of 13.45% and a negative return on equity of 5.31%. The business’s quarterly revenue was up 33.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.13) earnings per share. On average, analysts anticipate that Vertex Pharmaceuticals will post $0.78 EPS for the current fiscal year.
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In other Vertex Pharmaceuticals news, Director Joshua S. Boger sold 6,500 shares of the firm’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $92.37, for a total value of $600,405.00. Following the completion of the sale, the director now directly owns 274,725 shares of the company’s stock, valued at approximately $25,376,348.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Paul M. Silva sold 5,062 shares of the firm’s stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $90.98, for a total value of $460,540.76. Following the completion of the sale, the senior vice president now directly owns 17,125 shares of the company’s stock, valued at $1,558,032.50. The disclosure for this sale can be found here. 1.90% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of VRTX. Arizona State Retirement System increased its stake in shares of Vertex Pharmaceuticals by 2.1% in the first quarter. Arizona State Retirement System now owns 66,800 shares of the pharmaceutical company’s stock worth $5,310,000 after buying an additional 1,400 shares during the period. Squarepoint Ops LLC bought a new stake in shares of Vertex Pharmaceuticals during the first quarter worth about $684,000. BlueMountain Capital Management LLC increased its stake in shares of Vertex Pharmaceuticals by 69.3% in the first quarter. BlueMountain Capital Management LLC now owns 1,867 shares of the pharmaceutical company’s stock worth $148,000 after buying an additional 764 shares during the period. Cullinan Associates Inc. increased its stake in shares of Vertex Pharmaceuticals by 27.1% in the second quarter. Cullinan Associates Inc. now owns 128,010 shares of the pharmaceutical company’s stock worth $11,011,000 after buying an additional 27,323 shares during the period. Finally, DNB Asset Management AS increased its stake in shares of Vertex Pharmaceuticals by 8.2% in the second quarter. DNB Asset Management AS now owns 19,780 shares of the pharmaceutical company’s stock worth $1,701,000 after buying an additional 1,500 shares during the period. 95.39% of the stock is owned by institutional investors and hedge funds.
About Vertex Pharmaceuticals
Vertex Pharmaceuticals Incorporated is engaged in the business of discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company operates in pharmaceuticals segment. Its business is focused on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs in other indications.
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