Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) was downgraded by stock analysts at Vetr from a “sell” rating to a “strong sell” rating in a report issued on Tuesday, May 16th. They presently have a $102.62 target price on the pharmaceutical company’s stock. Vetr‘s price objective points to a potential downside of 16.64% from the stock’s previous close.

A number of other brokerages have also issued reports on VRTX. JMP Securities upgraded shares of Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $103.73 to $115.00 in a research note on Friday, March 17th. Zacks Investment Research lowered shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, April 10th. Jefferies Group LLC reiterated a “buy” rating and set a $126.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 2nd. Citigroup Inc. upped their target price on shares of Vertex Pharmaceuticals from $105.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, March 29th. Finally, Cowen and Company restated a “market perform” rating and set a $75.00 target price on shares of Vertex Pharmaceuticals in a research note on Thursday, March 30th. Nine research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Vertex Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $117.02.

Analyst Recommendations for Vertex Pharmaceuticals (NASDAQ:VRTX)

Shares of Vertex Pharmaceuticals (VRTX) traded down 0.73% during midday trading on Tuesday, reaching $123.14. 3,152,299 shares of the company’s stock were exchanged. Vertex Pharmaceuticals has a 12-month low of $71.46 and a 12-month high of $130.69. The stock’s 50 day moving average is $120.30 and its 200-day moving average is $97.79. The stock has a market cap of $30.67 billion, a PE ratio of 171.74 and a beta of 1.65.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Thursday, April 27th. The pharmaceutical company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.09. The firm had revenue of $714.72 million for the quarter, compared to analyst estimates of $692.64 million. Vertex Pharmaceuticals had a net margin of 8.64% and a return on equity of 3.00%. Vertex Pharmaceuticals’s revenue was up 79.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.09 EPS. On average, equities analysts expect that Vertex Pharmaceuticals will post $1.66 EPS for the current year.

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In other news, SVP Paul M. Silva sold 1,688 shares of the firm’s stock in a transaction on Wednesday, March 29th. The stock was sold at an average price of $106.30, for a total value of $179,434.40. Following the completion of the transaction, the senior vice president now owns 21,759 shares in the company, valued at $2,312,981.70. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Amit Sachdev sold 80,500 shares of the firm’s stock in a transaction on Wednesday, March 29th. The shares were sold at an average price of $107.63, for a total value of $8,664,215.00. Following the completion of the transaction, the executive vice president now owns 105,054 shares of the company’s stock, valued at approximately $11,306,962.02. The disclosure for this sale can be found here. Insiders sold 499,175 shares of company stock valued at $60,610,079 in the last quarter. 1.90% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of VRTX. Clearbridge Investments LLC raised its stake in Vertex Pharmaceuticals by 1.2% in the first quarter. Clearbridge Investments LLC now owns 8,754,618 shares of the pharmaceutical company’s stock worth $957,317,000 after buying an additional 105,260 shares during the last quarter. Sowell Financial Services LLC raised its stake in Vertex Pharmaceuticals by 0.8% in the first quarter. Sowell Financial Services LLC now owns 2,762 shares of the pharmaceutical company’s stock worth $325,000 after buying an additional 23 shares during the last quarter. Piedmont Investment Advisors LLC raised its stake in Vertex Pharmaceuticals by 0.9% in the first quarter. Piedmont Investment Advisors LLC now owns 52,217 shares of the pharmaceutical company’s stock worth $5,710,000 after buying an additional 454 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in Vertex Pharmaceuticals by 14.5% in the first quarter. Public Employees Retirement System of Ohio now owns 192,190 shares of the pharmaceutical company’s stock worth $21,016,000 after buying an additional 24,308 shares during the last quarter. Finally, Achmea Investment Management B.V. bought a new stake in Vertex Pharmaceuticals during the first quarter worth approximately $564,000. 94.38% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated is engaged in discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company is focused on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs in other indications.

To view Vetr’s full report, visit Vetr’s official website.

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