Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) was downgraded by equities research analysts at Vetr from a “sell” rating to a “strong sell” rating in a note issued to investors on Thursday. They currently have a $102.58 price objective on the pharmaceutical company’s stock. Vetr‘s price target would indicate a potential downside of 12.52% from the company’s current price.

VRTX has been the subject of several other research reports. Zacks Investment Research lowered shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, January 12th. Stifel Nicolaus reduced their price objective on shares of Vertex Pharmaceuticals from $108.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, January 26th. Maxim Group reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, February 3rd. Jefferies Group LLC reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a report on Sunday, January 8th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, January 20th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $108.31.

Analyst Recommendations for Vertex Pharmaceuticals (NASDAQ:VRTX)

Vertex Pharmaceuticals (NASDAQ:VRTX) traded up 2.29% on Thursday, hitting $117.26. 1,495,498 shares of the company were exchanged. The firm has a 50 day moving average of $101.25 and a 200-day moving average of $87.44. Vertex Pharmaceuticals has a 52-week low of $71.46 and a 52-week high of $117.99. The stock’s market cap is $29.13 billion.

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Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Wednesday, January 25th. The pharmaceutical company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.29 by $0.06. The business earned $458.71 million during the quarter, compared to analyst estimates of $453.40 million. Vertex Pharmaceuticals had a negative net margin of 6.76% and a negative return on equity of 2.15%. During the same quarter in the prior year, the firm earned $0.17 earnings per share. On average, equities analysts expect that Vertex Pharmaceuticals will post $1.62 earnings per share for the current fiscal year.

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In other Vertex Pharmaceuticals news, CMO Jeffrey Chodakewitz sold 8,021 shares of the stock in a transaction that occurred on Wednesday, April 5th. The stock was sold at an average price of $114.00, for a total transaction of $914,394.00. Following the transaction, the chief marketing officer now owns 130,532 shares in the company, valued at $14,880,648. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Paul M. Silva sold 1,688 shares of the stock in a transaction that occurred on Wednesday, March 29th. The shares were sold at an average price of $106.30, for a total value of $179,434.40. Following the transaction, the senior vice president now owns 21,759 shares in the company, valued at approximately $2,312,981.70. The disclosure for this sale can be found here. Insiders sold 106,250 shares of company stock worth $11,473,856 in the last 90 days. 1.90% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the stock. Municipal Employees Retirement System of Michigan increased its position in shares of Vertex Pharmaceuticals by 0.3% in the third quarter. Municipal Employees Retirement System of Michigan now owns 7,820 shares of the pharmaceutical company’s stock valued at $682,000 after buying an additional 20 shares during the period. Cim Investment Mangement Inc. increased its position in shares of Vertex Pharmaceuticals by 1.2% in the fourth quarter. Cim Investment Mangement Inc. now owns 4,143 shares of the pharmaceutical company’s stock valued at $305,000 after buying an additional 48 shares during the period. Conning Inc. increased its position in shares of Vertex Pharmaceuticals by 1.0% in the third quarter. Conning Inc. now owns 5,800 shares of the pharmaceutical company’s stock valued at $506,000 after buying an additional 60 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Vertex Pharmaceuticals by 0.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,218 shares of the pharmaceutical company’s stock valued at $1,047,000 after buying an additional 67 shares during the period. Finally, Capital One National Association increased its position in shares of Vertex Pharmaceuticals by 2.8% in the third quarter. Capital One National Association now owns 3,333 shares of the pharmaceutical company’s stock valued at $291,000 after buying an additional 90 shares during the period. Institutional investors own 94.85% of the company’s stock.

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.

5 Day Chart for NASDAQ:VRTX

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

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