Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other equities research analysts also recently weighed in on VRTX. Stifel Nicolaus boosted their price target on Vertex Pharmaceuticals from $130.00 to $154.00 and gave the company a “buy” rating in a report on Tuesday, July 18th. Zacks Investment Research upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $144.00 price target for the company in a report on Tuesday, July 4th. Jefferies Group LLC reiterated a “buy” rating and issued a $126.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, May 2nd. Needham & Company LLC upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $155.00 price target for the company in a report on Friday, June 23rd. Finally, J P Morgan Chase & Co set a $184.00 price target on Vertex Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, July 27th. Six analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. Vertex Pharmaceuticals presently has an average rating of “Buy” and an average target price of $162.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) traded down 0.28% on Friday, reaching $148.13. 887,138 shares of the company’s stock were exchanged. The company has a market capitalization of $37.35 billion, a PE ratio of 142.30 and a beta of 1.77. Vertex Pharmaceuticals has a 1-year low of $71.46 and a 1-year high of $167.86. The company has a 50 day moving average price of $146.73 and a 200-day moving average price of $117.81.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.33. Vertex Pharmaceuticals had a return on equity of 4.64% and a net margin of 12.05%. The company had revenue of $544.10 million for the quarter, compared to analyst estimates of $489.95 million. During the same period in the prior year, the company posted $0.24 EPS. Vertex Pharmaceuticals’s quarterly revenue was up 26.1% on a year-over-year basis. On average, equities research analysts anticipate that Vertex Pharmaceuticals will post $1.60 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: “Vertex Pharmaceuticals Incorporated (VRTX) Downgraded by BidaskClub to Hold” was originally posted by American Banking News and is owned by of American Banking News. If you are accessing this story on another domain, it was stolen and republished in violation of international copyright and trademark legislation. The legal version of this story can be viewed at https://www.americanbankingnews.com/2017/08/19/vertex-pharmaceuticals-incorporated-vrtx-downgraded-by-bidaskclub-to-hold.html.

In other news, SVP Paul M. Silva sold 860 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $152.99, for a total value of $131,571.40. Following the completion of the sale, the senior vice president now owns 17,494 shares in the company, valued at $2,676,407.06. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CMO Jeffrey Chodakewitz sold 573 shares of the company’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $129.85, for a total value of $74,404.05. Following the completion of the sale, the chief marketing officer now owns 123,084 shares of the company’s stock, valued at approximately $15,982,457.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 751,042 shares of company stock valued at $113,078,257. Insiders own 1.80% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Korea Investment CORP raised its stake in shares of Vertex Pharmaceuticals by 225.3% in the first quarter. Korea Investment CORP now owns 950 shares of the pharmaceutical company’s stock valued at $104,000 after buying an additional 658 shares during the period. Guardian Life Insurance Co. of America raised its stake in shares of Vertex Pharmaceuticals by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 956 shares of the pharmaceutical company’s stock valued at $105,000 after buying an additional 6 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Vertex Pharmaceuticals by 15.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 988 shares of the pharmaceutical company’s stock valued at $127,000 after buying an additional 132 shares during the period. FNY Partners Fund LP raised its stake in shares of Vertex Pharmaceuticals by 900.0% in the second quarter. FNY Partners Fund LP now owns 1,000 shares of the pharmaceutical company’s stock valued at $128,000 after buying an additional 900 shares during the period. Finally, FUKOKU MUTUAL LIFE INSURANCE Co raised its stake in shares of Vertex Pharmaceuticals by 7.1% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,500 shares of the pharmaceutical company’s stock valued at $164,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 94.89% 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.

Analyst Recommendations for Vertex Pharmaceuticals (NASDAQ:VRTX)

Receive News & Ratings for Vertex Pharmaceuticals Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vertex Pharmaceuticals Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.