Vertex Pharmaceuticals (VRTX) Downgraded by Maxim Group to “Hold”

Vertex Pharmaceuticals (NASDAQ:VRTX) was downgraded by equities researchers at Maxim Group from a “buy” rating to a “hold” rating in a research report issued on Wednesday, The Fly reports.

A number of other equities analysts also recently commented on the stock. Piper Jaffray Companies reduced their target price on shares of Vertex Pharmaceuticals to $217.00 and set an “overweight” rating on the stock in a research note on Friday, October 26th. BidaskClub downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, October 26th. Raymond James downgraded shares of Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating and set a $165.71 target price on the stock. in a research note on Wednesday, January 2nd. Citigroup reduced their target price on shares of Vertex Pharmaceuticals from $206.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday, January 4th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Wednesday, October 24th. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $201.43.

Shares of NASDAQ VRTX opened at $187.02 on Wednesday. The company has a current ratio of 3.71, a quick ratio of 3.59 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals has a 52-week low of $144.07 and a 52-week high of $195.81. The stock has a market capitalization of $48.04 billion, a PE ratio of 233.78, a P/E/G ratio of 1.41 and a beta of 1.65.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Tuesday, February 5th. The pharmaceutical company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.24. Vertex Pharmaceuticals had a net margin of 22.87% and a return on equity of 22.92%. The company had revenue of $870.11 million for the quarter, compared to the consensus estimate of $818.29 million. During the same period in the previous year, the firm earned $0.61 earnings per share. Vertex Pharmaceuticals’s quarterly revenue was up 33.5% compared to the same quarter last year. Research analysts predict that Vertex Pharmaceuticals will post 2.56 earnings per share for the current fiscal year.

In related news, SVP Paul M. Silva sold 3,007 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Thursday, January 17th. The shares were sold at an average price of $190.62, for a total value of $573,194.34. Following the completion of the transaction, the senior vice president now owns 17,376 shares in the company, valued at $3,312,213.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Paul M. Silva sold 809 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $186.52, for a total transaction of $150,894.68. Following the completion of the transaction, the senior vice president now owns 16,896 shares of the company’s stock, valued at approximately $3,151,441.92. The disclosure for this sale can be found here. Insiders sold a total of 17,101 shares of company stock worth $3,152,102 over the last three months. Insiders own 0.75% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. WINTON GROUP Ltd acquired a new position in Vertex Pharmaceuticals during the 4th quarter worth approximately $331,000. Oregon Public Employees Retirement Fund grew its holdings in Vertex Pharmaceuticals by 16,530.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,610,881 shares of the pharmaceutical company’s stock worth $28,000 after acquiring an additional 4,583,156 shares in the last quarter. Roosevelt Investment Group Inc. acquired a new position in Vertex Pharmaceuticals during the 4th quarter worth approximately $9,007,000. Picton Mahoney Asset Management grew its holdings in Vertex Pharmaceuticals by 3.0% during the 4th quarter. Picton Mahoney Asset Management now owns 103,464 shares of the pharmaceutical company’s stock worth $17,147,000 after acquiring an additional 3,023 shares in the last quarter. Finally, Parallel Advisors LLC grew its holdings in Vertex Pharmaceuticals by 5.8% during the 4th quarter. Parallel Advisors LLC now owns 1,091 shares of the pharmaceutical company’s stock worth $180,000 after acquiring an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Incorporated, a biotechnology company, develops medicines for serious diseases. The company focuses on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs. It markets ORKAMBI (lumacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are homozygous for the F508del mutation in their cystic fibrosis transmembrane conductance regulator (CFTR) gene; KALYDECO (ivacaftor) for the treatment of patients with CF who have specific mutations in their CFTR gene, including the G551D mutation; and SYMDEKO (tezacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are F508del homozygous or who have 1 mutation that is responsive to tezacaftor/ivacaftor.

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The Fly

Analyst Recommendations for Vertex Pharmaceuticals (NASDAQ:VRTX)

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