Vertex Pharmaceuticals (NASDAQ:VRTX) Downgraded by BidaskClub

BidaskClub lowered shares of Vertex Pharmaceuticals (NASDAQ:VRTX) from a buy rating to a hold rating in a report issued on Tuesday, BidAskClub reports.

Several other brokerages have also recently weighed in on VRTX. William Blair reissued a market perform rating on shares of aTyr Pharma in a report on Tuesday, March 26th. Evercore ISI began coverage on Homology Medicines in a report on Thursday, April 11th. They set an outperform rating and a $29.00 price objective for the company. Goldman Sachs Group raised Lenovo Group from a neutral rating to a buy rating in a report on Thursday, May 23rd. They noted that the move was a valuation call. Leerink Swann cut Vertex Pharmaceuticals from an outperform rating to a market perform rating and set a $185.40 price objective for the company. in a report on Tuesday, March 19th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. reissued a buy rating on shares of BioMarin Pharmaceutical in a report on Sunday, June 2nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the stock. Vertex Pharmaceuticals currently has a consensus rating of Buy and an average target price of $204.36.

Vertex Pharmaceuticals stock opened at $175.79 on Tuesday. The firm has a 50-day simple moving average of $175.45. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.78 and a quick ratio of 3.66. Vertex Pharmaceuticals has a 12-month low of $151.80 and a 12-month high of $195.81. The company has a market capitalization of $45.02 billion, a PE ratio of 62.12, a price-to-earnings-growth ratio of 2.59 and a beta of 1.43.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Tuesday, April 30th. The pharmaceutical company reported $1.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.49. Vertex Pharmaceuticals had a return on equity of 22.63% and a net margin of 66.01%. The business had revenue of $857.00 million during the quarter, compared to analysts’ expectations of $853.00 million. During the same period in the previous year, the business posted $0.76 earnings per share. The firm’s revenue for the quarter was up 34.3% compared to the same quarter last year. Equities analysts predict that Vertex Pharmaceuticals will post 3.06 EPS for the current fiscal year.

In other Vertex Pharmaceuticals news, CEO Jeffrey M. Leiden sold 10,480 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $175.08, for a total value of $1,834,838.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jeffrey M. Leiden sold 33,058 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $175.01, for a total value of $5,785,480.58. Following the completion of the sale, the chief executive officer now owns 136,953 shares in the company, valued at approximately $23,968,144.53. The disclosure for this sale can be found here. Insiders sold a total of 227,804 shares of company stock valued at $39,955,223 over the last quarter. 0.70% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Welch & Forbes LLC lifted its stake in Vertex Pharmaceuticals by 0.8% in the 2nd quarter. Welch & Forbes LLC now owns 175,927 shares of the pharmaceutical company’s stock valued at $32,261,000 after acquiring an additional 1,477 shares in the last quarter. Clark Capital Management Group Inc. lifted its stake in Vertex Pharmaceuticals by 44.2% in the 2nd quarter. Clark Capital Management Group Inc. now owns 1,839 shares of the pharmaceutical company’s stock valued at $337,000 after acquiring an additional 564 shares in the last quarter. HMS Capital Management LLC bought a new stake in Vertex Pharmaceuticals in the 2nd quarter valued at approximately $184,000. NN Investment Partners Holdings N.V. lifted its stake in Vertex Pharmaceuticals by 9.9% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 38,743 shares of the pharmaceutical company’s stock valued at $7,105,000 after acquiring an additional 3,479 shares in the last quarter. Finally, Evolution Wealth Advisors LLC bought a new stake in Vertex Pharmaceuticals in the 2nd quarter valued at approximately $32,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Incorporated engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene.

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Analyst Recommendations for Vertex Pharmaceuticals (NASDAQ:VRTX)

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