Vertex Pharmaceuticals (NASDAQ:VRTX) Earns Sell Rating from Canaccord Genuity Group

Canaccord Genuity Group restated their sell rating on shares of Vertex Pharmaceuticals (NASDAQ:VRTX) in a research report released on Friday, Benzinga reports. Canaccord Genuity Group currently has a $371.00 price target on the pharmaceutical company’s stock.

Other research analysts also recently issued reports about the company. Cantor Fitzgerald reiterated an overweight rating and set a $440.00 price objective on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 20th. Sanford C. Bernstein downgraded shares of Vertex Pharmaceuticals from an outperform rating to a market perform rating in a research report on Friday, February 2nd. Canaccord Genuity Group downgraded shares of Vertex Pharmaceuticals from a hold rating to a sell rating and upped their target price for the stock from $332.00 to $379.00 in a report on Wednesday, January 24th. Wolfe Research assumed coverage on Vertex Pharmaceuticals in a research report on Thursday, February 15th. They issued an outperform rating and a $515.00 price objective on the stock. Finally, Wells Fargo & Company increased their target price on Vertex Pharmaceuticals from $500.00 to $540.00 and gave the stock an overweight rating in a research report on Tuesday, February 6th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $424.62.

Vertex Pharmaceuticals Stock Up 0.2 %

VRTX opened at $397.36 on Friday. The firm’s 50 day simple moving average is $415.72 and its two-hundred day simple moving average is $396.46. The company has a market capitalization of $102.70 billion, a PE ratio of 28.61, a PEG ratio of 2.16 and a beta of 0.35. Vertex Pharmaceuticals has a 1-year low of $316.43 and a 1-year high of $448.40. The company has a current ratio of 3.99, a quick ratio of 3.78 and a debt-to-equity ratio of 0.02.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, February 5th. The pharmaceutical company reported $4.20 EPS for the quarter, topping analysts’ consensus estimates of $3.85 by $0.35. Vertex Pharmaceuticals had a return on equity of 21.91% and a net margin of 36.68%. The company had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same period last year, the firm earned $3.33 EPS. As a group, equities analysts forecast that Vertex Pharmaceuticals will post 14.95 EPS for the current year.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, EVP Amit Sachdev sold 3,222 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $420.24, for a total transaction of $1,354,013.28. Following the transaction, the executive vice president now directly owns 74,364 shares in the company, valued at approximately $31,250,727.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Chairman Jeffrey M. Leiden sold 2,656 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $419.51, for a total transaction of $1,114,218.56. Following the sale, the chairman now owns 27,644 shares of the company’s stock, valued at $11,596,934.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Amit Sachdev sold 3,222 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $420.24, for a total value of $1,354,013.28. Following the sale, the executive vice president now owns 74,364 shares of the company’s stock, valued at approximately $31,250,727.36. The disclosure for this sale can be found here. Insiders have sold 12,381 shares of company stock worth $5,203,249 in the last ninety days. 0.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Vertex Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Venturi Wealth Management LLC lifted its position in Vertex Pharmaceuticals by 1.1% in the fourth quarter. Venturi Wealth Management LLC now owns 2,293 shares of the pharmaceutical company’s stock valued at $933,000 after acquiring an additional 24 shares during the last quarter. Nicholas Hoffman & Company LLC. boosted its position in shares of Vertex Pharmaceuticals by 3.9% in the 4th quarter. Nicholas Hoffman & Company LLC. now owns 636 shares of the pharmaceutical company’s stock valued at $259,000 after purchasing an additional 24 shares during the period. Hohimer Wealth Management LLC grew its stake in Vertex Pharmaceuticals by 0.8% during the 4th quarter. Hohimer Wealth Management LLC now owns 2,932 shares of the pharmaceutical company’s stock worth $1,193,000 after buying an additional 24 shares during the last quarter. Johnson Financial Group Inc. increased its position in Vertex Pharmaceuticals by 2.5% during the fourth quarter. Johnson Financial Group Inc. now owns 1,001 shares of the pharmaceutical company’s stock worth $407,000 after buying an additional 24 shares during the period. Finally, Arthur M. Cohen & Associates LLC lifted its stake in Vertex Pharmaceuticals by 3.2% in the fourth quarter. Arthur M. Cohen & Associates LLC now owns 800 shares of the pharmaceutical company’s stock valued at $326,000 after buying an additional 25 shares during the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.