Barclays Lowers Vertex Pharmaceuticals (NASDAQ:VRTX) to Equal Weight

Barclays lowered shares of Vertex Pharmaceuticals (NASDAQ:VRTX) from an overweight rating to an equal weight rating in a report published on Monday morning, Marketbeat.com reports. The brokerage currently has $509.00 price target on the pharmaceutical company’s stock, up from their previous price target of $472.00.

Other equities analysts have also recently issued reports about the company. Redburn Atlantic initiated coverage on Vertex Pharmaceuticals in a research note on Thursday, June 27th. They set a buy rating and a $545.00 price objective on the stock. Wells Fargo & Company boosted their price objective on Vertex Pharmaceuticals from $540.00 to $555.00 and gave the stock an overweight rating in a research report on Monday, June 24th. TD Cowen increased their target price on shares of Vertex Pharmaceuticals from $450.00 to $500.00 and gave the company a buy rating in a research report on Tuesday, July 23rd. Cantor Fitzgerald reaffirmed an overweight rating and set a $480.00 price target on shares of Vertex Pharmaceuticals in a research note on Friday, August 2nd. Finally, Needham & Company LLC reaffirmed a hold rating on shares of Vertex Pharmaceuticals in a research note on Friday, July 26th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of Hold and a consensus target price of $485.91.

Vertex Pharmaceuticals Stock Up 0.0 %

Shares of VRTX opened at $465.96 on Monday. The company’s fifty day moving average is $481.15 and its two-hundred day moving average is $440.75. Vertex Pharmaceuticals has a fifty-two week low of $340.83 and a fifty-two week high of $510.64. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 0.02. The firm has a market cap of $120.26 billion, a PE ratio of 30.24 and a beta of 0.39.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same quarter last year, the business posted $3.53 EPS. Vertex Pharmaceuticals’s quarterly revenue was up 6.1% compared to the same quarter last year. Analysts forecast that Vertex Pharmaceuticals will post -1.02 earnings per share for the current year.

Insider Activity at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs sold 7,073 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $448.00, for a total value of $3,168,704.00. Following the sale, the director now owns 40,000 shares of the company’s stock, valued at $17,920,000. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Bruce I. Sachs sold 7,073 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $448.00, for a total value of $3,168,704.00. Following the transaction, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $17,920,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bruce I. Sachs sold 5,295 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $508.00, for a total value of $2,689,860.00. Following the transaction, the director now owns 40,000 shares in the company, valued at $20,320,000. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,703 shares of company stock valued at $26,615,855. 0.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Vertex Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC increased its position in Vertex Pharmaceuticals by 21,750.1% in the fourth quarter. International Assets Investment Management LLC now owns 115,150 shares of the pharmaceutical company’s stock worth $46,853,000 after buying an additional 114,623 shares during the last quarter. Allworth Financial LP increased its position in shares of Vertex Pharmaceuticals by 5.4% in the fourth quarter. Allworth Financial LP now owns 1,143 shares of the pharmaceutical company’s stock worth $465,000 after purchasing an additional 59 shares during the last quarter. Prime Capital Investment Advisors LLC raised its position in shares of Vertex Pharmaceuticals by 105.3% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 3,394 shares of the pharmaceutical company’s stock valued at $1,381,000 after buying an additional 1,741 shares in the last quarter. Stratos Wealth Partners LTD. raised its position in Vertex Pharmaceuticals by 3.7% during the fourth quarter. Stratos Wealth Partners LTD. now owns 3,126 shares of the pharmaceutical company’s stock valued at $1,272,000 after purchasing an additional 111 shares in the last quarter. Finally, Arlington Trust Co LLC lifted its position in Vertex Pharmaceuticals by 97.1% in the 4th quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock worth $27,000 after buying an additional 33 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.