Vertex Pharmaceuticals (VRTX) Downgraded by BidaskClub to “Sell”

BidaskClub lowered shares of Vertex Pharmaceuticals (NASDAQ:VRTX) from a hold rating to a sell rating in a research report sent to investors on Saturday.

A number of other brokerages also recently weighed in on VRTX. HC Wainwright reiterated a hold rating and issued a $103.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday, February 13th. Oppenheimer boosted their price objective on Vertex Pharmaceuticals from $175.00 to $190.00 and gave the company an outperform rating in a report on Thursday, January 4th. Bank of America restated a buy rating and set a $180.00 price objective on shares of Vertex Pharmaceuticals in a report on Tuesday, January 23rd. Zacks Investment Research upgraded Vertex Pharmaceuticals from a hold rating to a strong-buy rating and set a $176.00 price objective for the company in a report on Monday, January 8th. Finally, Leerink Swann restated an outperform rating and set a $190.00 price objective (up previously from $175.00) on shares of Vertex Pharmaceuticals in a report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $184.29.

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Shares of VRTX stock opened at $158.15 on Friday. The company has a market capitalization of $40,309.11, a price-to-earnings ratio of 200.19, a price-to-earnings-growth ratio of 2.14 and a beta of 1.49. The company has a quick ratio of 3.14, a current ratio of 3.28 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals has a fifty-two week low of $113.66 and a fifty-two week high of $178.25.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Wednesday, January 31st. The pharmaceutical company reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.08. The business had revenue of $651.63 million during the quarter, compared to the consensus estimate of $592.49 million. Vertex Pharmaceuticals had a return on equity of 11.02% and a net margin of 10.59%. The firm’s revenue for the quarter was up 42.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 earnings per share. research analysts anticipate that Vertex Pharmaceuticals will post 1.76 earnings per share for the current year.

Vertex Pharmaceuticals announced that its Board of Directors has initiated a stock buyback program on Wednesday, January 31st that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the pharmaceutical company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

In other Vertex Pharmaceuticals news, Director Margaret G. Mcglynn sold 20,000 shares of the business’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $162.50, for a total value of $3,250,000.00. Following the transaction, the director now owns 16,217 shares of the company’s stock, valued at $2,635,262.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Amit Sachdev sold 46,172 shares of the business’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $158.65, for a total value of $7,325,187.80. Following the completion of the transaction, the executive vice president now directly owns 57,835 shares in the company, valued at approximately $9,175,522.75. The disclosure for this sale can be found here. Insiders have sold 207,052 shares of company stock valued at $33,574,578 in the last quarter. 1.80% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. Atria Investments LLC boosted its position in Vertex Pharmaceuticals by 7.9% in the fourth quarter. Atria Investments LLC now owns 4,765 shares of the pharmaceutical company’s stock worth $714,000 after purchasing an additional 350 shares during the last quarter. Hanseatic Management Services Inc. boosted its position in Vertex Pharmaceuticals by 9.0% in the fourth quarter. Hanseatic Management Services Inc. now owns 5,092 shares of the pharmaceutical company’s stock worth $763,000 after purchasing an additional 419 shares during the last quarter. Creative Planning boosted its position in Vertex Pharmaceuticals by 13.3% in the fourth quarter. Creative Planning now owns 4,363 shares of the pharmaceutical company’s stock worth $654,000 after purchasing an additional 513 shares during the last quarter. Lazard Asset Management LLC boosted its position in Vertex Pharmaceuticals by 0.3% in the fourth quarter. Lazard Asset Management LLC now owns 173,986 shares of the pharmaceutical company’s stock worth $26,073,000 after purchasing an additional 564 shares during the last quarter. Finally, DnB Asset Management AS boosted its position in Vertex Pharmaceuticals by 2.3% in the fourth quarter. DnB Asset Management AS now owns 26,280 shares of the pharmaceutical company’s stock worth $3,938,000 after purchasing an additional 600 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

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Vertex Pharmaceuticals Company Profile

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.

Analyst Recommendations for Vertex Pharmaceuticals (NASDAQ:VRTX)

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