BidaskClub Lowers Vertex Pharmaceuticals (VRTX) to Sell

Vertex Pharmaceuticals (NASDAQ:VRTX) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Friday.

Other analysts have also recently issued reports about the stock. TheStreet upgraded shares of Vertex Pharmaceuticals from a “c+” rating to a “b-” rating in a report on Friday, March 2nd. JPMorgan Chase restated a “buy” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, January 9th. Deutsche Bank initiated coverage on shares of Vertex Pharmaceuticals in a report on Tuesday, December 12th. They set a “buy” rating and a $175.00 target price for the company. Cowen restated a “buy” rating and set a $200.00 target price on shares of Vertex Pharmaceuticals in a report on Monday, December 11th. Finally, Bank of America upgraded shares of Vertex Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $180.00 target price for the company in a report on Friday, January 5th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and twenty-five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $183.96.

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Shares of NASDAQ:VRTX opened at $162.98 on Friday. The company has a market cap of $41,379.32, a P/E ratio of 203.73, a price-to-earnings-growth ratio of 2.32 and a beta of 1.56. Vertex Pharmaceuticals has a 1-year low of $106.03 and a 1-year high of $178.25. 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 (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 firm had revenue of $651.63 million during the quarter, compared to analysts’ expectations of $592.49 million. Vertex Pharmaceuticals had a net margin of 10.59% and a return on equity of 11.02%. The firm’s revenue for the quarter was up 42.1% compared to the same quarter last year. During the same period last year, the firm posted $0.35 earnings per share. sell-side analysts anticipate that Vertex Pharmaceuticals will post 1.67 EPS for the current year.

Vertex Pharmaceuticals announced that its board has initiated a share repurchase program on Wednesday, January 31st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the pharmaceutical company to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

In other Vertex Pharmaceuticals news, Director Margaret G. Mcglynn sold 10,000 shares of the stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $170.00, for a total value of $1,700,000.00. Following the completion of the sale, the director now owns 16,312 shares in the company, valued at approximately $2,773,040. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Amit Sachdev sold 13,750 shares of the stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $175.00, for a total transaction of $2,406,250.00. Following the completion of the sale, the executive vice president now owns 60,412 shares of the company’s stock, valued at approximately $10,572,100. The disclosure for this sale can be found here. In the last quarter, insiders sold 355,677 shares of company stock valued at $56,885,296. Insiders own 1.80% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC raised its holdings in shares of Vertex Pharmaceuticals by 108.2% during the 4th quarter. Renaissance Technologies LLC now owns 2,847,917 shares of the pharmaceutical company’s stock valued at $426,789,000 after purchasing an additional 1,479,897 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in shares of Vertex Pharmaceuticals by 8,061.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 909,230 shares of the pharmaceutical company’s stock valued at $138,239,000 after purchasing an additional 898,089 shares in the last quarter. HealthCor Management L.P. raised its holdings in shares of Vertex Pharmaceuticals by 1,974.4% during the 4th quarter. HealthCor Management L.P. now owns 725,000 shares of the pharmaceutical company’s stock valued at $108,649,000 after purchasing an additional 690,050 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Vertex Pharmaceuticals by 90.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,203,221 shares of the pharmaceutical company’s stock valued at $180,315,000 after purchasing an additional 570,287 shares in the last quarter. Finally, Two Sigma Investments LP raised its holdings in shares of Vertex Pharmaceuticals by 102.7% during the 4th quarter. Two Sigma Investments LP now owns 912,724 shares of the pharmaceutical company’s stock valued at $136,781,000 after purchasing an additional 462,416 shares in the last quarter. Institutional investors own 94.48% of the company’s stock.

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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.

Analyst Recommendations for Vertex Pharmaceuticals (NASDAQ:VRTX)

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