Trade Report: Today, Vertex Pharmaceuticals Inc. (VRTX) Decreased to Equal Weight at Barclays PLC

Today, Vertex Pharmaceuticals Inc. (VRTX) Decreased to Equal Weight at Barclays PLC

Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) was downgraded by investment analysts at Barclays PLC from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Tuesday.

A number of other brokerages have also recently commented on VRTX. Citigroup Inc. started coverage on shares of Vertex Pharmaceuticals in a research report on Tuesday, September 13th. They issued a “market perform” rating on the stock. They noted that the move was a valuation call. Raymond James Financial Inc. started coverage on shares of Vertex Pharmaceuticals in a research report on Tuesday, September 13th. They issued a “market perform” rating on the stock. Zacks Investment Research cut shares of Vertex Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 27th. Jefferies Group reiterated a “buy” rating and issued a $105.00 target price on shares of Vertex Pharmaceuticals in a research report on Friday, October 21st. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Vertex Pharmaceuticals in a research report on Wednesday, October 5th. Seventeen analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Vertex Pharmaceuticals has an average rating of “Hold” and an average target price of $108.13.

Vertex Pharmaceuticals (NASDAQ:VRTX) opened at 86.90 on Tuesday. The stock’s 50 day moving average is $83.91 and its 200-day moving average is $89.91. Vertex Pharmaceuticals has a 52-week low of $73.31 and a 52-week high of $132.81. The company’s market cap is $21.55 billion.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Tuesday, October 25th. The pharmaceutical company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by $0.02. Vertex Pharmaceuticals had a negative return on equity of 5.31% and a negative net margin of 13.45%. The company had revenue of $413.78 million for the quarter, compared to the consensus estimate of $423.53 million. During the same period in the prior year, the firm posted ($0.13) earnings per share. The business’s revenue was up 33.6% on a year-over-year basis. Equities research analysts predict that Vertex Pharmaceuticals will post $0.78 EPS for the current fiscal year.

In other Vertex Pharmaceuticals news, Director Joshua S. Boger sold 6,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 31st. The shares were sold at an average price of $94.62, for a total value of $615,030.00. Following the completion of the transaction, the director now directly owns 274,725 shares in the company, valued at $25,994,479.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Paul M. Silva sold 5,062 shares of the company’s stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $90.98, for a total transaction of $460,540.76. Following the completion of the transaction, the senior vice president now owns 17,125 shares of the company’s stock, valued at $1,558,032.50. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. FMR LLC raised its position in Vertex Pharmaceuticals by 46.9% in the second quarter. FMR LLC now owns 22,227,104 shares of the pharmaceutical company’s stock worth $1,911,975,000 after buying an additional 7,092,351 shares during the last quarter. Jennison Associates LLC raised its position in Vertex Pharmaceuticals by 74.2% in the third quarter. Jennison Associates LLC now owns 5,180,761 shares of the pharmaceutical company’s stock worth $451,814,000 after buying an additional 2,205,961 shares during the last quarter. TimesSquare Capital Management LLC purchased a new position in Vertex Pharmaceuticals during the second quarter worth $61,066,000. Capital World Investors raised its position in Vertex Pharmaceuticals by 2.8% in the third quarter. Capital World Investors now owns 22,292,383 shares of the pharmaceutical company’s stock worth $1,944,119,000 after buying an additional 599,586 shares during the last quarter. Finally, Eaton Vance Management raised its position in Vertex Pharmaceuticals by 142.8% in the second quarter. Eaton Vance Management now owns 994,957 shares of the pharmaceutical company’s stock worth $85,586,000 after buying an additional 585,172 shares during the last quarter. Institutional investors and hedge funds own 95.39% of the company’s stock.

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