Rating Worth Mentioning: Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Hit With Downgrade by Barclays, Is This a Concern?

November 29, 2016 - By Ruchi Gupta

Rating Worth Mentioning: Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Hit With Downgrade by Barclays, Is This a Concern?

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Downgrade

Barclays cut shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) from a “Overweight” rating to a “Equal-Weight” rating in a a research note shared with investors on 29 November.

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Ratings Coverage

Out of 16 analysts covering Vertex Pharmaceuticals (NASDAQ:VRTX), 9 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 56% are positive. $160 is the highest target while $85 is the lowest. The $125.55 average target is 44.66% above today’s ($86.79) stock price. Vertex Pharmaceuticals has been the topic of 30 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The firm has “Perform” rating by Oppenheimer given on Thursday, February 11. The stock has “Buy” rating given by Nomura on Wednesday, September 16. William Blair downgraded the shares of VRTX in a report on Tuesday, November 1 to “Market Perform” rating. As per Tuesday, September 13, the company rating was initiated by Raymond James. RBC Capital Markets maintained Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) on Thursday, April 28 with “Outperform” rating. The stock of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) has “Outperform” rating given on Wednesday, January 20 by Credit Suisse. The firm has “Buy” rating given on Tuesday, December 1 by Stifel Nicolaus. The stock of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) has “Buy” rating given on Thursday, September 29 by Jefferies. The rating was downgraded by Goldman Sachs to “Neutral” on Thursday, April 28. The firm has “Overweight” rating given on Friday, October 2 by Morgan Stanley.

About 1.02 million shares traded hands. Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) has risen 3.28% since April 26, 2016 and is uptrending. It has underperformed by 1.98% the S&P500.

Analysts await Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) to report earnings on January, 25. They expect $0.01 earnings per share, up 150.00% or $0.03 from last year’s $-0.02 per share. VRTX’s profit will be $2.46M for 2169.75 P/E if the $0.01 EPS becomes a reality. After $-0.09 actual earnings per share reported by Vertex Pharmaceuticals Incorporated for the previous quarter, Wall Street now forecasts -111.11% EPS growth.

Insitutional Activity: The institutional sentiment decreased to 1.1 in 2016 Q2. Its down 0.04, from 1.14 in 2016Q1. The ratio dived, as 53 funds sold all Vertex Pharmaceuticals Incorporated shares owned while 139 reduced positions. 43 funds bought stakes while 176 increased positions. They now own 236.53 million shares or 0.67% less from 238.13 million shares in 2016Q1.

Allianz Asset Mngmt Ag has 372,830 shares for 0.02% of their US portfolio. Eulav Asset has 0.64% invested in the company for 136,000 shares. Kbc Nv has 0.12% invested in the company for 101,262 shares. Moreover, M&T Fincl Bank Corporation has 0.01% invested in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) for 15,413 shares. The Illinois-based Northern Corporation has invested 0.08% in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX). Vigilant Capital Mgmt Ltd Llc holds 0% or 251 shares in its portfolio. Private Advisor Group Inc Ltd Liability Corp holds 0.02% or 5,894 shares in its portfolio. Advisor Ltd Company owns 2,868 shares or 0.09% of their US portfolio. Moreover, Janus Management Limited Liability Corp has 0.04% invested in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) for 575,959 shares. Strs Ohio holds 0.13% or 346,339 shares in its portfolio. Financial Architects Inc, a New Jersey-based fund reported 57 shares. Checchi Advisers Limited Com has 0.02% invested in the company for 1,763 shares. The Texas-based Wfg Advsr Limited Partnership has invested 0% in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX). Royal Bank & Trust Of Canada accumulated 0.01% or 131,593 shares. Blue Jay Cap Mgmt Ltd Liability Corp has 7.09% invested in the company for 125,450 shares.

Insider Transactions: Since June 8, 2016, the stock had 0 insider buys, and 30 selling transactions for $18.22 million net activity. $562,043 worth of shares were sold by BOGER JOSHUA S on Wednesday, November 23. Silva Paul M sold $460,556 worth of stock. Sachdev Amit sold $10,830 worth of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) on Tuesday, November 15. Another trade for 1,208 shares valued at $108,720 was sold by Arbuckle Stuart A.

Vertex Pharmaceuticals Incorporated is engaged in the business of discovering, developing, manufacturing and commercializing medicines for serious diseases. The company has a market cap of $21.31 billion. The Firm operates in pharmaceuticals segment. It currently has negative earnings. The Company’s business is focused on developing and commercializing therapies for the treatment of cystic fibrosis and advancing its research and development programs in other indications.

According to Zacks Investment Research, “Vertex Pharmaceuticals Inc. discovers, develops and markets small molecule drugs that address major unmet medical needs. The company has eight drug candidates in clinical development to treat viral diseases, inflammation, cancer, autoimmune diseases and neurological disorders. Vertex has created its pipeline using a proprietary information-based approach to drug design that integrates multiple technologies in biology, chemistry and biophysics aimed at increasing the speed and success rate of drug discovery. (PRESS RELEASE)”

VRTX Company Profile

Vertex Pharmaceuticals Incorporated (Vertex), incorporated on January 4, 1989, is engaged in the business of discovering, developing, manufacturing and commercializing medicines for serious diseases. The Firm operates in pharmaceuticals segment. The Company’s business is focused on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs in other indications. Vertex’s two marketed medicines are ORKAMBI and KALYDECO, which are approved to treat patients with CF having specific mutations in their CF transmembrane conductance regulator (CFTR) gene. It has multiple development programs in the field of CF, including VX-661, VX-371, and VX-152 and VX-440. The Company’s VX-661 is a corrector compound that the Company is evaluating a Phase III development program in combination with ivacaftor in multiple CF patient populations having approximately one copy of the F508del mutation in their CFTR gene. The Company’s VX-371 is an investigational epithelial sodium channel (ENaC) inhibitor that is being evaluated in a Phase II development program. The Company’s VX-152 and VX-440 are two next-generation CFTR corrector compounds that entered Phase I clinical trials.

More notable recent Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) news were published by: Fool.com which released: “Vertex Pharmaceuticals Incorporated Pushes Forward With Drug Combinations (and …” on October 27, 2016, also Fool.com with their article: “Why Vertex Pharmaceuticals Incorporated Stock Dipped 11% in March” published on April 11, 2016, Fool.com published: “Can Vertex Pharmaceuticals Incorporated Bounce Back From Its 28.9% Drop?” on July 06, 2016. More interesting news about Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) were released by: Fool.com and their article: “These 2 Catalysts Lifted Vertex Pharmaceuticals Incorporated 13% in July” published on August 10, 2016 as well as Fool.com‘s news article titled: “Vertex Pharmaceuticals Incorporated Prepares for (More) Growth” with publication date: August 02, 2016.

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