The stock of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) is a huge mover today! The stock increased 2.60% or $2.21 during the last trading session, hitting $87.21. About 2.55M shares traded hands or 87.50% up from the average. Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) has declined 2.30% since February 26, 2016 and is downtrending. It has underperformed by 12.72% the S&P500.
The move comes after 6 months positive chart setup for the $20.67 billion company. It was reported on Oct, 1 by Barchart.com. We have $137.79 PT which if reached, will make NASDAQ:VRTX worth $11.99 billion more.
Analysts await Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) to report earnings on October, 26.
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Ratings Coverage
Out of 14 analysts covering Vertex Pharmaceuticals (NASDAQ:VRTX), 10 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 71% are positive. Vertex Pharmaceuticals has been the topic of 26 analyst reports since July 31, 2015 according to StockzIntelligence Inc. Raymond James initiated the shares of VRTX in a report on Tuesday, September 13 with “Mkt Perform” rating. Barclays Capital upgraded it to “Overweight” rating and $150 target price in Monday, September 14 report. Vetr upgraded Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) rating on Monday, August 17. Vetr has “Hold” rating and $142.57 price target. The firm has “Outperform” rating given on Wednesday, January 20 by Credit Suisse. Stifel Nicolaus initiated Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) rating on Tuesday, December 1. Stifel Nicolaus has “Buy” rating and $160 price target. On Thursday, April 28 the stock rating was downgraded by Goldman Sachs to “Neutral”. Leerink Swann maintained it with “Outperform” rating and $128 target price in Tuesday, March 8 report. The firm has “Buy” rating given on Wednesday, September 16 by Nomura. The firm has “Outperform” rating by Leerink Swann given on Friday, February 5. Vetr upgraded the stock to “Buy” rating in Tuesday, September 1 report.
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)”
Insitutional Activity: The institutional sentiment increased to 1.14 in Q2 2016. Its up 0.18, from 0.96 in 2016Q1. The ratio improved, 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.
Diam Co Ltd reported 71,291 shares or 0.09% of all its holdings. Advisor Partners Limited Liability Co owns 2,868 shares or 0.09% of their US portfolio. Morgan Stanley accumulated 0.01% or 196,559 shares. National Bank & Trust Of Montreal Can last reported 172,934 shares in the company. Partner Fund Mgmt L P, a California-based fund reported 135,487 shares. Cullinan Associates Inc last reported 128,010 shares in the company. Dai Ichi Life Insurance Ltd accumulated 0.09% or 35,510 shares. Sumitomo Mitsui Trust Holdg Inc, a Japan-based fund reported 685,487 shares. Timessquare Capital Management Ltd Co, a New York-based fund reported 709,910 shares. The Massachusetts-based Wellington Management Grp Inc Inc Llp has invested 0.31% in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX). Quantres Asset Management accumulated 3,100 shares or 0.17% of the stock. Wilbanks Smith And Thomas Asset Management Llc has invested 0.03% of its portfolio in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX). Bb&T Securities Limited Liability Co holds 0.01% of its portfolio in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) for 6,712 shares. State Board Of Administration Of Florida Retirement Systems has invested 0.1% of its portfolio in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX). Fisher Asset Management Limited Liability Com holds 0% of its portfolio in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) for 5,112 shares.
Insider Transactions: Since April 6, 2016, the stock had 0 insider buys, and 27 insider sales for $16.10 million net activity. 5,130 shares were sold by BOGER JOSHUA S, worth $457,019 on Wednesday, May 25. Another trade for 202 shares valued at $16,576 was made by SMITH IAN F on Monday, May 16. Sachdev Amit sold 117 shares worth $9,555. $16,576 worth of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) was sold by Silva Paul M.
Another recent and important Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) news was published by Streetinsider.com which published an article titled: “Vertex Pharma (VRTX) Announces FDA Approval for ORKAMBI in Children 6-11 …” on September 28, 2016.
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.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.