The stock of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) is a huge mover today! About 720,987 shares traded hands. Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) has declined 3.51% since March 9, 2016 and is downtrending. It has underperformed by 10.92% the S&P500.
The move comes after 7 months positive chart setup for the $19.05B company. It was reported on Oct, 12 by Barchart.com. We have $106.03 PT which if reached, will make NASDAQ:VRTX worth $5.91B 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 27 analyst reports since July 31, 2015 according to StockzIntelligence Inc. Leerink Swann maintained Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) on Tuesday, March 8 with “Outperform” rating. The rating was upgraded by H.C. Wainwright on Friday, October 30 to “Buy”. Argus Research maintained the shares of VRTX in a report on Thursday, February 4 with “Buy” rating. The firm earned “Overweight” rating on Friday, October 2 by Morgan Stanley. The stock of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) has “Perform” rating given on Thursday, February 11 by Oppenheimer. RBC Capital Markets maintained Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) rating on Thursday, April 28. RBC Capital Markets has “Outperform” rating and $115 price target. Jefferies maintained Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) rating on Thursday, September 29. Jefferies has “Buy” rating and $104 price target. On Monday, August 24 the stock rating was upgraded by Vetr to “Hold”. The rating was upgraded by Vetr on Monday, August 17 to “Hold”. The firm has “Buy” rating given on Wednesday, October 5 by Jefferies.
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 is positive, 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.
Glenmede Tru Na accumulated 700 shares or 0% of the stock. Metropolitan Life Ins Ny last reported 139,553 shares in the company. Apg Asset Management Nv owns 314,178 shares or 0.05% of their US portfolio. Partner Investment Management Ltd Partnership holds 3,425 shares or 0.48% of its portfolio. First Allied Advisory Services Inc owns 8,940 shares or 0.04% of their US portfolio. Cornerstone Advsr Incorporated accumulated 460 shares or 0.04% of the stock. Partner Fund Mngmt L P holds 0.35% of its portfolio in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) for 135,487 shares. Endurance Wealth Management holds 6,100 shares or 0.1% of its portfolio. Tiverton Asset Mngmt Llc accumulated 1.04% or 340,016 shares. The New York-based Glg Limited Liability Com has invested 0.36% in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX). Gsa Capital Partners Llp last reported 2,667 shares in the company. Holland Mgmt Limited Company last reported 0.8% of its portfolio in the stock. Jgp Gestao De Recursos Ltda accumulated 7,231 shares or 0.12% of the stock. Moreover, Arrowpoint Asset Ltd Liability has 0.01% invested in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) for 3,886 shares. Rothschild Cap Prtn Limited Company last reported 3,888 shares in the company.
Insider Transactions: Since April 13, 2016, the stock had 0 buys, and 28 insider sales for $16.45 million net activity. 202 Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) shares with value of $16,576 were sold by Silva Paul M. BOGER JOSHUA S sold $753,474 worth of stock or 7,500 shares. Sachdev Amit sold $9,555 worth of stock or 117 shares. SMITH IAN F had sold 202 shares worth $16,576 on Monday, May 16. $104,444 worth of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) was sold by Arbuckle Stuart A on Monday, October 3.
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.
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