The stock of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) hit a new 52-week low and has $73.62 target or 5.00% below today’s $77.49 share price. The 8 months bearish chart indicates high risk for the $18.50B company. The 1-year low was reported on Oct, 28 by Barchart.com. If the $73.62 price target is reached, the company will be worth $925.00M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 2.49M shares traded hands or 40.68% up from the average. Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) has declined 3.63% since March 28, 2016 and is downtrending. It has underperformed by 8.35% the S&P500.
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Ratings Coverage
Out of 14 analysts covering Vertex Pharmaceuticals (NASDAQ:VRTX), 9 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 64% are positive. Vertex Pharmaceuticals has been the topic of 28 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The company was downgraded on Monday, October 24 by H.C. Wainwright. The stock of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) has “Buy” rating given on Tuesday, December 1 by Stifel Nicolaus. Stifel Nicolaus maintained Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) on Thursday, September 15 with “Buy” rating. Goldman Sachs downgraded the shares of VRTX in a report on Thursday, April 28 to “Neutral” rating. On Friday, February 5 the stock rating was initiated by Leerink Swann with “Outperform”. Jefferies initiated Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) on Wednesday, September 9 with “Hold” rating. The firm earned “Overweight” rating on Monday, September 14 by Barclays Capital. Vetr upgraded the shares of VRTX in a report on Tuesday, September 1 to “Buy” rating. The firm has “Overweight” rating given on Friday, October 2 by Morgan Stanley. The firm earned “Perform” rating on Thursday, February 11 by Oppenheimer.
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 2016 Q2. 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.
Rothschild Prns Ltd Llc has 3,888 shares for 0.18% of their US portfolio. Teachers holds 436,020 shares or 0.07% of its portfolio. Qs Investors Limited owns 6,786 shares or 0% of their US portfolio. Pillar Pacific Mngmt has 2,494 shares for 0.04% of their US portfolio. Blackrock Limited accumulated 2.34 million shares or 0.1% of the stock. Holland Capital Mgmt Ltd last reported 0.8% of its portfolio in the stock. Johnson Inv Counsel owns 28,914 shares or 0.08% of their US portfolio. Moreover, Van Eck Associates Corp has 0.11% invested in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) for 256,402 shares. Bp Public Ltd Co has 15,000 shares for 0.05% of their US portfolio. Moreover, Perceptive Ltd Liability has 0.78% invested in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) for 130,000 shares. Louisiana State Employees Retirement Systems reported 16,200 shares or 0.07% of all its holdings. Thrivent For Lutherans last reported 1.10M shares in the company. Shell Asset holds 0.06% or 31,059 shares in its portfolio. Euclid Advsr Lc, a Connecticut-based fund reported 5,810 shares. Alliancebernstein Ltd Partnership last reported 0.03% of its portfolio in the stock.
Insider Transactions: Since May 4, 2016, the stock had 0 insider buys, and 28 selling transactions for $16.65 million net activity. BOGER JOSHUA S had sold 5,130 shares worth $467,753 on Wednesday, June 15. $16,576 worth of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) was sold by SMITH IAN F. Shares for $104,444 were sold by Arbuckle Stuart A. Silva Paul M had sold 202 shares worth $16,576 on Monday, May 16. On Monday, May 16 the insider Sachdev Amit sold $9,555.
More news for Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) were recently published by: Fool.com, which released: “Vertex Pharmaceuticals Incorporated Pushes Forward With Drug Combinations (and …” on October 27, 2016. Nasdaq.com‘s article titled: “Earnings Reaction History: Vertex Pharmaceuticals Incorporated, 55.6% Follow …” and published on October 25, 2016 is yet another important article.
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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