Market Runner: Could Vertex Pharmaceuticals Incorporated Gain Strenght? The Stock Reaches Yearly Low

Market Runner: Could Vertex Pharmaceuticals Incorporated Gain Strenght? The Stock Reaches Yearly Low

The stock of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) hit a new 52-week low and has $71.75 target or 8.00% below today’s $77.99 share price. The 7 months bearish chart indicates high risk for the $19.84B company. The 1-year low was reported on Nov, 2 by Barchart.com. If the $71.75 price target is reached, the company will be worth $1.59 billion 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 2.58 million shares traded hands or 36.51% up from the average. Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) has declined 2.03% since March 31, 2016 and is downtrending. It has underperformed by 4.55% the S&P500.

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Ratings Coverage

Out of 15 analysts covering Vertex Pharmaceuticals (NASDAQ:VRTX), 9 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 60% are positive. Vertex Pharmaceuticals has been the topic of 29 analyst reports since July 31, 2015 according to StockzIntelligence Inc. As per Thursday, September 15, the company rating was maintained by Stifel Nicolaus. The firm has “Buy” rating by Jefferies given on Wednesday, October 5. The company was maintained on Tuesday, March 8 by Leerink Swann. As per Thursday, April 7, the company rating was initiated by BMO Capital Markets. The firm has “Buy” rating given on Tuesday, September 1 by Vetr. As per Tuesday, November 1, the company rating was downgraded by William Blair. The firm has “Hold” rating given on Wednesday, September 9 by Jefferies. The stock of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) earned “Buy” rating by Nomura on Wednesday, September 16. The company was initiated on Thursday, February 11 by Oppenheimer. The company was upgraded on Monday, August 24 by Vetr.

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.
Fjarde Ap holds 0.11% or 57,361 shares in its portfolio. Andra Ap, a Alabama-based fund reported 12,600 shares. Td Asset accumulated 0.07% or 445,391 shares. Moreover, State Board Of Administration Of Florida Retirement Systems has 0.1% invested in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) for 367,922 shares. Toronto Dominion Comml Bank last reported 0% of its portfolio in the stock. The New York-based Fred Alger Mgmt has invested 0.73% in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX). The Massachusetts-based Pioneer Management has invested 0.35% in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX). Princeton Management reported 25,322 shares or 1.5% of all its holdings. The Maryland-based Clearbridge Limited Liability has invested 0% in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX). Franklin Inc has 1.03 million shares for 0.05% of their US portfolio. Opus Point Management Limited Liability Corporation accumulated 30,248 shares or 2.51% of the stock. Dekabank Deutsche Girozentrale has 0.24% invested in the company for 251,401 shares. Bb Biotech Ag has 4.81% invested in the company for 1.42 million shares. Exxonmobil Inv Mngmt Tx accumulated 0.12% or 64,027 shares. Hl Serv Ltd Llc reported 3,225 shares or 0.01% of all its holdings.

Insider Transactions: Since May 4, 2016, the stock had 0 buys, and 28 insider sales for $16.75 million net activity. BOGER JOSHUA S sold $623,549 worth of stock. Shares for $16,576 were sold by SMITH IAN F. Silva Paul M sold 202 shares worth $16,576. Sachdev Amit had sold 117 shares worth $9,555 on Monday, May 16. $104,444 worth of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) was sold by Arbuckle Stuart A.

More news for Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) were recently published by: Schaeffersresearch.com, which released: “Analyst Downgrades: Juniper Networks, Inc., Level 3 Communications, Inc., and …” on November 01, 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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