Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Sees Large Growth in Short Interest

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Get Free Report) was the recipient of a significant growth in short interest in May. As of May 15th, there was short interest totalling 4,820,000 shares, a growth of 27.5% from the April 30th total of 3,780,000 shares. Based on an average daily trading volume, of 1,720,000 shares, the days-to-cover ratio is presently 2.8 days. Approximately 1.9% of the shares of the stock are sold short.

Vertex Pharmaceuticals Trading Down 0.1%

Shares of VRTX traded down $0.63 during mid-day trading on Wednesday, reaching $445.85. The stock had a trading volume of 840,145 shares, compared to its average volume of 1,416,315. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35. Vertex Pharmaceuticals has a 52-week low of $377.85 and a 52-week high of $519.88. The business's fifty day moving average is $467.45 and its 200 day moving average is $460.51. The firm has a market cap of $114.49 billion, a price-to-earnings ratio of -202.66, a P/E/G ratio of 2.11 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.29 by ($0.23). Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. The firm had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.85 billion. During the same period in the prior year, the company posted $4.76 EPS. The company's revenue for the quarter was up 2.6% compared to the same quarter last year. On average, sell-side analysts predict that Vertex Pharmaceuticals will post 15.63 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on VRTX shares. Scotiabank decreased their price target on shares of Vertex Pharmaceuticals from $450.00 to $442.00 and set a "sector perform" rating on the stock in a research note on Tuesday, May 6th. JPMorgan Chase & Co. upped their price target on shares of Vertex Pharmaceuticals from $512.00 to $515.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. The Goldman Sachs Group restated a "buy" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. HC Wainwright reiterated a "buy" rating and set a $550.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $535.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Fourteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Vertex Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus target price of $515.04.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP David Altshuler sold 3,231 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the completion of the transaction, the executive vice president now owns 26,512 shares in the company, valued at $13,256,000. This trade represents a 10.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.20% of the company's stock.

Institutional Investors Weigh In On Vertex Pharmaceuticals

A number of institutional investors have recently made changes to their positions in VRTX. Activest Wealth Management purchased a new position in shares of Vertex Pharmaceuticals in the first quarter valued at approximately $25,000. Clal Insurance Enterprises Holdings Ltd boosted its stake in shares of Vertex Pharmaceuticals by 450.0% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company's stock valued at $27,000 after purchasing an additional 45 shares during the period. Brown Lisle Cummings Inc. purchased a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at approximately $30,000. Mascagni Wealth Management Inc. purchased a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at approximately $31,000. Finally, Flaharty Asset Management LLC purchased a new position in shares of Vertex Pharmaceuticals in the first quarter valued at approximately $32,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.