Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) has tumbled 5.2% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 2.4% in the last four weeks. The stocks have underperformed the S&P 500 by 4.07% during the past week but Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) it has outperformed the index in 4 weeks by 1.46%.
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX): The stock opened at $90.46 on Friday but the bulls could not build on the opening and the stock topped out at $91.24 for the day. The stock traded down to $85.88 during the day, due to lack of any buying support eventually closed down at $86.73 with a loss of -4.07% for the day. The stock had closed at $90.41 on the previous day. The total traded volume was 2,658,851 shares.
The company shares have dropped -32.26% from its 1 Year high price. On Aug 10, 2015, the shares registered one year high at $143.45 and the one year low was seen on Mar 17, 2016. The 50-Day Moving Average price is $87.75 and the 200 Day Moving Average price is recorded at $94.32.
On the companys insider trading activities, The director, of Vertex Pharmaceuticals Inc / Ma, Boger Joshua S had unloaded 5,130 shares at $91.18 per share in a transaction on June 15, 2016. The total value of transaction was $467,753. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.
Many analysts have stated their opinion on the company shares. Goldman Sachs downgrades its rating on Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX). The global brokerage major lowers the current price target from $109 per share to $88 per share. Analysts at the Goldman Sachs have a current rating of Neutral on the shares. The shares were previously rated Buy. The rating by the firm was issued on April 28, 2016. Currently the company Insiders own 1.8% of Vertex Pharmaceuticals Incorporated shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -3.03% . Institutional Investors own 97.01% of Vertex Pharmaceuticals Incorporated shares. During last six month period, the net percent change held by insiders has seen a change of -3.03%.
Vertex Pharmaceuticals Incorporated (Vertex) is a global biotechnology company. The Company is engaged in the business of discovering, developing, manufacturing and commercializing small molecule drugs. The Company uses precision medicine approaches to create transformative drugs for patients with serious diseases in specialty markets. Vertexs business is focused on developing and commercializing therapies for the treatment of cystic fibrosis (CF). It is also engaged in other research and early-stage development programs, including programs in the areas of oncology and neurology. The Companys product candidates include KALYDECO (ivacaftor), Lumacaftor in combination with Ivacaftor, VX-661 in combination with Ivacaftor, VX-803, VX-970 and VX-222. The Companys product KALYDECO is available in the market.