Vertex Pharmaceuticals Incorporated (VRTX) : Money flow in the Vertex Pharmaceuticals Incorporated (VRTX) stock was negative (0.82 million) on Wednesday, which shows that the investors used the strength in the stock price to reduce their holdings. The total traded value on upticks was $3.01 million, compared to $3.83 million on downticks. The total uptick to downtick ratio was 0.79, indicating the underlying weakness in the stock. Even in block trades, money flow was negative ($0.27 million), indicating selling on the strength. The transaction value during uptick in block trades was $0.87 million. Downtick transaction value in block trades amounted to $1.15 million, indicating persistent selling. The uptick to downtick ratio was 0.76. Vertex Pharmaceuticals Incorporated (VRTX) traded $0.95 higher at $88.38 gaining 1.09% over the previous days close.
Also, Brokerage firm Goldman Sachs downgrades its rating on Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX). As per the latest information, the brokerage house lowers the price target to $88 per share from a prior target of $109. The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by the firm was issued on April 28, 2016.
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $87.30 and $86.53 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $91.22. The buying momentum continued till the end and the stock did not give up its gains. It closed at $91.15, notching a gain of 4.25% for the day. The total traded volume was 1,309,436 . The stock had closed at $87.43 on the previous day.
The stock has recorded a 20-day Moving Average of 4.74% and the 50-Day Moving Average is 3.58%. In a related news, Boger Joshua S, director of Vertex Pharmaceuticals Inc / Ma, unloaded 6,500 shares at an average price of $89.07 on July 13, 2016. The total amount of the transaction was worth $578,955, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
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.