Vertex Pharmaceuticals Incorporated (VRTX) has risen sharply, recording gains of 12.55% in the past 4 weeks. However, the stock has corrected -0.88% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 11.4% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The stock has recorded a 20-day Moving Average of 5.1% and the 50-Day Moving Average is 10.33%. Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX): stock turned positive on Friday. Though the stock opened at $100.79, the bulls momentum made the stock top out at $101.65 level for the day. The stock recorded a low of $98.56 and closed the trading day at $101.53, in the green by 0.32%. The total traded volume for the day was 605,328. The stock had closed at $101.21 in the previous days trading.
The company Insiders own 1.8% of Vertex Pharmaceuticals Incorporated shares according to the proxy statements. Institutional Investors own 96.18% of Vertex Pharmaceuticals Incorporated shares. During last six month period, the net percent change held by insiders has seen a change of -3.03%. Also, Morgan Stanley maintains its view on Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) according to the research report released by the firm to its investors. The shares have now been rated Overweight by the stock experts at the ratings house. Morgan Stanley lowers the price target from $140 per share to $139 per share on Vertex Pharmaceuticals Incorporated. The rating by the firm was issued on July 28, 2016.
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.