The Vetr crowd on Thursday downgraded their rating for Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) from 3 stars (Hold), issued 13 days ago, to 1.5 stars (Strong Sell). Crowd sentiment at the time of the downgrade was unanimously cautious, with 100 percent of Vetr user ratings bearish.
Shares of Vertex saw a substantial 16 percent bump following news that the company's stage 3 trial of Tezacaftor/Ivacaftor treatment achieved its primary endpoint of improving lung function in cases of cystic fibrosis. This surge put the stock at a 52-week high above $111.60. It has since fallen slightly and, by today's close, the stock was at $107.47.
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With the announcement of the trial's success came two analyst upgrades, one from BMO Capital to Outperform and another from JMP Securities to Market Outperform.
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Currently, the Vetr crowd's average target price for the stock is down at $94.12, which is well below the average analyst target price of $104.22. Less than 2 percent of Vetr users are holding VRTX in their watch lists.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.