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Vertex's Rocky September Causes Vetr To Urge Sell

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The Vetr crowd on Wednesday downgraded its rating of Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) from 5 stars (Strong Buy), issued 15 days ago, to 1 star (Strong Sell). Crowd sentiment at the time of the downgrade was generally cautious, with 68 percent of Vetr user ratings bearish.

Vetr's downgrade comes as share price in Vertex hit a September low, closing Wednesday's session at $152.72. The stock has experienced a steady downward trend throughout the month after peaking at $163.15, close to its all-time high of $166.11 set last July.

This negative price trend was exacerbated when, on Sept. 11, the company announced it would be shutting down a study it was conducting toward a long-acting Kalydeco to treat cystic fibrosis. However, the pharmaceutical company insists that development of the treatment is still progressing.

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Currently, the Vetr crowd's average price target on Vertex is down at $140.20, which is still well above the average analyst price target of $108.10. Less than 2 percent of Vetr users are holding VRTX in their watch-lists.

Latest Ratings for VRTX

DateFirmActionFromTo
Apr 2018Morgan StanleyMaintainsOverweightOverweight
Mar 2018Maxim GroupMaintainsBuyBuy
Feb 2018JMP SecuritiesMaintainsMarket OutperformMarket Outperform

View More Analyst Ratings for VRTX
View the Latest Analyst Ratings

Posted-In: VetrBiotech Downgrades Price Target Crowdsourcing Analyst Ratings General

 

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