U.S. Markets closed

Vetr Turns Bearish On Vertex After Drug Trial Success

Chris Dier-Scalise

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.

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.

Learn how crowdsourced ratings could help you time the market.

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.

Latest Ratings for VRTX

Date Firm Action From To
Mar 2017 BMO Capital Upgrades Market Perform Outperform
Mar 2017 JMP Securities Upgrades Market Perform Market Outperform
Dec 2016 Oppenheimer Initiates Coverage On Perform

View More Analyst Ratings for VRTX
View the Latest Analyst Ratings

See more from Benzinga

© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.