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Barclays gives an Equal weight recommendation for Vertex Pharmaceuticals, Inc. (VRTX)

In a filing, Vertex Pharmaceuticals, Inc. revealed its Executive Chairman LEIDEN JEFFREY M unloaded Company’s shares for reported $1.89 million on Aug 30 ’24. In the deal valued at $499.00 per share,3,784 shares were sold. As a result of this transaction, LEIDEN JEFFREY M now holds 9,994 shares worth roughly $4.65 million.

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Then, Bhatia Sangeeta N. sold 646 shares, generating $323,000 in total proceeds. Upon selling the shares at $500.00, the Director now owns 4,435 shares.

Before that, Bhatia Sangeeta N. bought 646 shares. Vertex Pharmaceuticals, Inc. shares valued at $323,000 were divested by the Director at a price of $500.00 per share.

Barclays downgraded its Vertex Pharmaceuticals, Inc. [VRTX] rating to an Equal weight from a an Overweight in a research note published on August 05, 2024; the price target was increased to $509 from $472. A number of analysts have revised their coverage, including Redburn Atlantic’s analysts, who began to cover the stock in late June with a ‘”a Buy”‘ rating. Evercore ISI also remained covering VRTX and has increased its forecast on April 11, 2024 with a “an Outperform” recommendation from previously “an In-line” rating. Wolfe Research started covering the stock on February 15, 2024. It rated VRTX as “an Outperform”.

Price Performance Review of VRTX

On Friday, Vertex Pharmaceuticals, Inc. [NASDAQ:VRTX] saw its stock fall -2.72% to $464.92. Over the last five days, the stock has lost -4.21%. Vertex Pharmaceuticals, Inc. shares have risen nearly 14.26% since the year began. Nevertheless, the stocks have risen 31.96% over the past one year. While a 52-week high of $510.64 was reached on 08/01/24, a 52-week low of $341.85 was recorded on 04/18/24. SMA at 50 days reached $482.52, while 200 days put it at $440.47.

Levels Of Support And Resistance For VRTX Stock

The 24-hour chart illustrates a support level at 460.84, which if violated will result in even more drops to 456.77. On the upside, there is a resistance level at 471.96. A further resistance level may holdings at 479.01. The Relative Strength Index (RSI) on the 14-day chart is 40.59, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -3.33, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 86.91%. Stochastics %K at 30.22% indicates the stock is a holding.

How much short interest is there in Vertex Pharmaceuticals, Inc.?

A steep rise in short interest was recorded in Vertex Pharmaceuticals, Inc. stocks on 2024-08-30, dropping by -0.7 million shares to a total of 4.38 million shares. Yahoo Finance data shows the prior-month short interest on 2024-07-31 was 5.08 million shares. There was a decline of -15.96%, which implies that there is a negative sentiment for the stock.

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