Sfmg LLC Sells 100 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Sfmg LLC cut its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,745 shares of the pharmaceutical company’s stock after selling 100 shares during the quarter. Sfmg LLC’s holdings in Vertex Pharmaceuticals were worth $3,602,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of VRTX. Whalen Wealth Management Inc. bought a new position in Vertex Pharmaceuticals in the 3rd quarter valued at approximately $662,000. Creative Planning lifted its holdings in shares of Vertex Pharmaceuticals by 5.3% during the second quarter. Creative Planning now owns 79,117 shares of the pharmaceutical company’s stock valued at $37,084,000 after purchasing an additional 3,998 shares in the last quarter. Mizuho Securities USA LLC boosted its position in shares of Vertex Pharmaceuticals by 289.0% during the third quarter. Mizuho Securities USA LLC now owns 77,393 shares of the pharmaceutical company’s stock valued at $35,994,000 after buying an additional 57,497 shares during the last quarter. Blue Trust Inc. increased its holdings in Vertex Pharmaceuticals by 640.0% in the 2nd quarter. Blue Trust Inc. now owns 1,443 shares of the pharmaceutical company’s stock worth $676,000 after buying an additional 1,248 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Vertex Pharmaceuticals in the 2nd quarter worth about $21,008,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Trading Down 0.2 %

NASDAQ VRTX opened at $468.29 on Thursday. Vertex Pharmaceuticals Incorporated has a 52 week low of $355.66 and a 52 week high of $519.88. The company has a 50 day moving average price of $473.12 and a 200 day moving average price of $475.88. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. The firm has a market cap of $120.60 billion, a PE ratio of -235.32 and a beta of 0.36.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, beating analysts’ consensus estimates of $3.61 by $0.77. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The company had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.69 billion. During the same period last year, the business posted $3.67 earnings per share. The firm’s revenue was up 11.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. UBS Group lifted their price objective on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Canaccord Genuity Group upped their price target on shares of Vertex Pharmaceuticals from $361.00 to $408.00 and gave the stock a “sell” rating in a research report on Wednesday, November 6th. Scotiabank raised their price objective on shares of Vertex Pharmaceuticals from $480.00 to $486.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. cut their price target on Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Finally, HC Wainwright reissued a “buy” rating and set a $600.00 price target on shares of Vertex Pharmaceuticals in a report on Monday, October 21st. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $506.20.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.