Integrated Advisors Network LLC Lowers Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Integrated Advisors Network LLC decreased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 30.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,156 shares of the pharmaceutical company’s stock after selling 924 shares during the quarter. Integrated Advisors Network LLC’s holdings in Vertex Pharmaceuticals were worth $1,045,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at $1,374,948,000. GAMMA Investing LLC lifted its holdings in Vertex Pharmaceuticals by 60,572.3% in the 1st quarter. GAMMA Investing LLC now owns 2,425,070 shares of the pharmaceutical company’s stock valued at $1,175,722,000 after purchasing an additional 2,421,073 shares in the last quarter. Parnassus Investments LLC purchased a new position in Vertex Pharmaceuticals in the 4th quarter valued at about $731,283,000. Capital World Investors increased its stake in shares of Vertex Pharmaceuticals by 5.7% during the 4th quarter. Capital World Investors now owns 28,325,695 shares of the pharmaceutical company’s stock valued at $11,406,667,000 after acquiring an additional 1,514,993 shares during the last quarter. Finally, Capital Research Global Investors increased its position in Vertex Pharmaceuticals by 15.8% during the 4th quarter. Capital Research Global Investors now owns 10,428,951 shares of the pharmaceutical company’s stock worth $4,199,713,000 after purchasing an additional 1,426,746 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ:VRTX opened at $460.06 on Friday. The business’s fifty day moving average price is $462.88 and its two-hundred day moving average price is $460.24. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The stock has a market capitalization of $118.14 billion, a price-to-earnings ratio of -209.12, a price-to-earnings-growth ratio of 2.11 and a beta of 0.41. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, May 5th. The pharmaceutical company reported $4.06 EPS for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.23). The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.85 billion. Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. Vertex Pharmaceuticals’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.76 EPS. As a group, analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Leerink Partnrs cut Vertex Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 6th. Wolfe Research lowered Vertex Pharmaceuticals from an “outperform” rating to a “peer perform” rating in a report on Wednesday, May 7th. William Blair reiterated an “outperform” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Finally, Bank of America lifted their price target on Vertex Pharmaceuticals from $555.00 to $567.00 and gave the company a “buy” rating in a report on Monday, March 31st. Fourteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $515.04.

About Vertex Pharmaceuticals

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.