Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Private Harbour Investment Management & Counsel LLC

Private Harbour Investment Management & Counsel LLC lowered its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 5.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,825 shares of the pharmaceutical company’s stock after selling 267 shares during the period. Vertex Pharmaceuticals makes up about 2.6% of Private Harbour Investment Management & Counsel LLC’s investment portfolio, making the stock its 16th largest position. Private Harbour Investment Management & Counsel LLC’s holdings in Vertex Pharmaceuticals were worth $2,339,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in VRTX. Mascagni Wealth Management Inc. purchased a new position in shares of Vertex Pharmaceuticals during the 4th quarter valued at approximately $31,000. Truvestments Capital LLC raised its stake in Vertex Pharmaceuticals by 30.3% during the fourth quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company’s stock valued at $40,000 after buying an additional 23 shares in the last quarter. Mpwm Advisory Solutions LLC acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at about $40,000. Midwest Capital Advisors LLC acquired a new stake in Vertex Pharmaceuticals during the fourth quarter worth about $41,000. Finally, Minot DeBlois Advisors LLC bought a new position in Vertex Pharmaceuticals in the fourth quarter worth about $44,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Price Performance

NASDAQ VRTX opened at $440.87 on Monday. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.65 and a quick ratio of 2.29. The stock’s 50-day moving average is $459.22 and its two-hundred day moving average is $459.51. The firm has a market cap of $113.22 billion, a P/E ratio of -112.47 and a beta of 0.42.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.23). Vertex Pharmaceuticals had a negative return on equity of 3.36% and a negative net margin of 8.91%. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same period in the prior year, the firm earned $4.76 EPS. The firm’s revenue was up 2.6% on a year-over-year basis. On average, analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Erste Group Bank lowered shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 23rd. Leerink Partnrs downgraded shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 6th. Wall Street Zen upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, March 11th. Finally, Morgan Stanley decreased their price objective on Vertex Pharmaceuticals from $464.00 to $460.00 and set an “equal weight” rating for the company in a report on Friday. Fourteen analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $513.14.

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.