Bank Julius Baer & Co. Ltd Zurich Reduces Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Bank Julius Baer & Co. Ltd Zurich lessened its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 1.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 362,907 shares of the pharmaceutical company's stock after selling 6,060 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich owned 0.14% of Vertex Pharmaceuticals worth $192,626,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Quent Capital LLC increased its holdings in shares of Vertex Pharmaceuticals by 4.5% in the 1st quarter. Quent Capital LLC now owns 513 shares of the pharmaceutical company's stock valued at $249,000 after acquiring an additional 22 shares during the last quarter. Sculati Wealth Management LLC boosted its position in shares of Vertex Pharmaceuticals by 1.0% in the 4th quarter. Sculati Wealth Management LLC now owns 2,556 shares of the pharmaceutical company's stock valued at $1,029,000 after purchasing an additional 25 shares during the period. Avidian Wealth Enterprises LLC boosted its position in shares of Vertex Pharmaceuticals by 2.1% in the 1st quarter. Avidian Wealth Enterprises LLC now owns 1,225 shares of the pharmaceutical company's stock valued at $594,000 after purchasing an additional 25 shares during the period. Strategic Blueprint LLC boosted its position in shares of Vertex Pharmaceuticals by 1.7% in the 1st quarter. Strategic Blueprint LLC now owns 1,498 shares of the pharmaceutical company's stock valued at $726,000 after purchasing an additional 25 shares during the period. Finally, Breakwater Capital Group boosted its position in shares of Vertex Pharmaceuticals by 1.5% in the 1st quarter. Breakwater Capital Group now owns 1,786 shares of the pharmaceutical company's stock valued at $866,000 after purchasing an additional 27 shares during the period. Institutional investors and hedge funds own 90.96% of the company's stock.

Vertex Pharmaceuticals Price Performance

NASDAQ VRTX traded down $4.68 during mid-day trading on Thursday, hitting $472.27. The stock had a trading volume of 907,210 shares, compared to its average volume of 1,523,694. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88. The company has a market cap of $121.28 billion, a price-to-earnings ratio of -120.48 and a beta of 0.41. The company has a 50 day simple moving average of $451.75 and a 200 day simple moving average of $463.78. The company has a quick ratio of 2.29, a current ratio of 2.65 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share for the quarter, missing the consensus estimate of $4.29 by ($0.23). The firm had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.85 billion. Vertex Pharmaceuticals had a negative net margin of 8.91% and a negative return on equity of 3.36%. The business's revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the business earned $4.76 earnings per share. Equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on VRTX. Bank of America upped their target price on Vertex Pharmaceuticals from $555.00 to $567.00 and gave the company a "buy" rating in a research report on Monday, March 31st. Wolfe Research cut Vertex Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, May 7th. HC Wainwright reaffirmed a "buy" rating and set a $550.00 price objective on shares of Vertex Pharmaceuticals in a research report on Monday, June 23rd. William Blair reaffirmed an "outperform" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Fourteen research analysts have rated the stock with a hold rating, thirteen have issued 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 an average price target of $512.30.

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.