Beacon Investment Advisory Services Inc. Cuts Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Beacon Investment Advisory Services Inc. trimmed its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 1.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 77,901 shares of the pharmaceutical company's stock after selling 923 shares during the quarter. Vertex Pharmaceuticals makes up about 1.8% of Beacon Investment Advisory Services Inc.'s portfolio, making the stock its 11th biggest position. Beacon Investment Advisory Services Inc.'s holdings in Vertex Pharmaceuticals were worth $37,768,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Mascagni Wealth Management Inc. acquired a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at about $31,000. Mpwm Advisory Solutions LLC purchased a new stake in Vertex Pharmaceuticals in the 4th quarter valued at about $40,000. Minot DeBlois Advisors LLC purchased a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $44,000. Prestige Wealth Management Group LLC boosted its position in shares of Vertex Pharmaceuticals by 45.5% during the fourth quarter. Prestige Wealth Management Group LLC now owns 112 shares of the pharmaceutical company's stock worth $45,000 after buying an additional 35 shares during the period. Finally, SJS Investment Consulting Inc. grew its position in Vertex Pharmaceuticals by 46.2% in the 1st quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock valued at $46,000 after acquiring an additional 30 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Stock Performance

VRTX traded down $4.68 during midday trading on Thursday, hitting $472.27. 907,904 shares of the company traded hands, compared to its average volume of 1,089,975. The firm has a market capitalization of $121.28 billion, a PE ratio of -120.48 and a beta of 0.41. The company's 50-day moving average is $451.75 and its 200 day moving average is $463.78. Vertex Pharmaceuticals Incorporated has a 52 week low of $377.85 and a 52 week high of $519.88. 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 announced its quarterly earnings data on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.29 by ($0.23). Vertex Pharmaceuticals had a negative net margin of 8.91% and a negative return on equity of 3.36%. The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same quarter last year, the firm posted $4.76 earnings per share. The company's revenue was up 2.6% compared to the same quarter last year. On average, research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Cantor Fitzgerald restated an "overweight" rating and set a $535.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. HC Wainwright reissued a "buy" rating and issued a $550.00 price objective on shares of Vertex Pharmaceuticals in a research note on Monday, June 23rd. The Goldman Sachs Group restated a "buy" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Needham & Company LLC reissued a "hold" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Finally, Erste Group Bank cut shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. Fourteen research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $512.30.

Vertex Pharmaceuticals 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.