Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. cut its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 87.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 738 shares of the pharmaceutical company's stock after selling 5,104 shares during the quarter. Edgestream Partners L.P.'s holdings in Vertex Pharmaceuticals were worth $358,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Mascagni Wealth Management Inc. acquired a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth about $31,000. SJS Investment Consulting Inc. raised its position in shares of Vertex Pharmaceuticals by 46.2% in the first quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock worth $46,000 after acquiring an additional 30 shares during the period. Mpwm Advisory Solutions LLC acquired a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth about $40,000. Minot DeBlois Advisors LLC acquired a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth about $44,000. Finally, City State Bank raised its position in shares of Vertex Pharmaceuticals by 746.2% in the first quarter. City State Bank now owns 110 shares of the pharmaceutical company's stock worth $53,000 after acquiring an additional 97 shares during the period. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Trading Up 1.6%

Vertex Pharmaceuticals stock traded up $7.33 during trading on Wednesday, hitting $477.46. The company had a trading volume of 448,387 shares, compared to its average volume of 1,413,459. Vertex Pharmaceuticals Incorporated has a 1-year low of $377.85 and a 1-year high of $519.88. The company has a current ratio of 2.65, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01. The company's 50 day simple moving average is $449.49 and its 200-day simple moving average is $463.28. The stock has a market cap of $122.61 billion, a price-to-earnings ratio of -121.80 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its earnings results 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 company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.85 billion. Vertex Pharmaceuticals had a negative net margin of 8.91% and a negative return on equity of 3.36%. The firm's revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the business posted $4.76 EPS. As a group, analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. The Goldman Sachs Group restated a "buy" 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. Leerink Partnrs downgraded shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 6th. William Blair reiterated an "outperform" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Finally, HC Wainwright reiterated a "buy" rating and issued a $550.00 price objective on shares of Vertex Pharmaceuticals in a report on Monday, June 23rd. Fourteen analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $511.71.

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.