Edgestream Partners L.P. Sells 5,104 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Edgestream Partners L.P. lowered its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 87.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Quent Capital LLC grew its holdings in 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 buying an additional 22 shares during the last quarter. Sculati Wealth Management LLC lifted 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 worth $1,029,000 after acquiring an additional 25 shares during the period. Avidian Wealth Enterprises LLC lifted 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 worth $594,000 after acquiring an additional 25 shares during the period. Strategic Blueprint LLC lifted 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 worth $726,000 after acquiring an additional 25 shares during the period. Finally, Breakwater Capital Group lifted 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 worth $866,000 after acquiring an additional 27 shares during the period. Institutional investors and hedge funds own 90.96% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on VRTX. Cantor Fitzgerald reiterated an "overweight" rating and issued a $535.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. William Blair reiterated an "outperform" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Morgan Stanley reduced their price objective on Vertex Pharmaceuticals from $464.00 to $460.00 and set an "equal weight" rating for the company in a research report on Friday, June 20th. Leerink Partners reiterated a "market perform" rating and issued a $503.00 price objective (down previously from $550.00) on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Finally, HC Wainwright restated a "buy" rating and set a $550.00 target price on shares of Vertex Pharmaceuticals in a research report on Monday, June 23rd. Fourteen 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 company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $512.30.

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX traded down $4.68 on Thursday, hitting $472.27. The company's stock had a trading volume of 907,904 shares, compared to its average volume of 1,089,975. Vertex Pharmaceuticals Incorporated has a one year low of $377.85 and a one year high of $519.88. The firm has a market capitalization of $121.28 billion, a P/E ratio of -120.48 and a beta of 0.41. The stock has a fifty day moving average of $452.51 and a two-hundred day moving average of $464.26. The company has a current ratio of 2.65, a quick ratio of 2.29 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 (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 business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same period in the previous year, the business earned $4.76 earnings per share. The business's quarterly revenue was up 2.6% on a year-over-year basis. Research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

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.