First National Bank of Mount Dora Trust Investment Services Sells 4,882 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

First National Bank of Mount Dora Trust Investment Services lowered its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 39.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,349 shares of the pharmaceutical company's stock after selling 4,882 shares during the period. First National Bank of Mount Dora Trust Investment Services' holdings in Vertex Pharmaceuticals were worth $3,563,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC increased its stake in Vertex Pharmaceuticals by 15.0% in the fourth quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company's stock valued at $1,783,000 after purchasing an additional 579 shares in the last quarter. Golden State Wealth Management LLC bought a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at about $37,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in Vertex Pharmaceuticals by 5.2% during the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 694 shares of the pharmaceutical company's stock worth $308,000 after buying an additional 34 shares during the last quarter. Wingate Wealth Advisors Inc. bought a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at about $43,000. Finally, Sapient Capital LLC increased its stake in shares of Vertex Pharmaceuticals by 1.4% during the 4th quarter. Sapient Capital LLC now owns 35,796 shares of the pharmaceutical company's stock worth $14,415,000 after purchasing an additional 498 shares during the last quarter. Institutional investors own 90.96% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on VRTX. Truist Financial lifted their target price on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. William Blair restated an "outperform" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Royal Bank of Canada boosted their target price on shares of Vertex Pharmaceuticals from $420.00 to $423.00 and gave the company a "sector perform" rating in a research report on Tuesday, May 6th. Wall Street Zen upgraded Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Tuesday, March 11th. Finally, JPMorgan Chase & Co. raised their price target on shares of Vertex Pharmaceuticals from $512.00 to $515.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of "Moderate Buy" and an average price target of $515.04.

Vertex Pharmaceuticals Stock Up 0.2%

Shares of VRTX traded up $0.92 on Wednesday, reaching $452.44. The company's stock had a trading volume of 1,016,375 shares, compared to its average volume of 1,417,676. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88. The stock has a market capitalization of $116.19 billion, a PE ratio of -205.65, a PEG ratio of 2.11 and a beta of 0.41. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01. The firm has a fifty day moving average of $463.61 and a 200-day moving average of $460.31.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.29 by ($0.23). The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.85 billion. Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. The business's revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the company earned $4.76 earnings per share. Equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS 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.