Freemont Management S.A. Has $2.81 Million Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Key Points

• Freemont Management S.A. reduced its stake in Vertex Pharmaceuticals by 9.4%, selling 600 shares and bringing its total holdings to 5,800 shares worth approximately $2.81 million.
• Despite a revenue increase of 2.6% year-over-year, Vertex Pharmaceuticals reported earnings of $4.06 per share, missing analyst expectations by $0.23.
• The stock has been rated as a Moderate Buy by analysts, with a consensus target price of $512.30, reflecting a mix of ratings including thirteen "buy" and fourteen "hold" ratings.

Freemont Management S.A. trimmed its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 9.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,800 shares of the pharmaceutical company's stock after selling 600 shares during the period. Freemont Management S.A.'s holdings in Vertex Pharmaceuticals were worth $2,812,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Quent Capital LLC boosted its position 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. Advisor OS LLC increased its stake in shares of Vertex Pharmaceuticals by 4.4% in the first quarter. Advisor OS LLC now owns 543 shares of the pharmaceutical company's stock valued at $263,000 after purchasing an additional 23 shares during the period. Sculati Wealth Management LLC increased its stake in shares of Vertex Pharmaceuticals by 1.0% in the fourth 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 increased its stake in shares of Vertex Pharmaceuticals by 2.1% during the first quarter. Avidian Wealth Enterprises LLC now owns 1,225 shares of the pharmaceutical company's stock valued at $594,000 after acquiring an additional 25 shares during the period. Finally, Strategic Blueprint LLC boosted its holdings in Vertex Pharmaceuticals by 1.7% during the first quarter. Strategic Blueprint LLC now owns 1,498 shares of the pharmaceutical company's stock worth $726,000 after buying an additional 25 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on VRTX. Cantor Fitzgerald reiterated an "overweight" rating and issued a $535.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Needham & Company LLC restated a "hold" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. The Goldman Sachs Group restated a "buy" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Erste Group Bank lowered shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. Finally, Scotiabank decreased their target price on shares of Vertex Pharmaceuticals from $450.00 to $442.00 and set a "sector perform" rating on the stock in a research report on Tuesday, May 6th. Fourteen equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $512.30.

Vertex Pharmaceuticals Trading Down 1.3%

Shares of VRTX traded down $6.33 on Monday, reaching $463.32. 875,304 shares of the company's stock were exchanged, compared to its average volume of 1,516,245. 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 stock has a market capitalization of $118.98 billion, a P/E ratio of -118.30 and a beta of 0.41. The business has a 50 day moving average price of $453.13 and a two-hundred day moving average price of $465.42. Vertex Pharmaceuticals Incorporated has a 12 month low of $377.85 and a 12 month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued 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). The firm had revenue of $2.77 billion for 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.76 EPS. Research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

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.