Harmony Asset Management LLC Has $330,000 Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Harmony Asset Management LLC cut its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 89.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 680 shares of the pharmaceutical company's stock after selling 5,595 shares during the period. Harmony Asset Management LLC's holdings in Vertex Pharmaceuticals were worth $330,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Mascagni Wealth Management Inc. acquired a new position in shares of Vertex Pharmaceuticals during the fourth quarter valued at $31,000. SJS Investment Consulting Inc. increased its holdings in shares of Vertex Pharmaceuticals by 46.2% during the first quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock valued at $46,000 after purchasing an additional 30 shares during the period. Truvestments Capital LLC increased its holdings in shares of Vertex Pharmaceuticals by 30.3% during the fourth quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock valued at $40,000 after purchasing an additional 23 shares during the period. Mpwm Advisory Solutions LLC acquired a new position in shares of Vertex Pharmaceuticals during the fourth quarter valued at $40,000. Finally, Minot DeBlois Advisors LLC acquired a new position in shares of Vertex Pharmaceuticals during the fourth quarter valued at $44,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

VRTX has been the subject of several research reports. Leerink Partnrs cut Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 6th. William Blair reaffirmed an "outperform" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. JPMorgan Chase & Co. raised their target price on Vertex Pharmaceuticals from $515.00 to $517.00 and gave the company an "overweight" rating in a research note on Monday. Morgan Stanley decreased their target price on Vertex Pharmaceuticals from $464.00 to $460.00 and set an "equal weight" rating for the company in a research note on Friday, June 20th. Finally, Scotiabank decreased their target price on Vertex Pharmaceuticals from $450.00 to $442.00 and set a "sector perform" rating for the company in a research note on Tuesday, May 6th. Fourteen investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Vertex Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus price target of $511.71.

Vertex Pharmaceuticals Stock Performance

VRTX traded down $8.15 during midday trading on Tuesday, reaching $464.20. The company's stock had a trading volume of 987,983 shares, compared to its average volume of 1,422,130. The stock has a market cap of $119.21 billion, a P/E ratio of -118.42 and a beta of 0.41. The company has a fifty day simple moving average of $447.15 and a 200 day simple moving average of $461.56. 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 Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88.

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 analysts' consensus estimates of $4.29 by ($0.23). The business 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 business's quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the business earned $4.76 EPS. Research analysts expect 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.