Hennion & Walsh Asset Management Inc. Lowers Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Hennion & Walsh Asset Management Inc. cut its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 16.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,795 shares of the pharmaceutical company's stock after selling 1,331 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in Vertex Pharmaceuticals were worth $3,294,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brown Lisle Cummings Inc. acquired a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth approximately $30,000. Mascagni Wealth Management Inc. bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth $31,000. Golden State Wealth Management LLC acquired a new position in shares of Vertex Pharmaceuticals during the fourth quarter valued at $37,000. 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. Finally, Mpwm Advisory Solutions LLC bought a new stake in shares of Vertex Pharmaceuticals during the fourth quarter valued at about $40,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Performance

Shares of Vertex Pharmaceuticals stock traded down $2.03 on Thursday, hitting $443.82. The stock had a trading volume of 1,399,850 shares, compared to its average volume of 1,418,345. The stock has a market cap of $113.97 billion, a price-to-earnings ratio of -201.74, a price-to-earnings-growth ratio of 2.11 and a beta of 0.41. The company has a quick ratio of 2.35, a current ratio of 2.69 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. The business's 50 day moving average is $466.51 and its two-hundred day moving average is $460.41.

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 for the quarter, missing the consensus estimate of $4.29 by ($0.23). Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same quarter last year, the firm earned $4.76 EPS. Vertex Pharmaceuticals's revenue for the quarter was up 2.6% compared to the same quarter last year. Analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Insider Activity at Vertex Pharmaceuticals

In related news, EVP David Altshuler sold 3,231 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $500.00, for a total value of $1,615,500.00. Following the transaction, the executive vice president now owns 26,512 shares in the company, valued at $13,256,000. The trade was a 10.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. William Blair reiterated an "outperform" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Royal Bank of Canada raised their price objective on shares of Vertex Pharmaceuticals from $420.00 to $423.00 and gave the company a "sector perform" rating in a research note on Tuesday, May 6th. JPMorgan Chase & Co. upped their target price on Vertex Pharmaceuticals from $512.00 to $515.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Canaccord Genuity Group upgraded Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and lifted their price target for the company from $408.00 to $424.00 in a research report on Tuesday, February 11th. Finally, Wall Street Zen raised Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Tuesday, March 11th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $515.04.

About Vertex Pharmaceuticals

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.