Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by HM Payson & Co.

HM Payson & Co. trimmed its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 13.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,821 shares of the pharmaceutical company's stock after selling 914 shares during the period. HM Payson & Co.'s holdings in Vertex Pharmaceuticals were worth $2,822,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Mascagni Wealth Management Inc. purchased a new position in Vertex Pharmaceuticals in the 4th quarter worth approximately $31,000. SJS Investment Consulting Inc. lifted its stake in Vertex Pharmaceuticals by 46.2% in the 1st quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock worth $46,000 after purchasing an additional 30 shares in the last quarter. Truvestments Capital LLC lifted its stake in Vertex Pharmaceuticals by 30.3% in the 4th quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock worth $40,000 after purchasing an additional 23 shares in the last quarter. Mpwm Advisory Solutions LLC purchased a new position in Vertex Pharmaceuticals in the 4th quarter worth approximately $40,000. Finally, Minot DeBlois Advisors LLC purchased a new position in Vertex Pharmaceuticals in the 4th quarter worth approximately $44,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on VRTX. The Goldman Sachs Group reissued a "buy" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Morgan Stanley decreased their target price on shares of Vertex Pharmaceuticals from $464.00 to $460.00 and set an "equal weight" rating on the stock in a research note on Friday, June 20th. Bank of America raised their target price on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the stock a "buy" rating in a research note on Monday, March 31st. Wall Street Zen raised shares of Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Tuesday, March 11th. Finally, William Blair reaffirmed an "outperform" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Fourteen investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus target price of $511.62.

Vertex Pharmaceuticals Stock Down 0.5%

Shares of NASDAQ:VRTX traded down $2.40 during trading on Friday, hitting $454.64. The company's stock had a trading volume of 763,957 shares, compared to its average volume of 1,420,821. The business has a 50 day moving average price of $450.84 and a two-hundred day moving average price of $458.42. The company has a market capitalization of $116.75 billion, a PE ratio of -115.98 and a beta of 0.41. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 2.65. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 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 analyst estimates of $2.85 billion. Vertex Pharmaceuticals had a negative return on equity of 3.36% and a negative net margin of 8.91%. The business's revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the firm earned $4.76 EPS. As a group, research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal 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.