Integrated Advisors Network LLC Decreases Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Integrated Advisors Network LLC lowered its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 30.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,156 shares of the pharmaceutical company's stock after selling 924 shares during the quarter. Integrated Advisors Network LLC's holdings in Vertex Pharmaceuticals were worth $1,045,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mascagni Wealth Management Inc. acquired a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth about $31,000. Truvestments Capital LLC increased its position in shares of Vertex Pharmaceuticals by 30.3% during the 4th 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 last quarter. Mpwm Advisory Solutions LLC purchased a new stake in Vertex Pharmaceuticals in the fourth quarter worth $40,000. Midwest Capital Advisors LLC purchased a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at $41,000. Finally, Minot DeBlois Advisors LLC bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth approximately $44,000. Institutional investors own 90.96% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on VRTX. Royal Bank of Canada increased their target price on Vertex Pharmaceuticals from $420.00 to $423.00 and gave the company a "sector perform" rating in a report on Tuesday, May 6th. Wall Street Zen raised Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Tuesday, March 11th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Leerink Partnrs lowered shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 6th. Finally, Erste Group Bank cut shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. Fourteen 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 company. According to MarketBeat, Vertex Pharmaceuticals has an average rating of "Moderate Buy" and a consensus price target of $515.04.

Vertex Pharmaceuticals Stock Down 1.0%

Shares of NASDAQ:VRTX traded down $4.61 on Friday, hitting $455.45. 1,021,326 shares of the company traded hands, compared to its average volume of 1,417,847. Vertex Pharmaceuticals Incorporated has a 52 week low of $377.85 and a 52 week high of $519.88. The stock has a 50 day simple moving average of $462.88 and a 200-day simple moving average of $460.24. The company has a market cap of $116.96 billion, a PE ratio of -207.02, a PEG 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 (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings results 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 net margin of 4.86% and a negative return on equity of 2.02%. The firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same period last year, the business earned $4.76 EPS. Vertex Pharmaceuticals's revenue was up 2.6% on a year-over-year basis. As a group, research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

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.