Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Stake Lowered by Integrated Advisors Network LLC

Integrated Advisors Network LLC reduced its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 17.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,080 shares of the pharmaceutical company's stock after selling 673 shares during the period. Integrated Advisors Network LLC's holdings in Vertex Pharmaceuticals were worth $1,240,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in VRTX. Brown Lisle Cummings Inc. purchased a new stake in Vertex Pharmaceuticals during the 4th quarter worth approximately $30,000. Golden State Wealth Management LLC acquired a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth approximately $37,000. Truvestments Capital LLC increased its stake in shares of Vertex Pharmaceuticals by 30.3% in the fourth quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock worth $40,000 after buying an additional 23 shares during the last quarter. Mpwm Advisory Solutions LLC bought a new stake in shares of Vertex Pharmaceuticals in the fourth quarter worth $40,000. Finally, Midwest Capital Advisors LLC acquired a new stake in Vertex Pharmaceuticals in the fourth quarter valued at $41,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on VRTX shares. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Morgan Stanley increased their target price on Vertex Pharmaceuticals from $462.00 to $464.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. 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. JPMorgan Chase & Co. upped their price target on Vertex Pharmaceuticals from $512.00 to $515.00 and gave the company an "overweight" rating in a research report on Tuesday, May 6th. Finally, Bank of America lifted their price objective on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the stock a "buy" rating in a report on Monday, March 31st. Fourteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $515.04.

Insiders Place Their Bets

In other news, EVP David Altshuler sold 3,231 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $500.00, for a total value of $1,615,500.00. Following the completion of the sale, the executive vice president now owns 26,512 shares in the company, valued at $13,256,000. This represents a 10.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Trading Up 0.4%

VRTX traded up $1.99 during trading on Thursday, reaching $447.09. The company had a trading volume of 882,371 shares, compared to its average volume of 1,416,283. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69. Vertex Pharmaceuticals Incorporated has a 12-month low of $377.85 and a 12-month high of $519.88. The company has a market cap of $114.81 billion, a price-to-earnings ratio of -203.22, a PEG ratio of 2.11 and a beta of 0.51. The firm's 50-day simple moving average is $472.28 and its 200 day simple moving average is $461.84.

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 for the quarter, missing the consensus estimate of $4.29 by ($0.23). The firm had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.85 billion. Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. The business's revenue was up 2.6% on a year-over-year basis. During the same period last year, the business earned $4.76 earnings per share. Equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current 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.