J. Safra Sarasin Holding AG lowered its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 92.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,946 shares of the pharmaceutical company's stock after selling 51,950 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Vertex Pharmaceuticals were worth $1,913,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in VRTX. Mascagni Wealth Management Inc. purchased a new stake in Vertex Pharmaceuticals during the 4th quarter worth about $31,000. SJS Investment Consulting Inc. increased its position in Vertex Pharmaceuticals by 46.2% during 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. University of Texas Texas AM Investment Management Co. purchased a new stake in Vertex Pharmaceuticals in the 1st quarter valued at about $46,000. Mpwm Advisory Solutions LLC purchased a new stake in Vertex Pharmaceuticals in the 4th quarter valued at about $40,000. Finally, Minot DeBlois Advisors LLC purchased a new stake in Vertex Pharmaceuticals in the 4th quarter valued at about $44,000. Hedge funds and other institutional investors own 90.96% of the company's stock.
Analyst Ratings Changes
VRTX has been the subject of several recent analyst reports. Royal Bank Of Canada lowered their price target on Vertex Pharmaceuticals from $430.00 to $405.00 and set a "sector perform" rating for the company in a report on Tuesday. Wolfe Research cut Vertex Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a report on Wednesday, May 7th. Canaccord Genuity Group lowered their price target on Vertex Pharmaceuticals from $424.00 to $411.00 and set a "hold" rating for the company in a report on Wednesday. BMO Capital Markets set a $530.00 price target on Vertex Pharmaceuticals and gave the company an "outperform" rating in a report on Tuesday. Finally, HC Wainwright lowered their price target on Vertex Pharmaceuticals from $550.00 to $478.00 and set a "buy" rating for the company in a report on Tuesday. Thirteen 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. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $497.10.
Get Our Latest Stock Report on Vertex Pharmaceuticals
Vertex Pharmaceuticals Stock Performance
VRTX stock traded up $10.67 during trading on Wednesday, reaching $385.65. 4,725,510 shares of the company's stock were exchanged, compared to its average volume of 1,652,404. The company has a quick ratio of 2.29, a current ratio of 2.52 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a 1-year low of $372.35 and a 1-year high of $519.88. The company's fifty day moving average price is $454.92 and its 200-day moving average price is $466.81. The firm has a market cap of $99.03 billion, a PE ratio of 27.57 and a beta of 0.44.
Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.24 by $0.28. The company had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.90 billion. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%. The firm's quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($12.83) EPS. On average, research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.
Vertex Pharmaceuticals Company Profile
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Free Report)
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.
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