Janney Montgomery Scott LLC Cuts Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Janney Montgomery Scott LLC trimmed its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 25.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,619 shares of the pharmaceutical company's stock after selling 23,573 shares during the period. Janney Montgomery Scott LLC's holdings in Vertex Pharmaceuticals were worth $33,268,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of VRTX. Brighton Jones LLC boosted its holdings in Vertex Pharmaceuticals by 15.0% during the 4th quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company's stock valued at $1,783,000 after acquiring an additional 579 shares during the period. Principal Securities Inc. lifted its position in shares of Vertex Pharmaceuticals by 27.1% during the fourth quarter. Principal Securities Inc. now owns 5,463 shares of the pharmaceutical company's stock worth $2,200,000 after purchasing an additional 1,164 shares in the last quarter. Allworth Financial LP boosted its stake in shares of Vertex Pharmaceuticals by 5.6% in the fourth quarter. Allworth Financial LP now owns 1,741 shares of the pharmaceutical company's stock valued at $745,000 after purchasing an additional 92 shares during the period. Sheaff Brock Investment Advisors LLC grew its holdings in shares of Vertex Pharmaceuticals by 2.6% in the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 1,138 shares of the pharmaceutical company's stock valued at $458,000 after purchasing an additional 29 shares in the last quarter. Finally, Sierra Ocean LLC purchased a new stake in Vertex Pharmaceuticals during the 4th quarter worth approximately $60,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Stock Down 1.0%

Shares of NASDAQ VRTX opened at $450.91 on Tuesday. The business has a 50-day moving average price of $462.11 and a 200 day moving average price of $459.98. The stock has a market cap of $115.79 billion, a PE ratio of -204.96, 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 52-week low of $377.85 and a 52-week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted 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). The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.85 billion. Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. Vertex Pharmaceuticals's revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company posted $4.76 earnings per share. Equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

VRTX has been the subject of several research reports. Cantor Fitzgerald restated an "overweight" rating and issued a $535.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Scotiabank cut their price target on Vertex Pharmaceuticals from $450.00 to $442.00 and set a "sector perform" rating on the stock in a report on Tuesday, May 6th. Bank of America increased their price target on Vertex Pharmaceuticals from $555.00 to $567.00 and gave the company a "buy" rating in a research report on Monday, March 31st. Morgan Stanley boosted their price objective on Vertex Pharmaceuticals from $462.00 to $464.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Finally, Wall Street Zen upgraded shares of Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Tuesday, March 11th. Fourteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $515.04.

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.

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