Kestra Private Wealth Services LLC Trims Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Kestra Private Wealth Services LLC cut its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 25.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,259 shares of the pharmaceutical company's stock after selling 1,777 shares during the quarter. Kestra Private Wealth Services LLC's holdings in Vertex Pharmaceuticals were worth $2,550,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in VRTX. Mascagni Wealth Management Inc. purchased a new stake in shares of Vertex Pharmaceuticals in the fourth quarter worth about $31,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Vertex Pharmaceuticals in the fourth quarter worth about $40,000. Minot DeBlois Advisors LLC purchased a new stake in shares of Vertex Pharmaceuticals in the fourth quarter worth about $44,000. Prestige Wealth Management Group LLC lifted its holdings in shares of Vertex Pharmaceuticals by 45.5% in the fourth quarter. Prestige Wealth Management Group LLC now owns 112 shares of the pharmaceutical company's stock worth $45,000 after buying an additional 35 shares in the last quarter. Finally, SJS Investment Consulting Inc. lifted its holdings in shares of Vertex Pharmaceuticals by 46.2% in the first quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock worth $46,000 after buying an additional 30 shares in the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

VRTX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their target price on shares of Vertex Pharmaceuticals from $515.00 to $517.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $535.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Wolfe Research downgraded shares of Vertex Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, May 7th. Morgan Stanley reduced their price target on shares of Vertex Pharmaceuticals from $464.00 to $460.00 and set an "equal weight" rating on the stock in a research report on Friday, June 20th. Finally, Leerink Partnrs cut shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Fourteen analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $512.30.

Vertex Pharmaceuticals Stock Down 0.6%

Shares of VRTX traded down $2.72 during trading hours on Thursday, hitting $474.24. The company had a trading volume of 360,585 shares, compared to its average volume of 1,519,641. The firm has a fifty day moving average price of $451.75 and a 200-day moving average price of $463.78. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 2.65. The stock has a market capitalization of $121.78 billion, a price-to-earnings ratio of -120.98 and a beta of 0.41. 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 earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.29 by ($0.23). Vertex Pharmaceuticals had a negative net margin of 8.91% and a negative return on equity of 3.36%. The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same quarter in the prior year, the company posted $4.76 EPS. Vertex Pharmaceuticals's revenue was up 2.6% on a year-over-year basis. On average, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Vertex Pharmaceuticals Company 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.