Raiffeisen Bank International AG Reduces Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Key Points

• Raiffeisen Bank International AG reduced its stake in Vertex Pharmaceuticals by 1.7%, holding 131,609 shares, which represents about 1.0% of its investment portfolio.
• Vertex Pharmaceuticals' most recent earnings report showed a missed EPS estimate of $4.06, compared to the predicted $4.29, alongside a revenue of $2.77 billion, which was below the consensus estimate of $2.85 billion.
• Despite the earnings miss, analysts maintain a generally positive outlook, with a consensus price target of $509.89 and most ratings being a "Moderate Buy."

Raiffeisen Bank International AG cut its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 1.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 131,609 shares of the pharmaceutical company's stock after selling 2,289 shares during the period. Vertex Pharmaceuticals accounts for 1.0% of Raiffeisen Bank International AG's investment portfolio, making the stock its 23rd largest holding. Raiffeisen Bank International AG owned approximately 0.05% of Vertex Pharmaceuticals worth $64,836,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of VRTX. Mascagni Wealth Management Inc. acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at $31,000. SJS Investment Consulting Inc. boosted its holdings in shares of Vertex Pharmaceuticals by 46.2% in the 1st quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock valued at $46,000 after buying an additional 30 shares in the last quarter. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Vertex Pharmaceuticals in the 1st quarter valued at $46,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at $40,000. Finally, Minot DeBlois Advisors LLC acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at $44,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on VRTX. HC Wainwright reiterated a "buy" rating and set a $550.00 price target on shares of Vertex Pharmaceuticals in a research note on Monday, June 23rd. Cantor Fitzgerald reiterated an "overweight" rating and set a $535.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. JPMorgan Chase & Co. increased their price target on shares of Vertex Pharmaceuticals from $515.00 to $517.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Scotiabank decreased their price target on shares of Vertex Pharmaceuticals from $450.00 to $442.00 and set a "sector perform" rating for the company in a research note on Tuesday, May 6th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Fourteen equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $509.89.

Vertex Pharmaceuticals Price Performance

NASDAQ VRTX opened at $462.13 on Friday. The company has a 50 day simple moving average of $455.62 and a 200-day simple moving average of $466.76. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.65 and a quick ratio of 2.29. The firm has a market capitalization of $118.67 billion, a price-to-earnings ratio of -117.89 and a beta of 0.44. 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 released its quarterly earnings data on Monday, May 5th. The pharmaceutical company reported $4.06 EPS for the quarter, missing analysts' consensus estimates of $4.29 by ($0.23). Vertex Pharmaceuticals had a negative return on equity of 3.36% and a negative net margin of 8.91%. The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same quarter in the prior year, the company posted $4.76 EPS. The company's quarterly revenue was up 2.6% on a year-over-year basis. Equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal 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.

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