Triasima Portfolio Management inc. Reduces Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Triasima Portfolio Management inc. decreased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 46.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,213 shares of the pharmaceutical company's stock after selling 5,447 shares during the period. Triasima Portfolio Management inc.'s holdings in Vertex Pharmaceuticals were worth $3,012,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Capital World Investors boosted its position in Vertex Pharmaceuticals by 5.7% in the fourth quarter. Capital World Investors now owns 28,325,695 shares of the pharmaceutical company's stock valued at $11,406,667,000 after buying an additional 1,514,993 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Vertex Pharmaceuticals by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 23,258,288 shares of the pharmaceutical company's stock worth $9,366,113,000 after purchasing an additional 98,654 shares during the period. Capital Research Global Investors lifted its holdings in shares of Vertex Pharmaceuticals by 15.8% during the fourth quarter. Capital Research Global Investors now owns 10,428,951 shares of the pharmaceutical company's stock worth $4,199,713,000 after purchasing an additional 1,426,746 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Vertex Pharmaceuticals by 23.3% during the fourth quarter. Wellington Management Group LLP now owns 5,916,084 shares of the pharmaceutical company's stock worth $2,382,407,000 after purchasing an additional 1,117,214 shares during the period. Finally, Loomis Sayles & Co. L P lifted its holdings in shares of Vertex Pharmaceuticals by 23.0% during the fourth quarter. Loomis Sayles & Co. L P now owns 3,772,789 shares of the pharmaceutical company's stock worth $1,519,302,000 after purchasing an additional 704,575 shares during the period. Institutional investors and hedge funds own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Down 1.3%

Vertex Pharmaceuticals stock traded down $6.28 during midday trading on Thursday, hitting $463.27. 1,251,202 shares of the stock were exchanged, compared to its average volume of 1,423,708. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88. The stock has a market capitalization of $118.97 billion, a price-to-earnings ratio of -118.18 and a beta of 0.41. The business's 50-day moving average price is $448.13 and its 200-day moving average price is $461.63. The company has a quick ratio of 2.29, a current ratio of 2.65 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly 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). 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 for the quarter, compared to analysts' expectations of $2.85 billion. During the same quarter last year, the firm posted $4.76 earnings per share. The firm's revenue for the quarter was up 2.6% compared to the same quarter last year. On average, research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. HC Wainwright reiterated a "buy" rating and set a $550.00 price target on shares of Vertex Pharmaceuticals in a report on Monday, June 23rd. The Goldman Sachs Group reiterated a "buy" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Wolfe Research lowered shares of Vertex Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a report on Wednesday, May 7th. Needham & Company LLC restated a "hold" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Finally, Royal Bank Of Canada set a $420.00 target price on shares of Vertex Pharmaceuticals and gave the company a "sector perform" rating in a report on Tuesday, June 17th. Fourteen investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $511.71.

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.