UMB Bank n.a. Reduces Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

UMB Bank n.a. cut its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 32.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,397 shares of the pharmaceutical company's stock after selling 1,666 shares during the quarter. UMB Bank n.a.'s holdings in Vertex Pharmaceuticals were worth $1,647,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Brighton Jones LLC raised its holdings in Vertex Pharmaceuticals by 15.0% during the fourth quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company's stock worth $1,783,000 after purchasing an additional 579 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth $37,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in shares of Vertex Pharmaceuticals by 5.2% in the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 694 shares of the pharmaceutical company's stock worth $308,000 after buying an additional 34 shares in the last quarter. Wingate Wealth Advisors Inc. acquired a new stake in Vertex Pharmaceuticals in the 4th quarter valued at about $43,000. Finally, Sapient Capital LLC increased its holdings in Vertex Pharmaceuticals by 1.4% during the 4th quarter. Sapient Capital LLC now owns 35,796 shares of the pharmaceutical company's stock valued at $14,415,000 after acquiring an additional 498 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Trading Up 1.2%

Vertex Pharmaceuticals stock traded up $5.37 during midday trading on Tuesday, reaching $451.52. The stock had a trading volume of 1,286,805 shares, compared to its average volume of 1,416,487. The stock's 50-day simple moving average is $464.26 and its 200 day simple moving average is $460.37. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69. The stock has a market capitalization of $115.95 billion, a PE ratio of -205.24, a price-to-earnings-growth ratio of 2.11 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.29 by ($0.23). Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. The firm had revenue of $2.77 billion for the quarter, compared to analysts' expectations of $2.85 billion. During the same quarter in the previous year, the firm posted $4.76 EPS. The firm's revenue for the quarter was up 2.6% compared to the same quarter last year. Analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Wall Street Analyst Weigh In

VRTX has been the topic of several recent research reports. Scotiabank reduced their price target on shares of Vertex Pharmaceuticals from $450.00 to $442.00 and set a "sector perform" rating on the stock in a report on Tuesday, May 6th. Leerink Partnrs lowered Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Truist Financial increased their target price on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Wall Street Zen raised Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Tuesday, March 11th. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Vertex Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus target price of $515.04.

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.