Cerity Partners LLC Has $122.62 Million Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Cerity Partners LLC lifted its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 6.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 252,924 shares of the pharmaceutical company's stock after acquiring an additional 14,895 shares during the quarter. Cerity Partners LLC owned approximately 0.10% of Vertex Pharmaceuticals worth $122,622,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Norges Bank bought a new stake in Vertex Pharmaceuticals during the 4th quarter worth about $1,374,948,000. GAMMA Investing LLC lifted its position in shares of Vertex Pharmaceuticals by 60,572.3% during the first quarter. GAMMA Investing LLC now owns 2,425,070 shares of the pharmaceutical company's stock worth $1,175,722,000 after purchasing an additional 2,421,073 shares in the last quarter. Parnassus Investments LLC bought a new stake in shares of Vertex Pharmaceuticals during the fourth quarter valued at approximately $731,283,000. Capital World Investors increased its holdings in shares of 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 purchasing an additional 1,514,993 shares in the last quarter. Finally, Capital Research Global Investors raised its position in Vertex Pharmaceuticals by 15.8% in the 4th 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 last quarter. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Stock Down 2.2%

Shares of VRTX stock traded down $10.68 on Friday, hitting $468.85. 892,738 shares of the stock were exchanged, compared to its average volume of 1,424,305. The company has a current ratio of 2.65, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $120.40 billion, a P/E ratio of -119.60 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The business has a 50-day moving average of $448.35 and a 200 day moving average of $459.98.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 EPS for the quarter, missing the consensus estimate of $4.29 by ($0.23). The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.85 billion. Vertex Pharmaceuticals had a negative return on equity of 3.36% and a negative net margin of 8.91%. The business's revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.76 EPS. Equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analyst Upgrades and Downgrades

VRTX has been the subject of several research reports. Leerink Partners reissued a "market perform" rating and issued a $503.00 target price (down from $550.00) on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $535.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Erste Group Bank cut Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. The Goldman Sachs Group reiterated a "buy" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Finally, Bank of America increased their price objective on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the company a "buy" rating in a report on Monday, March 31st. Fourteen equities research analysts have rated the stock with a hold rating, fourteen 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 has a consensus rating of "Moderate Buy" and a consensus price target of $511.62.

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.