Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 2.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,711,665 shares of the pharmaceutical company's stock after selling 47,551 shares during the period. Bank of New York Mellon Corp owned approximately 0.67% of Vertex Pharmaceuticals worth $829,849,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Brighton Jones LLC increased its stake in shares of Vertex Pharmaceuticals by 15.0% during the 4th 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 in the last quarter. Jones Financial Companies Lllp grew its stake in Vertex Pharmaceuticals by 75.5% in the 4th quarter. Jones Financial Companies Lllp now owns 2,468 shares of the pharmaceutical company's stock worth $994,000 after acquiring an additional 1,062 shares during the period. Proficio Capital Partners LLC grew its stake in Vertex Pharmaceuticals by 46.6% in the 4th quarter. Proficio Capital Partners LLC now owns 978 shares of the pharmaceutical company's stock worth $394,000 after acquiring an additional 311 shares during the period. Raymond James Financial Inc. purchased a new stake in Vertex Pharmaceuticals in the 4th quarter worth approximately $190,037,000. Finally, Inceptionr LLC purchased a new stake in Vertex Pharmaceuticals in the 4th quarter worth approximately $268,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on VRTX. Needham & Company LLC reaffirmed a "hold" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. HC Wainwright reaffirmed a "buy" rating and issued a $550.00 target price on shares of Vertex Pharmaceuticals in a research note on Monday, June 23rd. Bank of America lifted their target price on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the stock a "buy" rating in a research note on Monday, March 31st. Leerink Partnrs lowered shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 6th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $535.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Fourteen analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $511.62.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX traded down $1.34 during trading on Monday, reaching $458.29. The company had a trading volume of 441,977 shares, compared to its average volume of 1,573,337. The firm's fifty day moving average is $450.84 and its 200 day moving average is $458.85. The firm has a market capitalization of $117.69 billion, a PE ratio of -116.91 and a beta of 0.41. 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 2.29 and a current ratio of 2.65.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share for the quarter, missing analysts' consensus estimates of $4.29 by ($0.23). The company had revenue of $2.77 billion during 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 company's revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the company posted $4.76 earnings per share. On average, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Vertex Pharmaceuticals 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.