Chevy Chase Trust Holdings LLC Trims Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Chevy Chase Trust Holdings LLC decreased its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 0.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 443,048 shares of the pharmaceutical company's stock after selling 1,653 shares during the period. Vertex Pharmaceuticals accounts for 0.7% of Chevy Chase Trust Holdings LLC's investment portfolio, making the stock its 21st largest holding. Chevy Chase Trust Holdings LLC owned about 0.17% of Vertex Pharmaceuticals worth $214,799,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Jones Financial Companies Lllp increased its position in Vertex Pharmaceuticals by 75.5% during the fourth quarter. Jones Financial Companies Lllp now owns 2,468 shares of the pharmaceutical company's stock worth $994,000 after buying an additional 1,062 shares during the period. Aries Wealth Management purchased a new position in shares of Vertex Pharmaceuticals during the first quarter worth approximately $293,000. Polar Asset Management Partners Inc. acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at $22,954,000. Brighton Jones LLC raised its position in Vertex Pharmaceuticals by 45.0% in the 1st quarter. Brighton Jones LLC now owns 6,421 shares of the pharmaceutical company's stock valued at $3,113,000 after purchasing an additional 1,994 shares during the last quarter. Finally, APG Asset Management N.V. boosted its stake in Vertex Pharmaceuticals by 189.7% during the 4th quarter. APG Asset Management N.V. now owns 359,285 shares of the pharmaceutical company's stock worth $139,724,000 after purchasing an additional 235,265 shares during the period. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Price Performance

Vertex Pharmaceuticals stock traded down $4.45 during trading hours on Wednesday, hitting $445.82. The stock had a trading volume of 1,077,142 shares, compared to its average volume of 1,414,388. Vertex Pharmaceuticals Incorporated has a 1-year low of $377.85 and a 1-year high of $519.88. The stock has a market capitalization of $114.49 billion, a price-to-earnings ratio of -113.73 and a beta of 0.41. The stock's fifty day moving average is $457.17 and its two-hundred day moving average is $459.32. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.65 and a quick ratio of 2.29.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued 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). The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.85 billion. Vertex Pharmaceuticals had a negative net margin of 8.91% and a negative return on equity of 3.36%. Vertex Pharmaceuticals's revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the company posted $4.76 earnings per share. As a group, analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on VRTX. Morgan Stanley dropped their price objective on shares of Vertex Pharmaceuticals from $464.00 to $460.00 and set an "equal weight" rating on the stock in a research note on Friday, June 20th. Bank of America boosted their price target on Vertex Pharmaceuticals from $555.00 to $567.00 and gave the company a "buy" rating in a research report on Monday, March 31st. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $535.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Wolfe Research cut Vertex Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, May 7th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Fourteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average target price of $513.14.

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.