West Family Investments Inc. Cuts Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

West Family Investments Inc. lessened its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 49.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,348 shares of the pharmaceutical company's stock after selling 1,304 shares during the quarter. West Family Investments Inc.'s holdings in Vertex Pharmaceuticals were worth $654,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Aries Wealth Management purchased a new position in Vertex Pharmaceuticals during the first quarter worth approximately $293,000. Polar Asset Management Partners Inc. purchased a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth $22,954,000. Brighton Jones LLC boosted its position in shares of Vertex Pharmaceuticals by 45.0% during the 1st quarter. Brighton Jones LLC now owns 6,421 shares of the pharmaceutical company's stock valued at $3,113,000 after acquiring an additional 1,994 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Vertex Pharmaceuticals by 25.1% in the first quarter. GAMMA Investing LLC now owns 5,002 shares of the pharmaceutical company's stock valued at $2,425,000 after purchasing an additional 1,005 shares during the period. Finally, APG Asset Management N.V. increased its position in Vertex Pharmaceuticals by 189.7% during the fourth 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 last quarter. Hedge funds and other institutional investors own 90.96% of the company's stock.

Wall Street Analysts Forecast Growth

VRTX has been the subject of several analyst reports. Royal Bank Of Canada set a $420.00 price target on shares of Vertex Pharmaceuticals and gave the company a "sector perform" rating in a research note on Tuesday, June 17th. The Goldman Sachs Group reiterated a "buy" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. HC Wainwright reissued a "buy" rating and set a $550.00 target price on shares of Vertex Pharmaceuticals in a research note on Monday, June 23rd. Bank of America upped their price target on Vertex Pharmaceuticals from $555.00 to $567.00 and gave the company a "buy" rating in a research note on Monday, March 31st. Finally, Leerink Partners reissued a "market perform" rating and set a $503.00 price objective (down from $550.00) on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Fourteen investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $511.71.

Vertex Pharmaceuticals Stock Down 1.3%

Shares of Vertex Pharmaceuticals stock traded down $6.28 during trading on Thursday, hitting $463.27. 1,251,767 shares of the stock were exchanged, compared to its average volume of 1,423,711. The stock has a market cap of $118.97 billion, a price-to-earnings ratio of -118.18 and a beta of 0.41. The firm's 50-day moving average price is $448.13 and its 200 day moving average price is $461.63. 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 Incorporated has a 12-month low of $377.85 and a 12-month high of $519.88.

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

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.