Braun Stacey Associates Inc. Sells 778 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Braun Stacey Associates Inc. reduced its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 1.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,672 shares of the pharmaceutical company's stock after selling 778 shares during the period. Braun Stacey Associates Inc.'s holdings in Vertex Pharmaceuticals were worth $21,658,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in VRTX. Mascagni Wealth Management Inc. acquired a new stake in shares of Vertex Pharmaceuticals in the 4th quarter valued at approximately $31,000. Truvestments Capital LLC boosted its stake in shares of Vertex Pharmaceuticals by 30.3% in the 4th quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock valued at $40,000 after purchasing an additional 23 shares in the last quarter. Mpwm Advisory Solutions LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 4th quarter valued at approximately $40,000. Minot DeBlois Advisors LLC acquired a new stake in Vertex Pharmaceuticals during the 4th quarter worth approximately $44,000. Finally, Prestige Wealth Management Group LLC boosted its position in Vertex Pharmaceuticals by 45.5% during the 4th quarter. Prestige Wealth Management Group LLC now owns 112 shares of the pharmaceutical company's stock worth $45,000 after buying an additional 35 shares during the period. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on VRTX. Wolfe Research downgraded shares of Vertex Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, May 7th. Cantor Fitzgerald reiterated an "overweight" rating and set a $535.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. JPMorgan Chase & Co. lifted their target price on shares of Vertex Pharmaceuticals from $512.00 to $515.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. HC Wainwright reiterated a "buy" rating and set a $550.00 target price on shares of Vertex Pharmaceuticals in a research report on Monday, June 23rd. Finally, Erste Group Bank downgraded shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. Fourteen equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $511.62.

Vertex Pharmaceuticals Trading Up 1.5%

Shares of NASDAQ:VRTX traded up $6.95 during mid-day trading on Tuesday, hitting $466.36. The company had a trading volume of 1,103,805 shares, compared to its average volume of 1,422,813. The firm has a fifty day moving average price of $449.35 and a 200 day moving average price of $459.33. The company has a market capitalization of $119.76 billion, a PE ratio of -118.97 and a beta of 0.41. 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 one year low of $377.85 and a one year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share for the quarter, missing the consensus estimate of $4.29 by ($0.23). The company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.85 billion. Vertex Pharmaceuticals had a negative net margin of 8.91% and a negative return on equity of 3.36%. The business's revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.76 EPS. As a group, research 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.