Banque Pictet & Cie SA Lowers Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Banque Pictet & Cie SA trimmed its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 5.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,373 shares of the pharmaceutical company's stock after selling 670 shares during the period. Banque Pictet & Cie SA's holdings in Vertex Pharmaceuticals were worth $5,514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in shares of Vertex Pharmaceuticals by 15.0% in 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 during the period. Proficio Capital Partners LLC lifted its position in shares of 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 purchasing an additional 311 shares during the period. Larson Financial Group LLC lifted its position in shares of Vertex Pharmaceuticals by 16.5% in the 4th quarter. Larson Financial Group LLC now owns 486 shares of the pharmaceutical company's stock worth $196,000 after purchasing an additional 69 shares during the period. Independent Advisor Alliance lifted its position in shares of Vertex Pharmaceuticals by 89.8% in the 4th quarter. Independent Advisor Alliance now owns 2,228 shares of the pharmaceutical company's stock worth $897,000 after purchasing an additional 1,054 shares during the period. Finally, Davis R M Inc. lifted its position in shares of Vertex Pharmaceuticals by 24.4% in the 4th quarter. Davis R M Inc. now owns 1,045 shares of the pharmaceutical company's stock worth $421,000 after purchasing an additional 205 shares during the period. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Trading Down 1.8%

Vertex Pharmaceuticals stock traded down $8.58 during midday trading on Friday, hitting $470.96. 480,514 shares of the stock were exchanged, compared to its average volume of 1,420,582. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The stock has a market capitalization of $120.94 billion, a price-to-earnings ratio of -119.99 and a beta of 0.41. The stock's 50-day simple moving average is $448.35 and its 200 day simple moving average is $459.98. The company has a current ratio of 2.65, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01.

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 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 company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same quarter in the prior year, the business earned $4.76 earnings per share. Vertex Pharmaceuticals's revenue was up 2.6% on a year-over-year basis. On average, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Needham & Company LLC reiterated a "hold" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. JPMorgan Chase & Co. boosted their price objective on shares of Vertex Pharmaceuticals from $512.00 to $515.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. The Goldman Sachs Group reiterated a "buy" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Royal Bank Of Canada set a $420.00 price objective on shares of Vertex Pharmaceuticals and gave the stock a "sector perform" rating in a research note on Tuesday, June 17th. Finally, Leerink Partners reiterated a "market perform" rating and set a $503.00 price objective (down previously from $550.00) on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Fourteen analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average 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.