Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Position Trimmed by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 3.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 293,885 shares of the pharmaceutical company's stock after selling 11,261 shares during the period. Victory Capital Management Inc. owned 0.11% of Vertex Pharmaceuticals worth $142,481,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of VRTX. Mascagni Wealth Management Inc. acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter worth approximately $31,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Vertex Pharmaceuticals during the 4th quarter valued at $40,000. Minot DeBlois Advisors LLC acquired a new position in shares of Vertex Pharmaceuticals during the 4th quarter valued at $44,000. Prestige Wealth Management Group LLC lifted its position in shares of Vertex Pharmaceuticals by 45.5% during the 4th quarter. Prestige Wealth Management Group LLC now owns 112 shares of the pharmaceutical company's stock valued at $45,000 after acquiring an additional 35 shares during the period. Finally, SJS Investment Consulting Inc. lifted its position in shares of Vertex Pharmaceuticals by 46.2% during the 1st quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock valued at $46,000 after acquiring an additional 30 shares during the period. Institutional investors and hedge funds own 90.96% of the company's stock.

Vertex Pharmaceuticals Price Performance

VRTX traded down $6.28 during midday trading on Thursday, reaching $463.27. 1,251,767 shares of the company's stock were exchanged, compared to its average volume of 1,422,616. The stock has a market capitalization of $118.97 billion, a PE ratio of -118.18 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a 1-year low of $377.85 and a 1-year high of $519.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.65 and a quick ratio of 2.29. The business's 50-day moving average price is $448.13 and its 200 day moving average price is $461.63.

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). The business had revenue of $2.77 billion for 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%. The company's quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the firm earned $4.76 earnings per share. As a group, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Bank of America boosted their target price on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the company a "buy" rating in a research report on Monday, March 31st. Leerink Partnrs lowered shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Leerink Partners reaffirmed a "market perform" rating and issued a $503.00 target price (down from $550.00) on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. William Blair restated an "outperform" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Finally, Morgan Stanley dropped their target price on Vertex Pharmaceuticals from $464.00 to $460.00 and set an "equal weight" rating on the stock in a research report on Friday, June 20th. Fourteen investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $511.71.

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.