Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Short Interest Update

Key Points

• Vertex Pharmaceuticals saw a dramatic increase in short interest, rising by 4,237.5% in July to a total of 4,190,000 shares, representing about 1.6% of the stock being short sold.
• The company reported a Q1 earnings miss with $4.06 EPS, falling short of estimates, alongside a revenue of $2.77 billion against an expected $2.85 billion.
• Analyst ratings reflect a consensus of "Moderate Buy", with fourteen analysts giving a hold rating and a consensus price target of $512.30.

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Get Free Report) saw a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 4,190,000 shares, anincreaseof4,237.5% from the June 30th total of 96,600 shares. Approximately1.6% of the shares of the stock are short sold. Based on an average trading volume of 1,510,000 shares, the short-interest ratio is presently 2.8 days. Based on an average trading volume of 1,510,000 shares, the short-interest ratio is presently 2.8 days. Approximately1.6% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on VRTX. Leerink Partnrs downgraded shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 6th. Needham & Company LLC restated a "hold" rating on shares of Vertex Pharmaceuticals in a report 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. Erste Group Bank downgraded shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Fourteen research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Vertex Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus price target of $512.30.

Hedge Funds Weigh In On Vertex Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of VRTX. Brighton Jones LLC lifted its holdings in Vertex Pharmaceuticals by 15.0% in the 4th quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company's stock valued at $1,783,000 after acquiring an additional 579 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Vertex Pharmaceuticals in the 4th quarter valued at about $3,731,000. Summit Financial LLC lifted its holdings in Vertex Pharmaceuticals by 32.2% in the 4th quarter. Summit Financial LLC now owns 1,823 shares of the pharmaceutical company's stock valued at $734,000 after acquiring an additional 444 shares during the last quarter. Nicolet Advisory Services LLC boosted its holdings in shares of Vertex Pharmaceuticals by 9.7% in the fourth quarter. Nicolet Advisory Services LLC now owns 703 shares of the pharmaceutical company's stock worth $288,000 after buying an additional 62 shares during the period. Finally, Motley Fool Asset Management LLC boosted its holdings in shares of Vertex Pharmaceuticals by 15.8% in the fourth quarter. Motley Fool Asset Management LLC now owns 13,484 shares of the pharmaceutical company's stock worth $5,430,000 after buying an additional 1,840 shares during the period. Institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Price Performance

VRTX traded up $6.15 on Friday, reaching $463.02. The company had a trading volume of 1,015,234 shares, compared to its average volume of 1,515,065. The company has a fifty day moving average of $455.09 and a 200-day moving average of $466.12. The company has a market capitalization of $118.90 billion, a P/E ratio of -118.10 and a beta of 0.41. 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 has a one year low of $377.85 and a one year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its 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). 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 quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.76 EPS. As a group, equities research analysts anticipate that Vertex Pharmaceuticals will post 15.63 earnings per share for the current year.

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.

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