Beacon Investment Advisory Services Inc. Sells 61 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Beacon Investment Advisory Services Inc. reduced its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 79,171 shares of the pharmaceutical company’s stock after selling 61 shares during the period. Vertex Pharmaceuticals accounts for about 1.5% of Beacon Investment Advisory Services Inc.’s portfolio, making the stock its 20th largest position. Beacon Investment Advisory Services Inc.’s holdings in Vertex Pharmaceuticals were worth $36,821,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of VRTX. Edgewood Management LLC grew its holdings in Vertex Pharmaceuticals by 7,876.3% in the third quarter. Edgewood Management LLC now owns 1,546,370 shares of the pharmaceutical company’s stock worth $719,186,000 after purchasing an additional 1,526,983 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Vertex Pharmaceuticals by 18.1% in the 3rd quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company’s stock worth $2,581,373,000 after purchasing an additional 851,054 shares in the last quarter. AMF Tjanstepension AB purchased a new position in Vertex Pharmaceuticals during the 2nd quarter worth $257,655,000. International Assets Investment Management LLC increased its position in Vertex Pharmaceuticals by 74,015.5% during the 3rd quarter. International Assets Investment Management LLC now owns 324,626 shares of the pharmaceutical company’s stock valued at $150,977,000 after buying an additional 324,188 shares in the last quarter. Finally, AustralianSuper Pty Ltd purchased a new stake in Vertex Pharmaceuticals in the third quarter valued at about $105,282,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Vertex Pharmaceuticals stock opened at $468.13 on Monday. The company has a fifty day simple moving average of $472.87 and a 200-day simple moving average of $475.06. The firm has a market capitalization of $120.56 billion, a price-to-earnings ratio of -235.24 and a beta of 0.39. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a 52-week low of $347.51 and a 52-week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, beating analysts’ consensus estimates of $3.61 by $0.77. The company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.69 billion. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. Vertex Pharmaceuticals’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.67 EPS. On average, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on VRTX shares. Scotiabank upped their price objective on shares of Vertex Pharmaceuticals from $480.00 to $486.00 and gave the company a “sector perform” rating in a report on Tuesday, November 5th. HC Wainwright restated a “buy” rating and set a $600.00 price target on shares of Vertex Pharmaceuticals in a research note on Monday, October 21st. Royal Bank of Canada lifted their price objective on shares of Vertex Pharmaceuticals from $437.00 to $451.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 5th. Morgan Stanley raised their target price on Vertex Pharmaceuticals from $473.00 to $476.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Finally, UBS Group raised their price objective on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $504.38.

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.