Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Stake Decreased by Procyon Advisors LLC

Procyon Advisors LLC decreased its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,635 shares of the pharmaceutical company’s stock after selling 375 shares during the quarter. Procyon Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $5,894,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of VRTX. State Street Corp lifted its position in shares of Vertex Pharmaceuticals by 0.8% in the 3rd quarter. State Street Corp now owns 11,816,249 shares of the pharmaceutical company’s stock valued at $5,495,501,000 after acquiring an additional 90,173 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Vertex Pharmaceuticals by 18.1% during 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 during the last quarter. Wellington Management Group LLP raised its holdings in shares of Vertex Pharmaceuticals by 17.2% during the 3rd quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company’s stock valued at $2,231,858,000 after purchasing an additional 704,421 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Vertex Pharmaceuticals by 5.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,905,705 shares of the pharmaceutical company’s stock valued at $1,351,385,000 after purchasing an additional 159,693 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Vertex Pharmaceuticals by 4.1% in the third quarter. Janus Henderson Group PLC now owns 2,516,831 shares of the pharmaceutical company’s stock worth $1,170,506,000 after purchasing an additional 100,114 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Wall Street Analysts Forecast Growth

VRTX has been the topic of a number of analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, December 20th. Scotiabank upped their target price on Vertex Pharmaceuticals from $426.00 to $430.00 and gave the company a “sector perform” rating in a research note on Monday, December 23rd. Wells Fargo & Company cut their price objective on Vertex Pharmaceuticals from $555.00 to $460.00 and set an “overweight” rating for the company in a research report on Friday, January 10th. Raymond James reissued a “market perform” rating on shares of Vertex Pharmaceuticals in a research note on Thursday, October 10th. Finally, Canaccord Genuity Group raised their target price on Vertex Pharmaceuticals from $361.00 to $408.00 and gave the company a “sell” rating in a research note on Wednesday, November 6th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $490.38.

Vertex Pharmaceuticals Trading Down 1.7 %

Shares of NASDAQ VRTX opened at $416.96 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20. The firm has a fifty day simple moving average of $444.54 and a 200 day simple moving average of $466.83. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, beating the consensus estimate of $3.61 by $0.77. The company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.67 EPS. On average, equities research analysts predict that Vertex Pharmaceuticals Incorporated will post -1.9 EPS for the current fiscal year.

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.