Griffin Asset Management Inc. Sells 115 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Griffin Asset Management Inc. lessened its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,017 shares of the pharmaceutical company’s stock after selling 115 shares during the period. Griffin Asset Management Inc.’s holdings in Vertex Pharmaceuticals were worth $3,887,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Capital World Investors boosted its holdings in shares of Vertex Pharmaceuticals by 5.7% during the 4th quarter. Capital World Investors now owns 28,325,695 shares of the pharmaceutical company’s stock valued at $11,406,667,000 after buying an additional 1,514,993 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Vertex Pharmaceuticals by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 23,258,288 shares of the pharmaceutical company’s stock valued at $9,366,113,000 after buying an additional 98,654 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of Vertex Pharmaceuticals by 15.8% during the 4th quarter. Capital Research Global Investors now owns 10,428,951 shares of the pharmaceutical company’s stock valued at $4,199,713,000 after buying an additional 1,426,746 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Vertex Pharmaceuticals by 23.3% during the 4th quarter. Wellington Management Group LLP now owns 5,916,084 shares of the pharmaceutical company’s stock valued at $2,382,407,000 after buying an additional 1,117,214 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted its holdings in shares of Vertex Pharmaceuticals by 23.0% during the 4th quarter. Loomis Sayles & Co. L P now owns 3,772,789 shares of the pharmaceutical company’s stock valued at $1,519,302,000 after buying an additional 704,575 shares in the last quarter. Institutional investors own 90.96% of the company’s stock.

Analyst Upgrades and Downgrades

VRTX has been the topic of a number of analyst reports. The Goldman Sachs Group reiterated a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. William Blair reiterated an “outperform” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Royal Bank of Canada upped their price target on shares of Vertex Pharmaceuticals from $420.00 to $423.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 6th. Morgan Stanley upped their price target on shares of Vertex Pharmaceuticals from $462.00 to $464.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 6th. Finally, Needham & Company LLC reiterated a “hold” 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, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $515.04.

Vertex Pharmaceuticals Price Performance

NASDAQ VRTX opened at $455.45 on Friday. The company has a 50-day moving average price of $462.54 and a 200-day moving average price of $460.16. The firm has a market capitalization of $116.96 billion, a P/E ratio of -207.02, a PEG ratio of 2.11 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a 52 week low of $377.85 and a 52 week high of $519.88. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.29 by ($0.23). The firm had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.85 billion. Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. The company’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company posted $4.76 earnings per share. Equities research analysts anticipate that Vertex Pharmaceuticals Incorporated 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.