Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Stock Holdings Decreased by Banque Pictet & Cie SA

Banque Pictet & Cie SA lowered its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 5.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 11,373 shares of the pharmaceutical company’s stock after selling 670 shares during the period. Banque Pictet & Cie SA’s holdings in Vertex Pharmaceuticals were worth $5,514,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mascagni Wealth Management Inc. bought a new stake in shares of Vertex Pharmaceuticals during the 4th quarter valued at about $31,000. Truvestments Capital LLC grew its position in shares of Vertex Pharmaceuticals by 30.3% during the 4th quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company’s stock valued at $40,000 after buying an additional 23 shares during the last quarter. Mpwm Advisory Solutions LLC bought a new stake in shares of Vertex Pharmaceuticals during the 4th quarter valued at about $40,000. Minot DeBlois Advisors LLC bought a new stake in shares of Vertex Pharmaceuticals during the 4th quarter valued at about $44,000. Finally, Prestige Wealth Management Group LLC grew 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 buying an additional 35 shares during the last quarter. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX opened at $478.96 on Thursday. The company has a current ratio of 2.65, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01. The company has a market cap of $123.00 billion, a P/E ratio of -122.18 and a beta of 0.41. The company has a fifty day simple moving average of $448.74 and a 200 day simple moving average of $459.47. Vertex Pharmaceuticals Incorporated has a 12-month low of $377.85 and a 12-month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data 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 firm had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.85 billion. Vertex Pharmaceuticals had a negative return on equity of 3.36% and a negative net margin of 8.91%. Vertex Pharmaceuticals’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.76 earnings per share. Sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on VRTX shares. Cantor Fitzgerald restated an “overweight” rating and issued a $535.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Erste Group Bank lowered shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 23rd. Scotiabank reduced their price target on shares of Vertex Pharmaceuticals from $450.00 to $442.00 and set a “sector perform” rating for the company in a research note on Tuesday, May 6th. HC Wainwright reaffirmed a “buy” rating and issued a $550.00 price target on shares of Vertex Pharmaceuticals in a research note on Monday, June 23rd. Finally, Royal Bank Of Canada set a $420.00 price target on shares of Vertex Pharmaceuticals and gave the stock a “sector perform” rating in a research note on Tuesday, June 17th. Fourteen investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $511.62.

Vertex Pharmaceuticals 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.