Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Arrow Financial Corp

Arrow Financial Corp cut its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 39.6% during the 1st quarter, Holdings Channel.com reports. The fund owned 3,385 shares of the pharmaceutical company’s stock after selling 2,220 shares during the period. Arrow Financial Corp’s holdings in Vertex Pharmaceuticals were worth $1,641,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of VRTX. Mascagni Wealth Management Inc. acquired a new stake in shares of Vertex Pharmaceuticals in the fourth quarter worth approximately $31,000. Mpwm Advisory Solutions LLC acquired a new position in Vertex Pharmaceuticals during the fourth quarter valued at approximately $40,000. Minot DeBlois Advisors LLC acquired a new position in Vertex Pharmaceuticals during the fourth quarter valued at approximately $44,000. Prestige Wealth Management Group LLC lifted its position in Vertex Pharmaceuticals by 45.5% during the fourth 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 in the last quarter. Finally, SJS Investment Consulting Inc. lifted its position in Vertex Pharmaceuticals by 46.2% during the first quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company’s stock valued at $46,000 after buying an additional 30 shares in the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX opened at $457.87 on Monday. The firm has a market cap of $117.58 billion, a PE ratio of -116.68 and a beta of 0.41. The stock’s fifty day moving average price is $449.49 and its two-hundred day moving average price is $463.28. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.65 and a quick ratio of 2.29. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 EPS for the quarter, missing the consensus estimate of $4.29 by ($0.23). Vertex Pharmaceuticals had a negative return on equity of 3.36% and a negative net margin of 8.91%. The business had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.85 billion. During the same quarter in the previous year, the firm earned $4.76 earnings per share. Vertex Pharmaceuticals’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on VRTX shares. Royal Bank Of Canada set a $420.00 price objective on shares of Vertex Pharmaceuticals and gave the company a “sector perform” rating in a research note on Tuesday, June 17th. Leerink Partners reaffirmed a “market perform” rating and issued a $503.00 price objective (down previously from $550.00) on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $535.00 price objective on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Leerink Partnrs cut shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 6th. Finally, Erste Group Bank cut shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 23rd. Fourteen investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $511.71.

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.