Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lessened its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,161 shares of the pharmaceutical company’s stock after selling 461 shares during the period. PNC Financial Services Group Inc.’s holdings in Vertex Pharmaceuticals were worth $37,894,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of VRTX. Aries Wealth Management acquired a new stake in shares of Vertex Pharmaceuticals during the first quarter worth about $293,000. Polar Asset Management Partners Inc. acquired a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth about $22,954,000. GAMMA Investing LLC boosted its stake in shares of Vertex Pharmaceuticals by 25.1% during the first quarter. GAMMA Investing LLC now owns 5,002 shares of the pharmaceutical company’s stock worth $2,425,000 after buying an additional 1,005 shares during the period. Brighton Jones LLC boosted its stake in shares of Vertex Pharmaceuticals by 45.0% during the first quarter. Brighton Jones LLC now owns 6,421 shares of the pharmaceutical company’s stock worth $3,113,000 after buying an additional 1,994 shares during the period. Finally, APG Asset Management N.V. boosted its stake in shares of Vertex Pharmaceuticals by 189.7% during the fourth quarter. APG Asset Management N.V. now owns 359,285 shares of the pharmaceutical company’s stock worth $139,724,000 after buying an additional 235,265 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Up 1.2%

Shares of Vertex Pharmaceuticals stock opened at $462.13 on Monday. Vertex Pharmaceuticals Incorporated has a 12-month low of $377.85 and a 12-month high of $519.88. 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 stock has a market cap of $118.67 billion, a PE ratio of -117.89 and a beta of 0.44. The company has a 50-day moving average of $455.62 and a two-hundred day moving average of $467.10.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results 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). Vertex Pharmaceuticals had a negative net margin of 8.91% and a negative return on equity of 3.36%. The company had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.85 billion. During the same period last year, the business posted $4.76 earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis. On average, research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Analysts Set New Price Targets

VRTX has been the subject of several recent research reports. Morgan Stanley decreased their target price on shares of Vertex Pharmaceuticals from $464.00 to $460.00 and set an “equal weight” rating for the company in a research note on Friday, June 20th. 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 report on Tuesday, June 17th. The Goldman Sachs Group reissued a “buy” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Leerink Partners reissued a “market perform” rating and set a $503.00 price target (down from $550.00) on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Finally, William Blair reissued an “outperform” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Fourteen research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $509.89.

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.