Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. lessened its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 20.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,696 shares of the pharmaceutical company’s stock after selling 8,104 shares during the period. Pacer Advisors Inc.’s holdings in Vertex Pharmaceuticals were worth $14,882,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in VRTX. Mascagni Wealth Management Inc. purchased a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $31,000. Mpwm Advisory Solutions LLC purchased a new stake in Vertex Pharmaceuticals in the fourth quarter valued at $40,000. Minot DeBlois Advisors LLC acquired a new position in Vertex Pharmaceuticals in the fourth quarter valued at $44,000. SJS Investment Consulting Inc. grew its holdings in shares of Vertex Pharmaceuticals by 46.2% during the first quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company’s stock worth $46,000 after purchasing an additional 30 shares during the last quarter. Finally, Transce3nd LLC acquired a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth about $50,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on VRTX. Leerink Partnrs downgraded Vertex Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 6th. Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Wolfe Research cut Vertex Pharmaceuticals from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. lifted their target price on Vertex Pharmaceuticals from $515.00 to $517.00 and gave the company an “overweight” rating in a research note on Monday, July 14th. Finally, Morgan Stanley dropped their target price on Vertex Pharmaceuticals from $464.00 to $460.00 and set an “equal weight” rating on the stock in a report on Friday, June 20th. Fourteen equities research analysts have rated the stock with a hold rating, thirteen 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 stock presently has a consensus rating of “Moderate Buy” and an average price target of $512.30.

Vertex Pharmaceuticals Trading Down 0.6%

NASDAQ:VRTX opened at $469.65 on Friday. 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 2.29, a current ratio of 2.65 and a debt-to-equity ratio of 0.01. The stock has a fifty day simple moving average of $453.13 and a 200-day simple moving average of $465.05. The company has a market capitalization of $120.61 billion, a PE ratio of -119.81 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced 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). The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.85 billion. Vertex Pharmaceuticals had a negative return on equity of 3.36% and a negative net margin of 8.91%. The business’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.76 EPS. On average, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

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.