Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Stock Position Lowered by SageView Advisory Group LLC

SageView Advisory Group LLC lessened its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 13.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,099 shares of the pharmaceutical company’s stock after selling 914 shares during the quarter. SageView Advisory Group LLC’s holdings in Vertex Pharmaceuticals were worth $2,836,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Groesbeck Investment Management Corp NJ lifted its position in shares of Vertex Pharmaceuticals by 1.2% in the 2nd quarter. Groesbeck Investment Management Corp NJ now owns 1,794 shares of the pharmaceutical company’s stock valued at $841,000 after acquiring an additional 21 shares in the last quarter. Mutual Advisors LLC lifted its position in shares of Vertex Pharmaceuticals by 0.6% in the 3rd quarter. Mutual Advisors LLC now owns 3,710 shares of the pharmaceutical company’s stock valued at $1,751,000 after acquiring an additional 21 shares in the last quarter. Institute for Wealth Management LLC. lifted its position in shares of Vertex Pharmaceuticals by 0.6% in the 2nd quarter. Institute for Wealth Management LLC. now owns 3,586 shares of the pharmaceutical company’s stock valued at $1,681,000 after acquiring an additional 22 shares in the last quarter. Drive Wealth Management LLC lifted its position in shares of Vertex Pharmaceuticals by 2.0% in the 2nd quarter. Drive Wealth Management LLC now owns 1,101 shares of the pharmaceutical company’s stock valued at $516,000 after acquiring an additional 22 shares in the last quarter. Finally, Daymark Wealth Partners LLC lifted its position in shares of Vertex Pharmaceuticals by 2.8% in the 3rd quarter. Daymark Wealth Partners LLC now owns 804 shares of the pharmaceutical company’s stock valued at $374,000 after acquiring an additional 22 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Up 1.5 %

NASDAQ VRTX opened at $463.98 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47. The company’s fifty day moving average is $472.91 and its two-hundred day moving average is $475.25. Vertex Pharmaceuticals Incorporated has a 52-week low of $348.46 and a 52-week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.61 by $0.77. The company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.69 billion. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the business posted $3.67 EPS. On average, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on VRTX shares. Royal Bank of Canada upped their price target on shares of Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 5th. Canaccord Genuity Group upped their price objective on shares of Vertex Pharmaceuticals from $361.00 to $408.00 and gave the company a “sell” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. dropped their price objective on shares of Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Oppenheimer dropped their price objective on shares of Vertex Pharmaceuticals from $550.00 to $540.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Finally, HC Wainwright reiterated a “buy” rating and issued a $600.00 price objective on shares of Vertex Pharmaceuticals in a research note on Monday, October 21st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $504.38.

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.