Gateway Investment Advisers LLC Lowers Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Gateway Investment Advisers LLC trimmed its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,842 shares of the pharmaceutical company’s stock after selling 719 shares during the period. Gateway Investment Advisers LLC’s holdings in Vertex Pharmaceuticals were worth $26,515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in VRTX. Northwest Investment Counselors LLC bought a new position in shares of Vertex Pharmaceuticals in the 3rd quarter worth $25,000. Highline Wealth Partners LLC bought a new stake in Vertex Pharmaceuticals during the third quarter valued at about $27,000. Dunhill Financial LLC grew its stake in Vertex Pharmaceuticals by 70.6% in the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 24 shares during the last quarter. Legacy Investment Solutions LLC bought a new position in Vertex Pharmaceuticals in the third quarter worth about $33,000. Finally, Truvestments Capital LLC purchased a new stake in shares of Vertex Pharmaceuticals during the third quarter valued at about $35,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

VRTX opened at $416.96 on Friday. The firm has a fifty day moving average price of $444.54 and a 200 day moving average price of $466.83. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its 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. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same period in the prior year, the company posted $3.67 EPS. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, research analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on VRTX shares. JPMorgan Chase & Co. reduced their price objective on shares of Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Raymond James reiterated a “market perform” rating on shares of Vertex Pharmaceuticals in a report on Thursday, October 10th. Morgan Stanley boosted their target price on Vertex Pharmaceuticals from $473.00 to $476.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Citigroup initiated coverage on Vertex Pharmaceuticals in a report on Thursday, November 14th. They issued a “buy” rating and a $575.00 price target for the company. Finally, Stifel Nicolaus boosted their price target on Vertex Pharmaceuticals from $490.00 to $494.00 and gave the stock a “hold” rating in a research note on Monday, December 16th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $490.38.

About Vertex Pharmaceuticals

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.