Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lowered its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 443,048 shares of the pharmaceutical company’s stock after selling 1,653 shares during the quarter. Vertex Pharmaceuticals accounts for about 0.7% of Chevy Chase Trust Holdings LLC’s holdings, making the stock its 21st biggest position. Chevy Chase Trust Holdings LLC owned about 0.17% of Vertex Pharmaceuticals worth $214,799,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in VRTX. Mascagni Wealth Management Inc. purchased a new stake in Vertex Pharmaceuticals during the 4th quarter worth about $31,000. Truvestments Capital LLC grew its holdings in Vertex Pharmaceuticals by 30.3% in the 4th quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company’s stock valued at $40,000 after buying an additional 23 shares during the period. Mpwm Advisory Solutions LLC purchased a new stake in Vertex Pharmaceuticals in the 4th quarter valued at about $40,000. Midwest Capital Advisors LLC acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at about $41,000. Finally, Minot DeBlois Advisors LLC acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at about $44,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on VRTX. Leerink Partnrs lowered Vertex Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 6th. Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Erste Group Bank downgraded Vertex Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Friday, May 23rd. The Goldman Sachs Group restated a “buy” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Finally, Leerink Partners reiterated a “market perform” rating and issued a $503.00 price target (down from $550.00) on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Fourteen analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $513.14.

Vertex Pharmaceuticals Stock Performance

Shares of Vertex Pharmaceuticals stock opened at $443.54 on Tuesday. 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 business has a 50-day moving average price of $458.17 and a two-hundred day moving average price of $459.38. Vertex Pharmaceuticals Incorporated has a 1-year low of $377.85 and a 1-year high of $519.88. The company has a market cap of $113.90 billion, a P/E ratio of -113.15 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued 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 net margin of 8.91% and a negative return on equity of 3.36%. The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same quarter in the prior year, the business earned $4.76 earnings per share. The business’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

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.