Virtu Financial LLC Sells 9,705 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Virtu Financial LLC cut its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 67.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,682 shares of the pharmaceutical company’s stock after selling 9,705 shares during the quarter. Virtu Financial LLC’s holdings in Vertex Pharmaceuticals were worth $2,177,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new position in Vertex Pharmaceuticals in the third quarter valued at about $25,000. Dunhill Financial LLC increased its stake in shares of 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 buying an additional 24 shares during the period. Highline Wealth Partners LLC bought a new position in Vertex Pharmaceuticals in the 3rd quarter valued at approximately $27,000. GHP Investment Advisors Inc. acquired a new stake in Vertex Pharmaceuticals during the 2nd quarter worth approximately $29,000. Finally, Legacy Investment Solutions LLC bought a new stake in Vertex Pharmaceuticals during the 3rd quarter worth approximately $33,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on VRTX shares. Citigroup assumed coverage on shares of Vertex Pharmaceuticals in a research note on Thursday, November 14th. They set a “buy” rating and a $575.00 price target for the company. Scotiabank raised their target price on Vertex Pharmaceuticals from $480.00 to $486.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. decreased their price target on Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Canaccord Genuity Group raised their price objective on Vertex Pharmaceuticals from $361.00 to $408.00 and gave the stock a “sell” rating in a research report on Wednesday, November 6th. Finally, Morgan Stanley upped their target price on Vertex Pharmaceuticals from $473.00 to $476.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $506.20.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX opened at $464.12 on Friday. Vertex Pharmaceuticals Incorporated has a twelve month low of $372.80 and a twelve month high of $519.88. The stock’s 50 day moving average is $473.12 and its 200-day moving average is $475.88. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $119.52 billion, a price-to-earnings ratio of -233.23 and a beta of 0.36.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, topping the consensus estimate of $3.61 by $0.77. The firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate 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 revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.67 earnings per share. Sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.83 EPS for the current fiscal 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.