Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Stock Position Trimmed by Synovus Financial Corp

Synovus Financial Corp trimmed its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.0% in the third quarter, HoldingsChannel reports. The firm owned 11,159 shares of the pharmaceutical company’s stock after selling 111 shares during the period. Synovus Financial Corp’s holdings in Vertex Pharmaceuticals were worth $5,190,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of VRTX. Northwest Investment Counselors LLC acquired a new position in shares of Vertex Pharmaceuticals during the third quarter worth approximately $25,000. Dunhill Financial LLC increased its position in Vertex Pharmaceuticals by 70.6% in the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after acquiring an additional 24 shares during the period. Highline Wealth Partners LLC bought a new stake in Vertex Pharmaceuticals during the 3rd quarter valued at $27,000. GHP Investment Advisors Inc. acquired a new position in Vertex Pharmaceuticals during the 2nd quarter worth $29,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of Vertex Pharmaceuticals in the third quarter worth $33,000. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Down 0.1 %

NASDAQ VRTX opened at $463.73 on Friday. The firm’s 50 day moving average price is $473.50 and its two-hundred day moving average price is $475.84. The stock has a market cap of $119.42 billion, a price-to-earnings ratio of -233.03 and a beta of 0.36. Vertex Pharmaceuticals Incorporated has a twelve month low of $391.01 and a twelve month high of $519.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Bank of America cut their price objective on shares of Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Oppenheimer dropped their price target on shares of Vertex Pharmaceuticals from $550.00 to $540.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. UBS Group increased their price objective on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. StockNews.com lowered shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 21st. Finally, Raymond James restated a “market perform” rating on shares of Vertex Pharmaceuticals in a research report on Thursday, October 10th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $506.20.

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.