Procyon Advisors LLC Sells 375 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Procyon Advisors LLC cut its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.5% in the 4th quarter, HoldingsChannel reports. The fund owned 14,635 shares of the pharmaceutical company’s stock after selling 375 shares during the period. Procyon Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $5,894,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Northwest Investment Counselors LLC purchased a new position in Vertex Pharmaceuticals during the third quarter worth about $25,000. Highline Wealth Partners LLC purchased a new position in shares of Vertex Pharmaceuticals in the 3rd quarter worth approximately $27,000. Dunhill Financial LLC grew its holdings 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 acquiring an additional 24 shares in the last quarter. Legacy Investment Solutions LLC purchased a new stake in shares of Vertex Pharmaceuticals during the third quarter valued at approximately $33,000. Finally, Truvestments Capital LLC bought a new stake in Vertex Pharmaceuticals during the third quarter worth $35,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on VRTX shares. Barclays lowered their target price on Vertex Pharmaceuticals from $509.00 to $418.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Citigroup initiated coverage on Vertex Pharmaceuticals in a report on Thursday, November 14th. They issued a “buy” rating and a $575.00 price objective for the company. HC Wainwright dropped their price objective on shares of Vertex Pharmaceuticals from $600.00 to $535.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Wells Fargo & Company lowered their price target on shares of Vertex Pharmaceuticals from $555.00 to $460.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. Finally, William Blair restated an “outperform” rating on shares of Vertex Pharmaceuticals in a research note on Monday. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $490.38.

Vertex Pharmaceuticals Stock Down 1.7 %

NASDAQ VRTX opened at $416.96 on Friday. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20. The business’s 50-day moving average is $444.54 and its 200 day moving average is $466.83.

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, 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 analysts’ expectations of $2.69 billion. During the same period in the previous year, the firm earned $3.67 earnings per share. The business’s revenue was up 11.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.9 EPS for the current fiscal year.

Vertex Pharmaceuticals 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.