Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Institute for Wealth Management LLC.

Institute for Wealth Management LLC. cut its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,614 shares of the pharmaceutical company’s stock after selling 25 shares during the period. Institute for Wealth Management LLC.’s holdings in Vertex Pharmaceuticals were worth $1,456,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in VRTX. Northwest Investment Counselors LLC acquired a new position in Vertex Pharmaceuticals during the 3rd quarter worth $25,000. Highline Wealth Partners LLC bought a new stake in shares of Vertex Pharmaceuticals during the third quarter valued at about $27,000. Dunhill Financial LLC grew 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 buying an additional 24 shares in the last quarter. Legacy Investment Solutions LLC acquired a new position in Vertex Pharmaceuticals during the 3rd quarter valued at about $33,000. Finally, Truvestments Capital LLC bought a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter worth about $35,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on VRTX shares. Citigroup began coverage on shares of Vertex Pharmaceuticals in a research note on Thursday, November 14th. They set a “buy” rating and a $575.00 price objective on the stock. Royal Bank of Canada lifted their price target on Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 5th. Piper Sandler cut their price objective on Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating for the company in a report on Monday. JPMorgan Chase & Co. lowered their target price on Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. Finally, Wells Fargo & Company downgraded shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 price target for the company. in a report on Thursday. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $494.76.

Vertex Pharmaceuticals Trading Down 0.7 %

Shares of NASDAQ:VRTX opened at $438.40 on Friday. The firm has a fifty day moving average of $434.56 and a two-hundred day moving average of $463.49. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a 12-month low of $377.85 and a 12-month high of $519.88. The firm has a market capitalization of $112.90 billion, a P/E ratio of -220.30, a price-to-earnings-growth ratio of 2.29 and a beta of 0.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 1.91% and a negative net margin of 4.52%. The firm’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. On average, equities analysts expect that Vertex Pharmaceuticals Incorporated will post -1.93 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.