Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Stake Lessened by Martingale Asset Management L P

Martingale Asset Management L P trimmed its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 14.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 53,327 shares of the pharmaceutical company’s stock after selling 9,345 shares during the period. Martingale Asset Management L P’s holdings in Vertex Pharmaceuticals were worth $24,801,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in VRTX. Groesbeck Investment Management Corp NJ raised its holdings in shares of Vertex Pharmaceuticals by 1.2% during the 2nd quarter. Groesbeck Investment Management Corp NJ now owns 1,794 shares of the pharmaceutical company’s stock valued at $841,000 after purchasing an additional 21 shares in the last quarter. Mutual Advisors LLC raised its holdings in Vertex Pharmaceuticals by 0.6% in the 3rd quarter. Mutual Advisors LLC now owns 3,710 shares of the pharmaceutical company’s stock worth $1,751,000 after acquiring an additional 21 shares during the period. Institute for Wealth Management LLC. raised its holdings in Vertex Pharmaceuticals by 0.6% in the 2nd quarter. Institute for Wealth Management LLC. now owns 3,586 shares of the pharmaceutical company’s stock worth $1,681,000 after acquiring an additional 22 shares during the period. Drive Wealth Management LLC raised its holdings in Vertex Pharmaceuticals by 2.0% in the 2nd quarter. Drive Wealth Management LLC now owns 1,101 shares of the pharmaceutical company’s stock worth $516,000 after acquiring an additional 22 shares during the period. Finally, Daymark Wealth Partners LLC raised its holdings in Vertex Pharmaceuticals by 2.8% in the 3rd quarter. Daymark Wealth Partners LLC now owns 804 shares of the pharmaceutical company’s stock worth $374,000 after acquiring an additional 22 shares during the period. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX opened at $464.56 on Friday. The firm has a 50-day moving average of $472.81 and a 200-day moving average of $474.22. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47. The stock has a market cap of $119.64 billion, a PE ratio of -233.45 and a beta of 0.39. Vertex Pharmaceuticals Incorporated has a 52-week low of $346.29 and a 52-week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued 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. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The business had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.69 billion. During the same quarter in the previous year, the company earned $3.67 EPS. The business’s revenue was up 11.6% on a year-over-year basis. On average, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.83 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. StockNews.com downgraded shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 21st. Cantor Fitzgerald restated an “overweight” rating and set a $480.00 price objective on shares of Vertex Pharmaceuticals in a report on Tuesday, November 5th. HC Wainwright restated a “buy” rating and set a $600.00 price objective on shares of Vertex Pharmaceuticals in a report on Monday, October 21st. Bank of America dropped their price objective on shares of Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Finally, Scotiabank boosted their price objective on shares of Vertex Pharmaceuticals from $480.00 to $486.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 5th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $504.38.

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.