Cherry Creek Investment Advisors Inc. Sells 143 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Cherry Creek Investment Advisors Inc. cut its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,179 shares of the pharmaceutical company’s stock after selling 143 shares during the quarter. Cherry Creek Investment Advisors Inc.’s holdings in Vertex Pharmaceuticals were worth $1,280,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Driehaus Capital Management LLC raised its stake in Vertex Pharmaceuticals by 25.2% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,169 shares of the pharmaceutical company’s stock worth $548,000 after purchasing an additional 235 shares in the last quarter. Creative Planning increased its holdings in shares of Vertex Pharmaceuticals by 5.3% during the second quarter. Creative Planning now owns 79,117 shares of the pharmaceutical company’s stock worth $37,084,000 after purchasing an additional 3,998 shares during the period. NewEdge Advisors LLC raised its position in shares of Vertex Pharmaceuticals by 5.5% in the second quarter. NewEdge Advisors LLC now owns 13,632 shares of the pharmaceutical company’s stock valued at $6,390,000 after buying an additional 709 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Vertex Pharmaceuticals by 92.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 15,942 shares of the pharmaceutical company’s stock valued at $7,471,000 after buying an additional 7,647 shares during the period. Finally, Regal Investment Advisors LLC grew its position in Vertex Pharmaceuticals by 3.7% during the second quarter. Regal Investment Advisors LLC now owns 2,056 shares of the pharmaceutical company’s stock worth $963,000 after buying an additional 73 shares in the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Trading Up 1.0 %

NASDAQ VRTX opened at $443.88 on Tuesday. The stock has a market capitalization of $114.31 billion, a P/E ratio of -223.06, a P/E/G ratio of 2.20 and a beta of 0.40. The business has a 50 day simple moving average of $435.36 and a 200 day simple moving average of $464.32. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20. Vertex Pharmaceuticals Incorporated has a one year low of $377.85 and a one year high of $519.88.

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, beating the consensus estimate of $3.61 by $0.77. The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.69 billion. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. Vertex Pharmaceuticals’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.67 EPS. Research analysts expect that Vertex Pharmaceuticals Incorporated will post -1.9 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on VRTX shares. Wells Fargo & Company cut their target price on Vertex Pharmaceuticals from $555.00 to $460.00 and set an “overweight” rating for the company in a research report on Friday, January 10th. William Blair reissued an “outperform” rating on shares of Vertex Pharmaceuticals in a report on Monday, January 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $480.00 price target on shares of Vertex Pharmaceuticals in a report on Friday. Bank of America decreased their price objective on shares of Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Finally, Piper Sandler cut their target price on Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating for the company in a research note on Monday. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $494.76.

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.