Eastern Bank Cuts Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Eastern Bank lowered its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 6.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,620 shares of the pharmaceutical company’s stock after selling 111 shares during the quarter. Eastern Bank’s holdings in Vertex Pharmaceuticals were worth $652,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Northwest Investment Counselors LLC purchased a new position in Vertex Pharmaceuticals during the 3rd quarter valued at approximately $25,000. Highline Wealth Partners LLC purchased a new position in Vertex Pharmaceuticals during the 3rd quarter valued at approximately $27,000. Dunhill Financial LLC grew its holdings in Vertex Pharmaceuticals by 70.6% during 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. GHP Investment Advisors Inc. purchased a new position in Vertex Pharmaceuticals during the 2nd quarter valued at approximately $29,000. Finally, Legacy Investment Solutions LLC purchased a new position in Vertex Pharmaceuticals during the 3rd quarter valued at approximately $33,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on VRTX shares. Citigroup started coverage on Vertex Pharmaceuticals in a report on Thursday, November 14th. They set a “buy” rating and a $575.00 price target for the company. Barclays cut their price target on Vertex Pharmaceuticals from $509.00 to $418.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Wells Fargo & Company dropped their target price on Vertex Pharmaceuticals from $555.00 to $460.00 and set an “overweight” rating for the company in a report on Friday. Stifel Nicolaus lifted their target price on Vertex Pharmaceuticals from $490.00 to $494.00 and gave the stock a “hold” rating in a report on Monday, December 16th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $480.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday, November 5th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $490.38.

Vertex Pharmaceuticals Trading Up 0.9 %

Shares of NASDAQ VRTX opened at $413.37 on Tuesday. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88. The business has a fifty day simple moving average of $447.69 and a two-hundred day simple moving average of $467.53. The firm has a market cap of $106.45 billion, a PE ratio of -207.72 and a beta of 0.40. 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 (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same period last year, the business posted $3.67 EPS. The business’s revenue was up 11.6% compared to the same quarter last year. Analysts expect that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share 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.