CCM Investment Advisers LLC Sells 7,770 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

CCM Investment Advisers LLC trimmed its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 25.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,202 shares of the pharmaceutical company's stock after selling 7,770 shares during the period. CCM Investment Advisers LLC's holdings in Vertex Pharmaceuticals were worth $8,941,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. MGO One Seven LLC grew its position in Vertex Pharmaceuticals by 98.5% during the 2nd quarter. MGO One Seven LLC now owns 3,221 shares of the pharmaceutical company's stock worth $1,510,000 after purchasing an additional 1,598 shares in the last quarter. LPL Financial LLC grew its stake in Vertex Pharmaceuticals by 14.4% during the 2nd quarter. LPL Financial LLC now owns 209,839 shares of the pharmaceutical company's stock valued at $98,356,000 after acquiring an additional 26,468 shares in the last quarter. Main Street Financial Solutions LLC increased its holdings in shares of Vertex Pharmaceuticals by 16.4% in the 2nd quarter. Main Street Financial Solutions LLC now owns 2,699 shares of the pharmaceutical company's stock valued at $1,265,000 after purchasing an additional 381 shares during the period. Nicholas Investment Partners LP lifted its position in shares of Vertex Pharmaceuticals by 29.8% in the second quarter. Nicholas Investment Partners LP now owns 5,636 shares of the pharmaceutical company's stock worth $2,642,000 after purchasing an additional 1,293 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its holdings in shares of Vertex Pharmaceuticals by 8.7% during the second quarter. Oppenheimer & Co. Inc. now owns 13,729 shares of the pharmaceutical company's stock worth $6,435,000 after purchasing an additional 1,099 shares during the period. Institutional investors and hedge funds own 90.96% of the company's stock.

Analysts Set New Price Targets

VRTX has been the topic of several research analyst reports. Citigroup started coverage on shares of Vertex Pharmaceuticals in a report on Thursday, November 14th. They set a "buy" rating and a $575.00 price target on the stock. Royal Bank of Canada boosted their price target on Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a "sector perform" rating in a research note on Tuesday, November 5th. Barclays reduced their target price on shares of Vertex Pharmaceuticals from $509.00 to $418.00 and set an "equal weight" rating for the company in a research note on Friday, December 20th. Bank of America cut their price target on shares of Vertex Pharmaceuticals from $545.00 to $522.00 and set a "buy" rating on the stock in a report on Thursday, December 19th. Finally, Morgan Stanley increased their target price on shares of Vertex Pharmaceuticals from $473.00 to $476.00 and gave the stock an "equal weight" rating in a research report on Tuesday, November 5th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $490.38.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock traded down $2.55 during midday trading on Friday, hitting $409.56. 1,687,861 shares of the company were exchanged, compared to its average volume of 1,513,822. The firm has a market capitalization of $105.47 billion, a P/E ratio of -205.81 and a beta of 0.40. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47. Vertex Pharmaceuticals Incorporated has a 52 week low of $377.85 and a 52 week high of $519.88. The firm's 50 day moving average price is $450.11 and its two-hundred day moving average price is $468.49.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $2.69 billion. During the same period last year, the firm earned $3.67 earnings per share. Vertex Pharmaceuticals's revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share for the current year.

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.