B. Riley Wealth Advisors Inc. Reduces Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

B. Riley Wealth Advisors Inc. cut its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 13.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,996 shares of the pharmaceutical company's stock after selling 1,393 shares during the period. B. Riley Wealth Advisors Inc.'s holdings in Vertex Pharmaceuticals were worth $4,141,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in VRTX. Northwest Investment Counselors LLC bought a new position in Vertex Pharmaceuticals during the third quarter valued at about $25,000. Dunhill Financial LLC lifted its holdings in Vertex Pharmaceuticals by 70.6% during the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company's stock valued at $27,000 after purchasing an additional 24 shares during the last quarter. Highline Wealth Partners LLC bought a new position in Vertex Pharmaceuticals during the third quarter worth about $27,000. GHP Investment Advisors Inc. purchased a new position in shares of Vertex Pharmaceuticals in the second quarter worth about $29,000. Finally, Legacy Investment Solutions LLC bought a new stake in shares of Vertex Pharmaceuticals in the third quarter valued at approximately $33,000. Institutional investors own 90.96% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on VRTX shares. Citigroup assumed coverage on Vertex Pharmaceuticals in a research note on Thursday, November 14th. They set a "buy" rating and a $575.00 price objective on the stock. StockNews.com lowered Vertex Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Thursday, November 21st. Raymond James reissued a "market perform" rating on shares of Vertex Pharmaceuticals in a report on Thursday, October 10th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $480.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday, November 5th. Finally, Jefferies Financial Group upgraded Vertex Pharmaceuticals from a "hold" rating to a "buy" rating and increased their target price for the company from $500.00 to $550.00 in a report on Monday, December 9th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $506.20.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ:VRTX traded down $0.39 during midday trading on Friday, hitting $463.73. The company had a trading volume of 1,097,110 shares, compared to its average volume of 1,269,808. The company has a fifty day moving average of $473.50 and a two-hundred day moving average of $476.05. The company has a market cap of $119.42 billion, a price-to-earnings ratio of -233.03 and a beta of 0.36. 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 12-month low of $391.01 and a 12-month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its earnings results 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 analysts' expectations 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 quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the company posted $3.67 earnings per share. On average, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post -1.83 EPS for the current fiscal 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.