Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Holdings Reduced by Martingale Asset Management L P

Martingale Asset Management L P decreased its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 14.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Hantz Financial Services Inc. grew its holdings in shares of Vertex Pharmaceuticals by 2.0% in the 3rd quarter. Hantz Financial Services Inc. now owns 3,544 shares of the pharmaceutical company's stock worth $1,648,000 after acquiring an additional 69 shares during the period. Northwest & Ethical Investments L.P. grew its holdings in Vertex Pharmaceuticals by 10.8% in the third quarter. Northwest & Ethical Investments L.P. now owns 26,640 shares of the pharmaceutical company's stock valued at $12,390,000 after purchasing an additional 2,596 shares during the last quarter. Public Sector Pension Investment Board increased its position in shares of Vertex Pharmaceuticals by 14.2% in the third quarter. Public Sector Pension Investment Board now owns 11,244 shares of the pharmaceutical company's stock valued at $5,229,000 after buying an additional 1,400 shares in the last quarter. Fiduciary Trust Co raised its stake in shares of Vertex Pharmaceuticals by 22.2% during the 3rd quarter. Fiduciary Trust Co now owns 12,013 shares of the pharmaceutical company's stock worth $5,587,000 after buying an additional 2,183 shares during the last quarter. Finally, FORA Capital LLC boosted its position in shares of Vertex Pharmaceuticals by 15.0% in the 3rd quarter. FORA Capital LLC now owns 9,402 shares of the pharmaceutical company's stock worth $4,373,000 after buying an additional 1,229 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Up 0.8 %

Shares of VRTX traded up $3.57 during midday trading on Friday, hitting $468.13. The company had a trading volume of 770,093 shares, compared to its average volume of 1,189,912. 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 Incorporated has a 52 week low of $347.51 and a 52 week high of $519.88. The company's 50 day moving average price is $472.81 and its 200 day moving average price is $474.22. The stock has a market cap of $120.56 billion, a price-to-earnings ratio of -233.45 and a beta of 0.39.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released 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 firm 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%. The firm'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 firm earned $3.67 earnings per share. On average, equities research analysts predict that Vertex Pharmaceuticals Incorporated will post -1.83 EPS for the current year.

Wall Street Analyst Weigh In

VRTX has been the subject of a number of research reports. Truist Financial restated a "buy" rating and set a $550.00 target price (up previously from $508.00) on shares of Vertex Pharmaceuticals in a research report on Monday, August 5th. Canaccord Genuity Group lifted their price objective on Vertex Pharmaceuticals from $361.00 to $408.00 and gave the stock a "sell" rating in a research report on Wednesday, November 6th. UBS Group increased their target price on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Oppenheimer cut their price target on Vertex Pharmaceuticals from $550.00 to $540.00 and set an "outperform" rating for the company in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. decreased their price objective on Vertex Pharmaceuticals from $510.00 to $503.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 5th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus target price of $504.38.

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.