Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Holdings Cut by Retirement Systems of Alabama

Retirement Systems of Alabama cut its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 6.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 222,705 shares of the pharmaceutical company’s stock after selling 16,516 shares during the quarter. Retirement Systems of Alabama’s holdings in Vertex Pharmaceuticals were worth $103,576,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Northwest Investment Counselors LLC bought a new position in Vertex Pharmaceuticals during the 3rd quarter worth $25,000. Highline Wealth Partners LLC bought a new position in shares of Vertex Pharmaceuticals during the third quarter worth about $27,000. Dunhill Financial LLC increased its holdings in shares of Vertex Pharmaceuticals by 70.6% in the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after acquiring an additional 24 shares during the period. GHP Investment Advisors Inc. bought a new stake in Vertex Pharmaceuticals in the 2nd quarter valued at about $29,000. Finally, Stephens Consulting LLC acquired a new position in Vertex Pharmaceuticals during the 2nd quarter valued at about $31,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Down 0.5 %

Shares of NASDAQ VRTX opened at $461.93 on Friday. Vertex Pharmaceuticals Incorporated has a 12-month low of $391.01 and a 12-month high of $519.88. The company has a market cap of $118.96 billion, a price-to-earnings ratio of -233.23 and a beta of 0.36. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. The firm’s 50-day simple moving average is $473.33 and its 200 day simple moving average is $475.80.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, topping the consensus estimate 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 company had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.69 billion. During the same quarter in the previous year, the company earned $3.67 EPS. Vertex Pharmaceuticals’s revenue was up 11.6% on a year-over-year basis. On average, research analysts expect that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on VRTX. JPMorgan Chase & Co. lowered their target price on shares of Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. UBS Group increased their target price on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. StockNews.com lowered shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 21st. Cantor Fitzgerald reiterated an “overweight” rating and set a $480.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, November 5th. Finally, Oppenheimer decreased their target price on Vertex Pharmaceuticals from $550.00 to $540.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Three equities research 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 stock. According to MarketBeat.com, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $506.20.

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.