Bangor Savings Bank Sells 171 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Bangor Savings Bank lessened its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,553 shares of the pharmaceutical company’s stock after selling 171 shares during the quarter. Bangor Savings Bank’s holdings in Vertex Pharmaceuticals were worth $2,236,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Private Advisor Group LLC increased its holdings in shares of Vertex Pharmaceuticals by 3.0% in the second quarter. Private Advisor Group LLC now owns 8,221 shares of the pharmaceutical company’s stock worth $3,853,000 after purchasing an additional 243 shares during the last quarter. Savant Capital LLC raised its holdings in shares of Vertex Pharmaceuticals by 91.1% during the 2nd quarter. Savant Capital LLC now owns 6,561 shares of the pharmaceutical company’s stock worth $3,075,000 after acquiring an additional 3,127 shares in the last quarter. Advisor OS LLC boosted its position in shares of Vertex Pharmaceuticals by 10.3% during the 2nd quarter. Advisor OS LLC now owns 545 shares of the pharmaceutical company’s stock valued at $255,000 after acquiring an additional 51 shares during the last quarter. Cullen Frost Bankers Inc. boosted its position in shares of Vertex Pharmaceuticals by 18.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 979 shares of the pharmaceutical company’s stock valued at $459,000 after acquiring an additional 149 shares during the last quarter. Finally, Asset Dedication LLC increased its position in Vertex Pharmaceuticals by 98.0% in the second quarter. Asset Dedication LLC now owns 202 shares of the pharmaceutical company’s stock worth $95,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ:VRTX opened at $402.49 on Tuesday. 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 company has a market capitalization of $103.65 billion, a price-to-earnings ratio of -202.26 and a beta of 0.40. The firm has a 50 day moving average of $453.89 and a 200 day moving average of $469.70. Vertex Pharmaceuticals Incorporated has a 52 week low of $377.85 and a 52 week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share 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 company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter last year, the company earned $3.67 earnings per share. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on VRTX. Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday, December 20th. Jefferies Financial Group raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $500.00 to $550.00 in a research note on Monday, December 9th. Truist Financial dropped their target price on Vertex Pharmaceuticals from $550.00 to $460.00 and set a “buy” rating for the company in a report on Monday, December 23rd. Raymond James restated a “market perform” rating on shares of Vertex Pharmaceuticals in a report on Thursday, October 10th. Finally, Royal Bank of Canada lifted their price objective on shares of Vertex Pharmaceuticals from $437.00 to $451.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 5th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $494.04.

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.