Burney Co. Sells 8,394 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Burney Co. cut its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 18.2% in the 4th quarter, HoldingsChannel reports. The firm owned 37,767 shares of the pharmaceutical company’s stock after selling 8,394 shares during the period. Burney Co.’s holdings in Vertex Pharmaceuticals were worth $15,209,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Northwest Investment Counselors LLC bought a new position in Vertex Pharmaceuticals in the third quarter valued at $25,000. Highline Wealth Partners LLC purchased a new stake in Vertex Pharmaceuticals in the third quarter worth approximately $27,000. Dunhill Financial LLC raised its stake in shares of Vertex Pharmaceuticals by 70.6% during the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after acquiring an additional 24 shares in the last quarter. Legacy Investment Solutions LLC bought a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter worth approximately $33,000. Finally, Truvestments Capital LLC bought a new position in shares of Vertex Pharmaceuticals during the 3rd quarter valued at $35,000. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX opened at $418.38 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47. The stock’s fifty day moving average is $445.93 and its 200 day moving average is $467.13. The firm has a market capitalization of $107.74 billion, a PE ratio of -210.24 and a beta of 0.40. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, beating the consensus estimate of $3.61 by $0.77. The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate 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 was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.67 EPS. On average, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on VRTX. Royal Bank of Canada boosted their price target 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. Citigroup assumed coverage on Vertex Pharmaceuticals in a report on Thursday, November 14th. They set a “buy” rating and a $575.00 target price on the stock. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, December 20th. Morgan Stanley increased their price objective on Vertex Pharmaceuticals from $473.00 to $476.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $480.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday, November 5th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $490.38.

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.