Kestra Private Wealth Services LLC Reduces Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Kestra Private Wealth Services LLC trimmed its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 45.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 7,036 shares of the pharmaceutical company’s stock after selling 5,825 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Vertex Pharmaceuticals were worth $2,833,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Northwest Investment Counselors LLC purchased a new position in shares of Vertex Pharmaceuticals in the third quarter worth $25,000. Highline Wealth Partners LLC bought a new stake in Vertex Pharmaceuticals in the 3rd quarter worth $27,000. Dunhill Financial LLC increased its position in shares of Vertex Pharmaceuticals by 70.6% in the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after acquiring an additional 24 shares during the period. Brown Lisle Cummings Inc. purchased a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth about $30,000. Finally, Legacy Investment Solutions LLC bought a new stake in shares of Vertex Pharmaceuticals in the third quarter worth about $33,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

VRTX has been the subject of a number of recent analyst reports. Piper Sandler lowered their price target on Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. Jefferies Financial Group upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and upped their target price for the company from $500.00 to $550.00 in a report on Monday, December 9th. BMO Capital Markets reduced their price objective on shares of Vertex Pharmaceuticals from $566.00 to $520.00 and set an “outperform” rating on the stock in a research report on Friday, December 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday. Finally, Bank of America reduced their price target on shares of Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Ten research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $505.29.

Vertex Pharmaceuticals Price Performance

VRTX opened at $455.22 on Wednesday. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88. The stock has a 50-day moving average price of $435.95 and a 200-day moving average price of $462.13. The firm has a market cap of $117.23 billion, a PE ratio of -228.75, a P/E/G ratio of 1.80 and a beta of 0.41. 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 (NASDAQ:VRTX) last issued its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. Sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post -1.94 earnings per share 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.