First Citizens Bank & Trust Co. Trims Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

First Citizens Bank & Trust Co. cut its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 81.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,836 shares of the pharmaceutical company’s stock after selling 21,153 shares during the period. First Citizens Bank & Trust Co.’s holdings in Vertex Pharmaceuticals were worth $1,947,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Mutual Advisors LLC raised its stake in shares of Vertex Pharmaceuticals by 0.6% in the 3rd quarter. Mutual Advisors LLC now owns 3,710 shares of the pharmaceutical company’s stock valued at $1,751,000 after acquiring an additional 21 shares during the period. Daymark Wealth Partners LLC raised its stake in shares of Vertex Pharmaceuticals by 2.8% in the 3rd quarter. Daymark Wealth Partners LLC now owns 804 shares of the pharmaceutical company’s stock valued at $374,000 after acquiring an additional 22 shares during the period. Grove Bank & Trust raised its stake in shares of Vertex Pharmaceuticals by 5.7% in the 3rd quarter. Grove Bank & Trust now owns 410 shares of the pharmaceutical company’s stock valued at $191,000 after acquiring an additional 22 shares during the period. Outlook Wealth Advisors LLC raised its stake in shares of Vertex Pharmaceuticals by 2.8% in the 3rd quarter. Outlook Wealth Advisors LLC now owns 892 shares of the pharmaceutical company’s stock valued at $415,000 after acquiring an additional 24 shares during the period. Finally, Dunhill Financial LLC raised its stake 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 valued at $27,000 after acquiring an additional 24 shares during the period. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Stock Performance

Vertex Pharmaceuticals stock opened at $439.62 on Monday. The company has a fifty day moving average price of $435.36 and a two-hundred day moving average price of $464.51. 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 12 month low of $377.85 and a 12 month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $2.69 billion. During the same quarter in the previous year, the company posted $3.67 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

VRTX has been the topic of a number of research analyst reports. 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 note on Thursday, December 19th. BMO Capital Markets dropped their price objective on shares of Vertex Pharmaceuticals from $566.00 to $520.00 and set an “outperform” rating for the company in a report on Friday, December 20th. Jefferies Financial Group upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and lifted their price objective for the company from $500.00 to $550.00 in a report on Monday, December 9th. Raymond James restated a “market perform” rating on shares of Vertex Pharmaceuticals in a report on Thursday, October 10th. Finally, Oppenheimer cut shares of Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $494.84.

Vertex Pharmaceuticals Company 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.