Cabot Wealth Management Inc. Sells 969 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Cabot Wealth Management Inc. lowered its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 51.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 930 shares of the pharmaceutical company’s stock after selling 969 shares during the quarter. Cabot Wealth Management Inc.’s holdings in Vertex Pharmaceuticals were worth $486,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of VRTX. BlackRock Inc. acquired a new stake in Vertex Pharmaceuticals in the 2nd quarter worth approximately $11,975,849,000. Bank of America Corp DE purchased a new stake in Vertex Pharmaceuticals during the 2nd quarter worth approximately $1,509,651,000. Legal & General Group Plc purchased a new stake in Vertex Pharmaceuticals during the 2nd quarter worth approximately $928,893,000. Bank of New York Mellon Corp acquired a new position in Vertex Pharmaceuticals during the 2nd quarter valued at approximately $830,842,000. Finally, Deutsche Bank AG acquired a new position in Vertex Pharmaceuticals during the 2nd quarter valued at approximately $784,391,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $547.03 on Thursday. Vertex Pharmaceuticals Incorporated has a 52 week low of $412.27 and a 52 week high of $568.67. The business’s 50 day moving average price is $523.04 and its 200 day moving average price is $483.19. The company has a quick ratio of 1.89, a current ratio of 2.34 and a debt-to-equity ratio of 0.17. The firm has a market cap of $138.69 billion, a P/E ratio of 35.20, a P/E/G ratio of 2.90 and a beta of 0.28.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, November 2nd. The pharmaceutical company reported $4.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.82 by ($0.06). Vertex Pharmaceuticals had a return on equity of 21.98% and a net margin of 30.70%. The business had revenue of $3.44 billion for the quarter, compared to analysts’ expectations of $3.42 billion. During the same period in the prior year, the business posted $4.80 earnings per share. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 16.10 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on VRTX shares. Leerink Partners started coverage on shares of Vertex Pharmaceuticals in a report on Monday, September 21st. They issued an “outperform” rating and a $594.00 price target for the company. Rothschild & Co Redburn boosted their price objective on shares of Vertex Pharmaceuticals from $570.00 to $580.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. TD Cowen boosted their price objective on shares of Vertex Pharmaceuticals from $550.00 to $575.00 and gave the company a “buy” rating in a report on Tuesday, November 3rd. The Goldman Sachs Group upped their target price on Vertex Pharmaceuticals from $654.00 to $725.00 and gave the company a “buy” rating in a research report on Tuesday, November 3rd. Finally, Sanford C. Bernstein upgraded Vertex Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $596.44.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals is a biotechnology company headquartered in Boston, Massachusetts. Founded in 1989, it develops medicines for serious diseases, with a long-standing focus on cystic fibrosis (CF). Vertex’s CF treatments include medicines that target the underlying protein defect, such as Trikafta/Kaftrio, Alyftrek, Kalydeco, Orkambi and Symdeko/Symkevi. The company also markets Journavx, a non-opioid medicine for acute pain, and partnered with CRISPR Therapeutics to develop Casgevy, a gene-editing treatment for sickle cell disease and transfusion-dependent beta thalassemia.