Vertex Pharmaceuticals Incorporated $VRTX Stock Holdings Lessened by Traynor Capital Management Inc.

Traynor Capital Management Inc. trimmed its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 15.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,666 shares of the pharmaceutical company’s stock after selling 1,383 shares during the period. Traynor Capital Management Inc.’s holdings in Vertex Pharmaceuticals were worth $4,008,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. MADDEN SECURITIES Corp purchased a new stake in Vertex Pharmaceuticals in the 3rd quarter worth approximately $26,000. Meeder Asset Management Inc. bought a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter worth approximately $26,000. Community Financial Services Group LLC bought a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter worth approximately $26,000. Elevation Wealth Partners LLC increased its stake in shares of Vertex Pharmaceuticals by 103.7% during the second quarter. Elevation Wealth Partners LLC now owns 55 shares of the pharmaceutical company’s stock valued at $27,000 after buying an additional 28 shares during the period. Finally, Pingora Partners LLC purchased a new position in shares of Vertex Pharmaceuticals during the second quarter valued at approximately $32,000. 90.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on VRTX shares. Truist Financial raised their price target on Vertex Pharmaceuticals from $560.00 to $565.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Daiwa Securities Group boosted their price objective on shares of Vertex Pharmaceuticals from $555.00 to $556.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Rothschild & Co Redburn upped their price objective on shares of Vertex Pharmaceuticals from $570.00 to $580.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Royal Bank Of Canada raised their target price on shares of Vertex Pharmaceuticals from $570.00 to $576.00 and gave the stock an “outperform” rating in a research report on Thursday, October 8th. Finally, Wall Street Zen cut shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $579.81.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ:VRTX opened at $558.88 on Monday. The firm has a market capitalization of $141.84 billion, a P/E ratio of 32.53, a P/E/G ratio of 2.68 and a beta of 0.28. The stock has a 50 day moving average price of $523.21 and a 200-day moving average price of $479.47. Vertex Pharmaceuticals Incorporated has a 52-week low of $403.16 and a 52-week high of $563.80.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share for the quarter, missing the consensus estimate of $4.74 by ($0.01). The firm had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.23 billion. Vertex Pharmaceuticals had a net margin of 35.00% and a return on equity of 23.09%. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.52 earnings per share. On average, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 16.74 EPS for the current fiscal year.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated is a global biotechnology company focused on developing and commercializing medicines for serious diseases. Founded in 1989 and headquartered in Boston, Massachusetts, the company applies expertise in the science of human disease to discover therapies that address significant unmet medical needs.

Vertex is best known for its cystic fibrosis portfolio, which includes Kalydeco, Orkambi, Symdeko/Symkevi, and Trikafta/Kaftrio. These medicines target the underlying cause of cystic fibrosis for patients with specific mutations in the CFTR gene.