Cherry Creek Investment Advisors Inc. Has $1.28 Million Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Cherry Creek Investment Advisors Inc. reduced its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,179 shares of the pharmaceutical company’s stock after selling 143 shares during the quarter. Cherry Creek Investment Advisors Inc.’s holdings in Vertex Pharmaceuticals were worth $1,280,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in VRTX. Parsons Capital Management Inc. RI boosted its stake in Vertex Pharmaceuticals by 27.6% during the 4th quarter. Parsons Capital Management Inc. RI now owns 7,033 shares of the pharmaceutical company’s stock valued at $2,832,000 after purchasing an additional 1,521 shares during the last quarter. Heirloom Wealth Management boosted its position in shares of Vertex Pharmaceuticals by 6.7% during the fourth quarter. Heirloom Wealth Management now owns 18,793 shares of the pharmaceutical company’s stock valued at $7,568,000 after buying an additional 1,185 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Vertex Pharmaceuticals by 19.6% during the fourth quarter. Pacer Advisors Inc. now owns 38,800 shares of the pharmaceutical company’s stock valued at $15,625,000 after buying an additional 6,359 shares during the last quarter. United Asset Strategies Inc. raised its position in Vertex Pharmaceuticals by 5.2% in the 4th quarter. United Asset Strategies Inc. now owns 3,951 shares of the pharmaceutical company’s stock valued at $1,591,000 after buying an additional 196 shares during the last quarter. Finally, Atticus Wealth Management LLC lifted its stake in Vertex Pharmaceuticals by 833.3% during the 4th quarter. Atticus Wealth Management LLC now owns 140 shares of the pharmaceutical company’s stock valued at $56,000 after acquiring an additional 125 shares in the last quarter. 90.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on VRTX shares. Bank of America lowered their target price on shares of Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday, December 20th. Truist Financial reduced their target price on Vertex Pharmaceuticals from $550.00 to $460.00 and set a “buy” rating for the company in a report on Monday, December 23rd. Stifel Nicolaus lifted their price target on Vertex Pharmaceuticals from $490.00 to $494.00 and gave the stock a “hold” rating in a report on Monday, December 16th. Finally, Royal Bank of Canada upped their price objective on Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $494.76.

Vertex Pharmaceuticals Trading Up 1.0 %

Shares of Vertex Pharmaceuticals stock opened at $443.88 on Tuesday. The company has a 50 day simple moving average of $435.36 and a two-hundred day simple moving average of $464.32. The firm has a market cap of $114.31 billion, a PE ratio of -223.06, a PEG ratio of 2.20 and a beta of 0.40. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88. 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 released its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, beating analysts’ consensus estimates of $3.61 by $0.77. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The business had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.69 billion. During the same quarter in the prior year, the firm earned $3.67 earnings per share. The firm’s revenue was up 11.6% on a year-over-year basis. Analysts expect that Vertex Pharmaceuticals Incorporated will post -1.9 earnings per share for the current fiscal year.

Vertex Pharmaceuticals 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.