Miracle Mile Advisors LLC Sells 33 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Miracle Mile Advisors LLC trimmed its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,783 shares of the pharmaceutical company’s stock after selling 33 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $2,329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. GHP Investment Advisors Inc. bought a new position in shares of Vertex Pharmaceuticals during the 2nd quarter worth approximately $29,000. HBK Sorce Advisory LLC bought a new position in Vertex Pharmaceuticals during the second quarter worth $240,000. Envestnet Asset Management Inc. grew its holdings in Vertex Pharmaceuticals by 2.9% in the second quarter. Envestnet Asset Management Inc. now owns 415,060 shares of the pharmaceutical company’s stock worth $194,547,000 after purchasing an additional 11,751 shares during the period. J.W. Cole Advisors Inc. increased its stake in Vertex Pharmaceuticals by 8.1% in the second quarter. J.W. Cole Advisors Inc. now owns 845 shares of the pharmaceutical company’s stock valued at $396,000 after purchasing an additional 63 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its holdings in shares of Vertex Pharmaceuticals by 4.3% during the second quarter. Brown Brothers Harriman & Co. now owns 2,504 shares of the pharmaceutical company’s stock valued at $1,174,000 after purchasing an additional 104 shares during the period. Institutional investors own 90.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. 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 research note on Monday, December 23rd. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, December 20th. Canaccord Genuity Group increased their target price on Vertex Pharmaceuticals from $361.00 to $408.00 and gave the stock a “sell” rating in a report on Wednesday, November 6th. Stifel Nicolaus boosted their price target on shares of Vertex Pharmaceuticals from $490.00 to $494.00 and gave the company a “hold” rating in a research note on Monday, December 16th. Finally, HC Wainwright dropped their price objective on shares of Vertex Pharmaceuticals from $600.00 to $535.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $490.38.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock opened at $413.37 on Tuesday. Vertex Pharmaceuticals Incorporated has a 52 week low of $377.85 and a 52 week high of $519.88. The firm’s 50-day simple moving average is $447.69 and its two-hundred day simple moving average is $467.53. The firm has a market cap of $106.45 billion, a price-to-earnings ratio of -207.72 and a beta of 0.40. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $2.69 billion. During the same quarter in the previous year, the firm posted $3.67 EPS. Vertex Pharmaceuticals’s revenue was up 11.6% on a year-over-year basis. As a group, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share for the current 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.