Franklin Resources Inc. Lowers Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Franklin Resources Inc. cut its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 13.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 476,833 shares of the pharmaceutical company’s stock after selling 75,581 shares during the quarter. Franklin Resources Inc. owned 0.19% of Vertex Pharmaceuticals worth $231,178,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC acquired a new stake in shares of Vertex Pharmaceuticals in the third quarter valued at $25,000. Highline Wealth Partners LLC purchased a new position in shares of Vertex Pharmaceuticals in the 3rd quarter valued at about $27,000. Dunhill Financial LLC grew its position in shares of Vertex Pharmaceuticals by 70.6% during the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after buying an additional 24 shares in the last quarter. GHP Investment Advisors Inc. purchased a new stake in shares of Vertex Pharmaceuticals during the second quarter worth approximately $29,000. Finally, Stephens Consulting LLC acquired a new stake in Vertex Pharmaceuticals in the second quarter valued at approximately $31,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX opened at $463.73 on Friday. Vertex Pharmaceuticals Incorporated has a 1 year low of $391.01 and a 1 year high of $519.88. The stock has a market capitalization of $119.42 billion, a P/E ratio of -233.03 and a beta of 0.36. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47. The company’s fifty day moving average is $473.50 and its two-hundred day moving average is $476.05.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.69 billion. During the same period in the prior year, the company posted $3.67 earnings per share. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on VRTX shares. Royal Bank of Canada increased their price objective on shares of Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 5th. Scotiabank raised their price target on Vertex Pharmaceuticals from $480.00 to $486.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 5th. StockNews.com cut Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 21st. JPMorgan Chase & Co. cut their target price on Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $600.00 price target on shares of Vertex Pharmaceuticals in a report on Monday, October 21st. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $506.20.

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.