M&T Bank Corp Lowers Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

M&T Bank Corp trimmed its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 5.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 18,867 shares of the pharmaceutical company’s stock after selling 1,074 shares during the period. M&T Bank Corp’s holdings in Vertex Pharmaceuticals were worth $8,775,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mutual Advisors LLC grew its holdings in shares of Vertex Pharmaceuticals by 0.6% during the third quarter. Mutual Advisors LLC now owns 3,710 shares of the pharmaceutical company’s stock valued at $1,751,000 after buying an additional 21 shares during the last quarter. Drive Wealth Management LLC boosted its stake in Vertex Pharmaceuticals by 2.0% during the 2nd quarter. Drive Wealth Management LLC now owns 1,101 shares of the pharmaceutical company’s stock valued at $516,000 after purchasing an additional 22 shares during the last quarter. Daymark Wealth Partners LLC increased its holdings in shares of Vertex Pharmaceuticals by 2.8% in the 3rd quarter. Daymark Wealth Partners LLC now owns 804 shares of the pharmaceutical company’s stock worth $374,000 after purchasing an additional 22 shares in the last quarter. Grove Bank & Trust increased its holdings in shares of Vertex Pharmaceuticals by 5.7% in the 3rd quarter. Grove Bank & Trust now owns 410 shares of the pharmaceutical company’s stock worth $191,000 after purchasing an additional 22 shares in the last quarter. Finally, One Wealth Management Investment & Advisory Services LLC raised its stake in shares of Vertex Pharmaceuticals by 3.3% in the second quarter. One Wealth Management Investment & Advisory Services LLC now owns 747 shares of the pharmaceutical company’s stock worth $350,000 after purchasing an additional 24 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on VRTX. StockNews.com downgraded Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 21st. HC Wainwright reduced their price target on shares of Vertex Pharmaceuticals from $600.00 to $535.00 and set a “buy” rating for the company in a research note on Friday. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday. Morgan Stanley boosted their target price on shares of Vertex Pharmaceuticals from $473.00 to $476.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Finally, Oppenheimer downgraded Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $499.77.

Vertex Pharmaceuticals Stock Up 0.2 %

NASDAQ VRTX opened at $397.27 on Monday. Vertex Pharmaceuticals Incorporated has a 12 month low of $377.85 and a 12 month high of $519.88. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01. The stock has a market cap of $102.31 billion, a PE ratio of -199.63 and a beta of 0.36. The stock’s 50 day moving average is $470.41 and its 200 day moving average is $475.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, topping the consensus estimate of $3.61 by $0.77. The firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.69 billion. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.67 earnings per share. Research analysts predict that Vertex Pharmaceuticals Incorporated will post -1.83 EPS 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.