Eqis Capital Management Lowers stake in Vertex Pharmaceuticals Incorporated (VRTX)

Vertex Pharmaceuticals Incorporated (VRTX) : Eqis Capital Management reduced its stake in Vertex Pharmaceuticals Incorporated by 15.16% during the most recent quarter end. The investment management company now holds a total of 20,517 shares of Vertex Pharmaceuticals Incorporated which is valued at $1,798,315 after selling 3,665 shares in Vertex Pharmaceuticals Incorporated , the firm said in a disclosure report filed with the SEC on Oct 4, 2016.Vertex Pharmaceuticals Incorporated makes up approximately 0.11% of Eqis Capital Management’s portfolio.

Other Hedge Funds, Including , Washington Trust Bank reduced its stake in VRTX by selling 28 shares or 43.75% in the most recent quarter. The Hedge Fund company now holds 36 shares of VRTX which is valued at $3,155.

Vertex Pharmaceuticals Incorporated closed down -0.37 points or -0.43% at $86.42 with 10,81,122 shares getting traded on Tuesday. Post opening the session at $86.94, the shares hit an intraday low of $85.75 and an intraday high of $87.25 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Vertex Pharmaceuticals Incorporated reported $0.24 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.20. The company had revenue of $431.61 million for the quarter, compared to analysts expectations of $429.58 million. The company’s revenue was up 159.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.54 EPS.

Many Wall Street Analysts have commented on Vertex Pharmaceuticals Incorporated. Company shares were Reiterated by Stifel on Sep 15, 2016 to “Buy”, Firm has raised the Price Target to $ 109 from a previous price target of $105 .Vertex Pharmaceuticals Incorporated was Initiated by Raymond James to “Mkt Perform” on Sep 13, 2016. Shares were Reiterated by Stifel on Aug 16, 2016 to “Buy” and Lowered the Price Target to $ 105 from a previous price target of $108 .

Vertex Pharmaceuticals Incorporated (Vertex) is a global biotechnology company. The Company is engaged in the business of discovering developing manufacturing and commercializing small molecule drugs. The Company uses precision medicine approaches to create transformative drugs for patients with serious diseases in specialty markets. Vertex’s business is focused on developing and commercializing therapies for the treatment of cystic fibrosis (CF). It is also engaged in other research and early-stage development programs including programs in the areas of oncology and neurology. The Company’s product candidates include KALYDECO (ivacaftor) Lumacaftor in combination with Ivacaftor VX-661 in combination with Ivacaftor VX-803 VX-970 and VX-222. The Company’s product KALYDECO is available in the market.

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