Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Mcrae Capital Management Inc.

Mcrae Capital Management Inc. reduced its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.5% during the 4th quarter, HoldingsChannel reports. The fund owned 31,078 shares of the pharmaceutical company’s stock after selling 802 shares during the period. Vertex Pharmaceuticals accounts for 2.5% of Mcrae Capital Management Inc.’s portfolio, making the stock its 19th largest position. Mcrae Capital Management Inc.’s holdings in Vertex Pharmaceuticals were worth $12,515,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of VRTX. Creative Planning raised its stake in Vertex Pharmaceuticals by 1.7% during the third quarter. Creative Planning now owns 80,467 shares of the pharmaceutical company’s stock worth $37,424,000 after purchasing an additional 1,350 shares during the period. NBC Securities Inc. increased its holdings in shares of Vertex Pharmaceuticals by 34.5% during the 3rd quarter. NBC Securities Inc. now owns 160 shares of the pharmaceutical company’s stock worth $74,000 after buying an additional 41 shares during the last quarter. Wolff Wiese Magana LLC boosted its holdings in Vertex Pharmaceuticals by 254.5% in the third quarter. Wolff Wiese Magana LLC now owns 156 shares of the pharmaceutical company’s stock valued at $73,000 after acquiring an additional 112 shares during the last quarter. Good Life Advisors LLC acquired a new stake in Vertex Pharmaceuticals during the third quarter worth about $222,000. Finally, Teamwork Financial Advisors LLC increased its stake in Vertex Pharmaceuticals by 1,588.1% during the third quarter. Teamwork Financial Advisors LLC now owns 10,095 shares of the pharmaceutical company’s stock worth $4,695,000 after acquiring an additional 9,497 shares during the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Performance

Shares of Vertex Pharmaceuticals stock opened at $462.58 on Friday. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88. The firm’s 50-day simple moving average is $435.70 and its 200-day simple moving average is $461.79. 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 announced its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. Equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.94 earnings per share for the current year.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 310 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $459.83, for a total transaction of $142,547.30. Following the sale, the executive vice president now directly owns 64,021 shares of the company’s stock, valued at approximately $29,438,776.43. This represents a 0.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Morgan Stanley boosted their target price on Vertex Pharmaceuticals from $450.00 to $459.00 and gave the stock an “equal weight” rating in a report on Tuesday. Royal Bank of Canada boosted their price objective on shares of Vertex Pharmaceuticals from $402.00 to $407.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Canaccord Genuity Group raised shares of Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and raised their target price for the company from $408.00 to $424.00 in a research note on Tuesday. Wells Fargo & Company lowered shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 target price on the stock. in a report on Thursday, January 30th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $480.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday. Ten equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $505.96.

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.