Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Kessler Investment Group LLC

Kessler Investment Group LLC trimmed its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 90.0% during the fourth quarter, HoldingsChannel reports. The fund owned 1,373 shares of the pharmaceutical company’s stock after selling 12,397 shares during the quarter. Kessler Investment Group LLC’s holdings in Vertex Pharmaceuticals were worth $553,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new position in shares of Vertex Pharmaceuticals during the third quarter worth about $25,000. Highline Wealth Partners LLC acquired a new position in Vertex Pharmaceuticals during the third quarter worth about $27,000. Dunhill Financial LLC grew its position in 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 during the period. Brown Lisle Cummings Inc. acquired a new position in Vertex Pharmaceuticals during the fourth quarter worth about $30,000. Finally, Legacy Investment Solutions LLC acquired a new position in Vertex Pharmaceuticals during the third quarter worth about $33,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other 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 value of $142,547.30. Following the completion of the sale, the executive vice president now owns 64,021 shares of the company’s stock, valued at $29,438,776.43. This represents a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

VRTX has been the topic of several recent analyst reports. UBS Group upped their target price on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. BMO Capital Markets lowered their target price on shares of Vertex Pharmaceuticals from $566.00 to $520.00 and set an “outperform” rating on the stock in a research report on Friday, December 20th. Scotiabank upped their target price on shares of Vertex Pharmaceuticals from $433.00 to $450.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Citigroup started coverage on shares of Vertex Pharmaceuticals in a report on Thursday, November 14th. They issued a “buy” rating and a $575.00 price target on the stock. Finally, Bank of America reduced their price target on shares of Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Ten equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $505.96.

Vertex Pharmaceuticals Trading Down 0.8 %

NASDAQ:VRTX opened at $459.00 on Friday. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The firm’s 50 day moving average is $435.75 and its two-hundred day moving average is $461.80.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. On average, equities research analysts predict that Vertex Pharmaceuticals Incorporated will post -1.94 earnings per share 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.