Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Paces Ferry Wealth Advisors LLC

Paces Ferry Wealth Advisors LLC lessened its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,236 shares of the pharmaceutical company’s stock after selling 58 shares during the quarter. Paces Ferry Wealth Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $498,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dunhill Financial LLC increased its position in shares of Vertex Pharmaceuticals by 70.6% during the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing 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. Legacy Investment Solutions LLC bought a new stake in Vertex Pharmaceuticals in the third quarter worth about $33,000. Truvestments Capital LLC bought a new stake in Vertex Pharmaceuticals in the third quarter worth about $35,000. Finally, Sugar Maple Asset Management LLC acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter worth approximately $35,000. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Down 1.4 %

Shares of Vertex Pharmaceuticals stock opened at $503.20 on Friday. The firm has a market cap of $129.22 billion, a price-to-earnings ratio of -228.73, a P/E/G ratio of 2.11 and a beta of 0.41. The stock has a 50-day simple moving average of $467.89 and a 200-day simple moving average of $462.60. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. On average, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Royal Bank of Canada boosted their target price on shares of Vertex Pharmaceuticals from $407.00 to $408.00 and gave the stock a “sector perform” rating in a report on Thursday, February 20th. Stifel Nicolaus increased their price objective on Vertex Pharmaceuticals from $490.00 to $494.00 and gave the company a “hold” rating in a research report on Monday, December 16th. HC Wainwright reaffirmed a “buy” rating and set a $550.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Bank of America decreased their price target on Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Finally, BMO Capital Markets set a $545.00 price target on Vertex Pharmaceuticals in a research note on Friday, January 31st. Ten equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $506.70.

Insider Buying and Selling

In related news, EVP David Altshuler sold 3,231 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $500.00, for a total value of $1,615,500.00. Following the transaction, the executive vice president now directly owns 26,512 shares in the company, valued at approximately $13,256,000. This trade represents a 10.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Ourania Tatsis sold 244 shares of Vertex Pharmaceuticals stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total transaction of $111,034.64. Following the completion of the transaction, the executive vice president now owns 67,695 shares in the company, valued at $30,805,286.70. This trade represents a 0.36 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,315 shares of company stock worth $2,121,012. Corporate insiders own 0.20% of the company’s stock.

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.