TD Asset Management Inc. Lowers Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

TD Asset Management Inc. reduced its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 10.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 469,068 shares of the pharmaceutical company’s stock after selling 53,137 shares during the quarter. TD Asset Management Inc. owned about 0.18% of Vertex Pharmaceuticals worth $188,894,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in VRTX. Dunhill Financial LLC grew its stake 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. purchased a new stake in Vertex Pharmaceuticals during the 4th quarter worth $30,000. Legacy Investment Solutions LLC acquired a new stake in Vertex Pharmaceuticals in the 3rd quarter valued at $33,000. Truvestments Capital LLC purchased a new position in Vertex Pharmaceuticals in the third quarter valued at about $35,000. Finally, Sugar Maple Asset Management LLC acquired a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth about $35,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Down 0.5 %

NASDAQ:VRTX opened at $509.04 on Wednesday. Vertex Pharmaceuticals Incorporated has a 12-month low of $377.85 and a 12-month 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. The business has a 50 day simple moving average of $471.81 and a 200 day simple moving average of $463.08. The firm has a market capitalization of $130.72 billion, a P/E ratio of -231.38, a P/E/G ratio of 2.11 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results 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 4.86% and a negative return on equity of 2.02%. Equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analysts Set New Price Targets

VRTX has been the subject of a number of recent research reports. JPMorgan Chase & Co. dropped their target price on Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. HC Wainwright reiterated a “buy” rating and set a $550.00 price objective on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Morgan Stanley upped their target price on shares of Vertex Pharmaceuticals from $450.00 to $459.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. Wells Fargo & Company downgraded shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 price target on the stock. in a research note on Thursday, January 30th. Finally, StockNews.com raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, March 11th. Ten analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $506.70.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 310 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $459.83, for a total transaction of $142,547.30. Following the transaction, the executive vice president now owns 64,021 shares of the company’s stock, valued at approximately $29,438,776.43. This trade represents a 0.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David Altshuler sold 3,231 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the completion of the sale, the executive vice president now directly owns 26,512 shares of the company’s stock, valued at approximately $13,256,000. This represents a 10.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,315 shares of company stock worth $2,121,012. 0.20% of the stock is owned by company insiders.

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.