Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury reduced its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 7.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,189 shares of the pharmaceutical company’s stock after selling 7,333 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Vertex Pharmaceuticals were worth $37,527,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. ABC Arbitrage SA bought a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth $1,510,000. Czech National Bank increased its stake in Vertex Pharmaceuticals by 6.2% in the 4th quarter. Czech National Bank now owns 55,838 shares of the pharmaceutical company’s stock worth $22,486,000 after purchasing an additional 3,260 shares in the last quarter. Highview Capital Management LLC DE lifted its stake in Vertex Pharmaceuticals by 1.8% during the fourth quarter. Highview Capital Management LLC DE now owns 5,771 shares of the pharmaceutical company’s stock valued at $2,324,000 after buying an additional 102 shares in the last quarter. Davidson Investment Advisors boosted its holdings in shares of Vertex Pharmaceuticals by 26.0% in the fourth quarter. Davidson Investment Advisors now owns 61,161 shares of the pharmaceutical company’s stock worth $24,630,000 after buying an additional 12,631 shares during the period. Finally, Jones Financial Companies Lllp increased its position in shares of Vertex Pharmaceuticals by 75.5% in the fourth quarter. Jones Financial Companies Lllp now owns 2,468 shares of the pharmaceutical company’s stock worth $994,000 after acquiring an additional 1,062 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

VRTX has been the subject of several research analyst reports. HC Wainwright restated a “buy” rating and issued a $550.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Morgan Stanley increased their target price on Vertex Pharmaceuticals from $450.00 to $459.00 and gave the company an “equal weight” rating in a report on Tuesday, February 11th. JPMorgan Chase & Co. lowered their price target on Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. Cantor Fitzgerald reissued an “overweight” rating and set a $480.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Finally, Barclays raised their price objective on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 11th. Ten equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $512.41.

Insider Transactions at Vertex Pharmaceuticals

In other news, EVP David Altshuler sold 3,231 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the completion of the transaction, the executive vice president now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ourania Tatsis sold 244 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total value of $111,034.64. Following the completion of the transaction, the executive vice president now directly owns 67,695 shares of the company’s stock, valued at approximately $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 ninety days, insiders have sold 4,315 shares of company stock worth $2,121,012. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Down 2.4 %

VRTX opened at $477.52 on Tuesday. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69. The business has a 50 day moving average price of $487.25 and a 200 day moving average price of $465.46. The firm has a market cap of $122.62 billion, a P/E ratio of -217.05, a price-to-earnings-growth ratio of 2.11 and a beta of 0.50.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted 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 return on equity of 2.02% and a negative net margin of 4.86%. Research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Vertex Pharmaceuticals Company 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.