Atle Fund Management AB Sells 6,562 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Atle Fund Management AB trimmed its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 27.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,766 shares of the pharmaceutical company’s stock after selling 6,562 shares during the period. Vertex Pharmaceuticals accounts for 2.7% of Atle Fund Management AB’s portfolio, making the stock its 15th largest holding. Atle Fund Management AB’s holdings in Vertex Pharmaceuticals were worth $6,958,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Brighton Jones LLC increased its holdings in shares of Vertex Pharmaceuticals by 15.0% in the fourth quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company’s stock worth $1,783,000 after purchasing an additional 579 shares during the last quarter. Hilltop National Bank purchased a new position in Vertex Pharmaceuticals during the 2nd quarter valued at approximately $121,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in Vertex Pharmaceuticals by 11.7% in the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,052 shares of the pharmaceutical company’s stock worth $914,000 after acquiring an additional 215 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter worth approximately $134,000. Finally, Stock Yards Bank & Trust Co. boosted its position in shares of Vertex Pharmaceuticals by 57.4% during the 2nd quarter. Stock Yards Bank & Trust Co. now owns 809 shares of the pharmaceutical company’s stock valued at $360,000 after acquiring an additional 295 shares during the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Jeffrey M. Leiden sold 63,781 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $449.20, for a total transaction of $28,650,425.20. Following the completion of the sale, the chairman owned 24,026 shares in the company, valued at $10,792,479.20. This trade represents a 72.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Ourania Tatsis sold 4,500 shares of the company’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $474.99, for a total transaction of $2,137,455.00. Following the completion of the transaction, the executive vice president owned 42,293 shares in the company, valued at $20,088,752.07. This represents a 9.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 165,105 shares of company stock valued at $73,858,523 in the last 90 days. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

VRTX opened at $469.90 on Friday. The stock’s 50 day moving average price is $453.77 and its 200-day moving average price is $427.28. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $519.68. The stock has a market cap of $119.22 billion, a price-to-earnings ratio of 33.14 and a beta of 0.31.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.58 by $0.22. Vertex Pharmaceuticals had a return on equity of 23.51% and a net margin of 31.35%.The company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same quarter in the previous year, the business earned $4.38 EPS. Vertex Pharmaceuticals’s revenue was up 11.0% compared to the same quarter last year. As a group, analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Barclays raised shares of Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $414.00 to $606.00 in a research note on Tuesday. Evercore ISI upped their target price on shares of Vertex Pharmaceuticals from $475.00 to $530.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. Leerink Partners increased their price target on shares of Vertex Pharmaceuticals from $456.00 to $525.00 and gave the company an “outperform” rating in a report on Monday, December 29th. Wolfe Research raised Vertex Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $548.00 price objective on the stock in a research note on Tuesday, January 6th. Finally, Morgan Stanley set a $564.00 price objective on Vertex Pharmaceuticals in a research note on Friday, December 5th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $522.68.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.