Envestnet Portfolio Solutions Inc. Sells 17,777 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Envestnet Portfolio Solutions Inc. cut its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 48.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,249 shares of the pharmaceutical company’s stock after selling 17,777 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Vertex Pharmaceuticals were worth $7,752,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VRTX. OneDigital Investment Advisors LLC boosted its stake in Vertex Pharmaceuticals by 62.7% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,817 shares of the pharmaceutical company’s stock worth $1,310,000 after purchasing an additional 1,086 shares during the period. Claro Advisors LLC boosted its stake in Vertex Pharmaceuticals by 24.1% in the 3rd quarter. Claro Advisors LLC now owns 2,425 shares of the pharmaceutical company’s stock worth $1,128,000 after purchasing an additional 471 shares during the period. Quest Partners LLC boosted its stake in Vertex Pharmaceuticals by 3,856.6% in the 3rd quarter. Quest Partners LLC now owns 3,284 shares of the pharmaceutical company’s stock worth $1,527,000 after purchasing an additional 3,201 shares during the period. Meeder Advisory Services Inc. boosted its stake in Vertex Pharmaceuticals by 1.1% in the 3rd quarter. Meeder Advisory Services Inc. now owns 5,634 shares of the pharmaceutical company’s stock worth $2,620,000 after purchasing an additional 62 shares during the period. Finally, Joseph Group Capital Management boosted its stake in Vertex Pharmaceuticals by 17.7% in the 3rd quarter. Joseph Group Capital Management now owns 5,672 shares of the pharmaceutical company’s stock worth $2,638,000 after purchasing an additional 855 shares during the period. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Up 1.8 %

Shares of VRTX opened at $513.76 on Tuesday. Vertex Pharmaceuticals Incorporated has a 12 month low of $377.85 and a 12 month high of $519.88. The firm’s 50 day moving average is $459.97 and its 200-day moving average is $461.84. The stock has a market capitalization of $131.93 billion, a PE ratio of -233.53, a P/E/G ratio of 2.11 and a beta of 0.41. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 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%. Equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on VRTX. Wells Fargo & Company downgraded shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 price objective for the company. in a research note on Thursday, January 30th. Royal Bank of Canada increased their price objective on shares of Vertex Pharmaceuticals from $407.00 to $408.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 20th. Stifel Nicolaus increased their price objective on shares of Vertex Pharmaceuticals from $490.00 to $494.00 and gave the stock a “hold” rating in a research note on Monday, December 16th. Piper Sandler reduced their price objective on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. Finally, Oppenheimer downgraded shares of Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Ten research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $506.70.

Insider Transactions at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 244 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total transaction of $111,034.64. Following the sale, the executive vice president now owns 67,695 shares in the company, valued at approximately $30,805,286.70. This trade represents a 0.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP David Altshuler sold 3,231 shares of the 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 sale, the executive vice president now owns 26,512 shares in the company, valued at $13,256,000. This represents a 10.86 % 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 valued at $2,121,012. 0.20% of the stock is currently 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.