Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Position Cut by Fmr LLC

Fmr LLC lessened its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 12.4% in the fourth quarter, HoldingsChannel reports. The fund owned 9,219,046 shares of the pharmaceutical company’s stock after selling 1,305,967 shares during the period. Fmr LLC’s holdings in Vertex Pharmaceuticals were worth $3,712,510,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Edgewood Management LLC boosted its stake in Vertex Pharmaceuticals by 91.2% during the fourth quarter. Edgewood Management LLC now owns 2,956,608 shares of the pharmaceutical company’s stock valued at $1,190,626,000 after buying an additional 1,410,238 shares in the last quarter. Ilmarinen Mutual Pension Insurance Co boosted its holdings in Vertex Pharmaceuticals by 45.1% during the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 28,300 shares of the pharmaceutical company’s stock worth $11,396,000 after buying an additional 8,800 shares in the last quarter. Russell Investments Group Ltd. grew its position in Vertex Pharmaceuticals by 4.1% in the fourth quarter. Russell Investments Group Ltd. now owns 239,342 shares of the pharmaceutical company’s stock worth $96,325,000 after buying an additional 9,377 shares during the last quarter. Hemenway Trust Co LLC increased its holdings in shares of Vertex Pharmaceuticals by 23.2% in the fourth quarter. Hemenway Trust Co LLC now owns 49,413 shares of the pharmaceutical company’s stock valued at $19,899,000 after buying an additional 9,294 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Vertex Pharmaceuticals by 4.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 422,698 shares of the pharmaceutical company’s stock worth $170,220,000 after acquiring an additional 19,630 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Analysts Set New Price Targets

VRTX has been the subject of several analyst reports. Wells Fargo & Company downgraded Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 target price for the company. in a report on Thursday, January 30th. Scotiabank lifted their target price on shares of Vertex Pharmaceuticals from $433.00 to $450.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 11th. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Jefferies Financial Group upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $500.00 to $550.00 in a research report on Monday, December 9th. Finally, Canaccord Genuity Group raised Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and raised their target price for the stock from $408.00 to $424.00 in a research report on Tuesday, February 11th. Ten analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $509.17.

Insider Activity

In related news, EVP Ourania Tatsis sold 244 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total transaction of $111,034.64. Following the transaction, the executive vice president now directly owns 67,695 shares in the company, valued at $30,805,286.70. The trade was a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP David Altshuler sold 3,231 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $500.00, for a total value of $1,615,500.00. Following the sale, the executive vice president now directly owns 26,512 shares in the company, valued at $13,256,000. The trade was a 10.86 % 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 valued at $2,121,012. 0.20% of the stock is owned by company insiders.

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX opened at $474.62 on Friday. The firm has a market capitalization of $121.88 billion, a PE ratio of -215.74, a PEG ratio of 2.11 and a beta of 0.50. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01. The firm’s fifty day simple moving average is $481.54 and its 200 day simple moving average is $463.73.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 EPS for the quarter, missing analysts’ consensus estimates 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%. On average, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Vertex Pharmaceuticals 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.