Mutual of America Capital Management LLC Trims Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Mutual of America Capital Management LLC lessened its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,832 shares of the pharmaceutical company’s stock after selling 763 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Vertex Pharmaceuticals were worth $15,735,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Northwest Investment Counselors LLC bought a new position in shares of Vertex Pharmaceuticals in the third quarter worth about $25,000. Highline Wealth Partners LLC bought a new stake in Vertex Pharmaceuticals during the 3rd quarter worth approximately $27,000. GHP Investment Advisors Inc. purchased a new position in Vertex Pharmaceuticals during the second quarter valued at approximately $29,000. Stephens Consulting LLC bought a new position in shares of Vertex Pharmaceuticals in the second quarter worth approximately $31,000. Finally, Founders Capital Management increased its stake in shares of Vertex Pharmaceuticals by 50.0% in the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock worth $35,000 after purchasing an additional 25 shares in the last quarter. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of VRTX stock opened at $465.70 on Friday. The company has a market capitalization of $119.93 billion, a P/E ratio of -234.02 and a beta of 0.39. The company’s 50-day simple moving average is $476.39 and its two-hundred day simple moving average is $471.60. Vertex Pharmaceuticals Incorporated has a one year low of $341.90 and a one year high of $519.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.61 by $0.77. The company had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. Vertex Pharmaceuticals’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.67 earnings per share. As a group, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.82 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. HC Wainwright restated a “buy” rating and set a $600.00 target price on shares of Vertex Pharmaceuticals in a research note on Monday, October 21st. JPMorgan Chase & Co. dropped their price objective on Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Citigroup started coverage on Vertex Pharmaceuticals in a research note on Thursday. They set a “buy” rating and a $575.00 target price on the stock. Barclays downgraded Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $472.00 to $509.00 in a research note on Monday, August 5th. Finally, TD Cowen lifted their price objective on shares of Vertex Pharmaceuticals from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $499.12.

Insider Activity

In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the transaction, the chairman now directly owns 9,994 shares of the company’s stock, valued at $4,987,006. This trade represents a 27.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Sangeeta N. Bhatia sold 646 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $500.00, for a total value of $323,000.00. Following the sale, the director now owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. This represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

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.