Allspring Global Investments Holdings LLC Trims Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Allspring Global Investments Holdings LLC lessened its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 59.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,626 shares of the pharmaceutical company’s stock after selling 139,700 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Vertex Pharmaceuticals were worth $39,207,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of VRTX. Czech National Bank lifted its position in shares of Vertex Pharmaceuticals by 6.2% during the fourth 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 during the last quarter. Whalen Wealth Management Inc. bought a new stake in Vertex Pharmaceuticals during the 3rd quarter valued at about $662,000. Concord Wealth Partners boosted its position in Vertex Pharmaceuticals by 32.6% in the 4th quarter. Concord Wealth Partners now owns 3,508 shares of the pharmaceutical company’s stock valued at $1,413,000 after buying an additional 862 shares during the period. Mizuho Securities USA LLC grew its stake in Vertex Pharmaceuticals by 289.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 77,393 shares of the pharmaceutical company’s stock worth $35,994,000 after acquiring an additional 57,497 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in shares of Vertex Pharmaceuticals by 19.4% during the fourth quarter. Nordea Investment Management AB now owns 342,429 shares of the pharmaceutical company’s stock worth $137,783,000 after acquiring an additional 55,739 shares during the period. Institutional investors own 90.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on VRTX shares. Bank of America dropped their price objective on Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Cantor Fitzgerald restated an “overweight” rating and set a $480.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday. William Blair reaffirmed an “outperform” rating on shares of Vertex Pharmaceuticals in a research note on Friday, January 31st. Stifel Nicolaus raised their target price on shares of Vertex Pharmaceuticals from $490.00 to $494.00 and gave the company a “hold” rating in a research report on Monday, December 16th. Finally, Barclays upped their price target on shares of Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Ten research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $505.96.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 310 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $459.83, for a total transaction of $142,547.30. Following the sale, the executive vice president now directly owns 64,021 shares of the company’s stock, valued at approximately $29,438,776.43. This trade represents a 0.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is currently owned by corporate insiders.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX opened at $459.00 on Friday. The stock has a 50-day moving average of $435.75 and a two-hundred day moving average of $461.80. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47. The stock has a market cap of $118.21 billion, a P/E ratio of -230.65, a P/E/G ratio of 1.80 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a one year low of $377.85 and a one year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results 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 net margin of 4.52% and a negative return on equity of 1.91%. As a group, research analysts predict that Vertex Pharmaceuticals Incorporated will post -1.94 EPS for the current year.

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.