Jupiter Asset Management Ltd. Reduces Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Jupiter Asset Management Ltd. trimmed its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 51.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 78,166 shares of the pharmaceutical company’s stock after selling 81,761 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Vertex Pharmaceuticals were worth $31,477,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Dunhill Financial LLC grew its stake in Vertex Pharmaceuticals by 70.6% in the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 24 shares in the last quarter. Legacy Investment Solutions LLC acquired a new position in Vertex Pharmaceuticals in the third quarter worth about $33,000. Brown Lisle Cummings Inc. acquired a new position in Vertex Pharmaceuticals in the fourth quarter worth about $30,000. Truvestments Capital LLC acquired a new position in Vertex Pharmaceuticals in the third quarter worth about $35,000. Finally, Sugar Maple Asset Management LLC acquired a new position in Vertex Pharmaceuticals in the fourth quarter worth about $35,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on VRTX shares. Bank of America decreased their price target on Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Oppenheimer downgraded Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Scotiabank lifted their target price on Vertex Pharmaceuticals from $433.00 to $450.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. Finally, JPMorgan Chase & Co. decreased their target price on Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Ten investment 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’s stock. Based on data from MarketBeat, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $506.70.

Insider Activity

In other news, EVP Ourania Tatsis sold 244 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total transaction of $111,034.64. Following the completion of the sale, the executive vice president now owns 67,695 shares in the company, valued at approximately $30,805,286.70. This represents a 0.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders sold 1,084 shares of company stock worth $505,512. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

VRTX opened at $488.34 on Wednesday. The company has a market capitalization of $125.40 billion, a price-to-earnings ratio of -221.97, a price-to-earnings-growth ratio of 2.11 and a beta of 0.41. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35. Vertex Pharmaceuticals Incorporated has a 1-year low of $377.85 and a 1-year high of $519.88. The business has a 50 day moving average price of $451.99 and a two-hundred day moving average price of $461.34.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced 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 net margin of 4.86% and a negative return on equity of 2.02%. Research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal 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.