Washington Trust Bank Sells 1,460 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Washington Trust Bank decreased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,811 shares of the pharmaceutical company’s stock after selling 1,460 shares during the quarter. Washington Trust Bank’s holdings in Vertex Pharmaceuticals were worth $12,005,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. ABC Arbitrage SA bought a new stake in Vertex Pharmaceuticals during the fourth quarter worth approximately $1,510,000. Czech National Bank boosted its position in 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 period. Highview Capital Management LLC DE boosted its position in Vertex Pharmaceuticals by 1.8% during the fourth quarter. Highview Capital Management LLC DE now owns 5,771 shares of the pharmaceutical company’s stock worth $2,324,000 after purchasing an additional 102 shares during the period. Davidson Investment Advisors boosted its position in Vertex Pharmaceuticals by 26.0% during the fourth quarter. Davidson Investment Advisors now owns 61,161 shares of the pharmaceutical company’s stock worth $24,630,000 after purchasing an additional 12,631 shares during the period. Finally, Jones Financial Companies Lllp boosted its position in Vertex Pharmaceuticals by 75.5% during the fourth quarter. Jones Financial Companies Lllp now owns 2,468 shares of the pharmaceutical company’s stock worth $994,000 after purchasing an additional 1,062 shares during the period. Institutional investors own 90.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Canaccord Genuity Group raised Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and upped their target price for the stock from $408.00 to $424.00 in a research report on Tuesday, February 11th. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Piper Sandler cut their price target on Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Scotiabank upped their price target on Vertex Pharmaceuticals from $433.00 to $450.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $480.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Ten investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $506.70.

Insider Transactions at Vertex Pharmaceuticals

In related news, EVP David Altshuler sold 3,231 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 26,512 shares in the company, valued at $13,256,000. This trade represents a 10.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ourania Tatsis sold 310 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $459.83, for a total value of $142,547.30. Following the completion of the transaction, the executive vice president now owns 64,021 shares in the company, valued at approximately $29,438,776.43. This represents a 0.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,315 shares of company stock worth $2,121,012. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ:VRTX opened at $503.20 on Friday. The business’s fifty day moving average price is $467.89 and its two-hundred day moving average price is $462.69. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35. The stock has a market capitalization of $129.22 billion, a price-to-earnings ratio of -228.73, a price-to-earnings-growth ratio of 2.11 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88.

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%. As a group, 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.