Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Cravens & Co Advisors LLC

Cravens & Co Advisors LLC lowered its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,162 shares of the pharmaceutical company’s stock after selling 46 shares during the quarter. Cravens & Co Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $871,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VRTX. Norges Bank purchased a new position in Vertex Pharmaceuticals during the fourth quarter valued at approximately $1,374,948,000. Parnassus Investments LLC purchased a new position in Vertex Pharmaceuticals during the fourth quarter worth approximately $731,283,000. Edgewood Management LLC lifted its position in shares of Vertex Pharmaceuticals by 91.2% during the 4th 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. Wellington Management Group LLP increased its holdings in Vertex Pharmaceuticals by 23.3% in the 4th quarter. Wellington Management Group LLP now owns 5,916,084 shares of the pharmaceutical company’s stock worth $2,382,407,000 after acquiring an additional 1,117,214 shares in the last quarter. Finally, WCM Investment Management LLC acquired a new position in Vertex Pharmaceuticals during the fourth quarter worth $435,899,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 310 shares of Vertex Pharmaceuticals stock in a transaction on 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 owns 64,021 shares of the company’s stock, valued at $29,438,776.43. The trade was a 0.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David Altshuler sold 3,231 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the sale, the executive vice president now owns 26,512 shares in the company, valued at approximately $13,256,000. This represents a 10.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,315 shares of company stock valued at $2,121,012 over the last three months. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

VRTX has been the topic of several research reports. Canaccord Genuity Group upgraded Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and raised their target price for the company from $408.00 to $424.00 in a research report on Tuesday, February 11th. Scotiabank boosted their price target 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. Royal Bank of Canada increased their price target on shares of Vertex Pharmaceuticals from $408.00 to $420.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 1st. Bank of America increased their target price on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the stock a “buy” rating in a report on Monday, March 31st. Finally, JPMorgan Chase & Co. reduced their price objective on Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Ten research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $512.41.

Vertex Pharmaceuticals Trading Up 0.9 %

NASDAQ:VRTX opened at $500.49 on Wednesday. The firm has a market capitalization of $128.52 billion, a PE ratio of -227.50, a price-to-earnings-growth ratio of 2.11 and a beta of 0.50. 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 12 month low of $377.85 and a 12 month high of $519.88. The business’s 50-day moving average is $485.37 and its two-hundred day moving average is $464.76.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued 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%. Research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

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.