State of Tennessee Department of Treasury Has $37.53 Million Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

State of Tennessee Department of Treasury lessened its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 7.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,189 shares of the pharmaceutical company’s stock after selling 7,333 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Vertex Pharmaceuticals were worth $37,527,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of VRTX. Brown Lisle Cummings Inc. acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter worth approximately $30,000. Sugar Maple Asset Management LLC bought a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth $35,000. Golden State Wealth Management LLC bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at about $37,000. Truvestments Capital LLC lifted its position in Vertex Pharmaceuticals by 30.3% during the 4th quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company’s stock worth $40,000 after buying an additional 23 shares in the last quarter. Finally, ORG Partners LLC increased its position in Vertex Pharmaceuticals by 108.2% in the 4th quarter. ORG Partners LLC now owns 102 shares of the pharmaceutical company’s stock valued at $41,000 after acquiring an additional 53 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $477.52 on Tuesday. The company has a fifty day moving average price of $487.25 and a 200 day moving average price of $465.46. The firm has a market cap of $122.62 billion, a PE ratio of -217.05, a PEG ratio of 2.11 and a beta of 0.50. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a 1-year low of $377.85 and a 1-year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share 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%. Research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on VRTX. StockNews.com raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, March 11th. Barclays upped their price target on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. Wells Fargo & Company cut Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 price objective for the company. in a report on Thursday, January 30th. Piper Sandler dropped their price target on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $480.00 price objective on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Ten analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $512.41.

Insider Activity

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 244 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 67,695 shares of the company’s stock, valued at $30,805,286.70. The trade was a 0.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP David Altshuler sold 3,231 shares of the firm’s stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 26,512 shares of the company’s stock, valued at $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 worth $2,121,012 over the last ninety days. 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.