Raab & Moskowitz Asset Management LLC Cuts Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Raab & Moskowitz Asset Management LLC lowered its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,701 shares of the pharmaceutical company’s stock after selling 48 shares during the period. Raab & Moskowitz Asset Management LLC’s holdings in Vertex Pharmaceuticals were worth $685,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in VRTX. State Street Corp grew its position in Vertex Pharmaceuticals by 0.8% in the 3rd quarter. State Street Corp now owns 11,816,249 shares of the pharmaceutical company’s stock worth $5,495,501,000 after purchasing an additional 90,173 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Vertex Pharmaceuticals by 18.1% in the 3rd quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company’s stock worth $2,581,373,000 after buying an additional 851,054 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Vertex Pharmaceuticals by 17.2% in the third quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company’s stock valued at $2,231,858,000 after acquiring an additional 704,421 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Vertex Pharmaceuticals by 5.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,905,705 shares of the pharmaceutical company’s stock valued at $1,351,385,000 after acquiring an additional 159,693 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in Vertex Pharmaceuticals by 4.1% during the third quarter. Janus Henderson Group PLC now owns 2,516,831 shares of the pharmaceutical company’s stock worth $1,170,506,000 after acquiring an additional 100,114 shares during the period. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 310 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $29,438,776.43. The trade was a 0.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ:VRTX opened at $453.20 on Thursday. Vertex Pharmaceuticals Incorporated has a 12 month low of $377.85 and a 12 month high of $519.88. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. The company has a 50 day moving average of $435.91 and a 200 day moving average of $461.85.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results 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 1.91% and a negative net margin of 4.52%. On average, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post -1.94 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on VRTX shares. William Blair restated an “outperform” rating on shares of Vertex Pharmaceuticals in a research note on Friday, January 31st. Oppenheimer lowered shares of Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. Barclays lifted their price objective 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. HC Wainwright reiterated a “buy” rating and issued a $550.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday. Finally, Piper Sandler decreased 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. Ten research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $505.96.

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.