Vertex Pharmaceuticals Incorporated $VRTX Shares Sold by Cerity Partners LLC

Cerity Partners LLC decreased its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 258,808 shares of the pharmaceutical company’s stock after selling 4,884 shares during the quarter. Cerity Partners LLC owned approximately 0.10% of Vertex Pharmaceuticals worth $101,359,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of VRTX. Chesapeake Asset Management LLC boosted its position in Vertex Pharmaceuticals by 110.0% in the 3rd quarter. Chesapeake Asset Management LLC now owns 63 shares of the pharmaceutical company’s stock worth $25,000 after purchasing an additional 33 shares in the last quarter. Access Investment Management LLC purchased a new stake in Vertex Pharmaceuticals during the second quarter worth $27,000. Legacy Investment Solutions LLC purchased a new stake in Vertex Pharmaceuticals during the second quarter worth $29,000. Flaharty Asset Management LLC acquired a new stake in Vertex Pharmaceuticals during the first quarter valued at $32,000. Finally, Total Investment Management Inc. purchased a new position in Vertex Pharmaceuticals in the second quarter valued at $33,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Trading Up 4.4%

NASDAQ:VRTX opened at $468.58 on Wednesday. The stock has a 50 day moving average of $440.40 and a two-hundred day moving average of $426.49. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.68. The firm has a market cap of $118.89 billion, a P/E ratio of 33.05 and a beta of 0.31.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.58 by $0.22. Vertex Pharmaceuticals had a return on equity of 23.51% and a net margin of 31.35%.The firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same period in the previous year, the company posted $4.38 earnings per share. The business’s revenue was up 11.0% on a year-over-year basis. On average, research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Analyst Ratings Changes

VRTX has been the topic of a number of analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a research report on Wednesday, October 8th. Wolfe Research upgraded Vertex Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $548.00 price target on the stock in a research report on Tuesday. Leerink Partners raised their price objective on Vertex Pharmaceuticals from $456.00 to $525.00 and gave the company an “outperform” rating in a report on Monday, December 29th. Scotiabank started coverage on Vertex Pharmaceuticals in a research note on Thursday, November 13th. They set a “sector outperform” rating and a $495.00 target price for the company. Finally, Wells Fargo & Company increased their target price on Vertex Pharmaceuticals from $460.00 to $515.00 and gave the company an “overweight” rating in a research report on Wednesday, December 10th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $503.80.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, Chairman Jeffrey M. Leiden sold 63,781 shares of the company’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $449.20, for a total transaction of $28,650,425.20. Following the completion of the sale, the chairman owned 24,026 shares of the company’s stock, valued at $10,792,479.20. This represents a 72.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Charles F. Wagner, Jr. sold 14,000 shares of the stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $456.00, for a total transaction of $6,384,000.00. Following the completion of the sale, the executive vice president owned 37,725 shares of the company’s stock, valued at $17,202,600. This trade represents a 27.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 151,073 shares of company stock worth $67,326,816. 0.20% of the stock is currently owned by corporate insiders.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.