Vertex Pharmaceuticals Incorporated $VRTX Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA cut its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 60.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 503,160 shares of the pharmaceutical company’s stock after selling 781,194 shares during the period. Massachusetts Financial Services Co. MA owned about 0.20% of Vertex Pharmaceuticals worth $197,058,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of VRTX. Chesapeake Asset Management LLC boosted its stake in shares of Vertex Pharmaceuticals by 110.0% in the 3rd quarter. Chesapeake Asset Management LLC now owns 63 shares of the pharmaceutical company’s stock valued at $25,000 after buying an additional 33 shares during the period. Access Investment Management LLC purchased a new stake in shares of Vertex Pharmaceuticals during the second quarter worth approximately $27,000. Legacy Investment Solutions LLC acquired a new stake in Vertex Pharmaceuticals in the second quarter valued at approximately $29,000. Total Investment Management Inc. purchased a new position in Vertex Pharmaceuticals in the second quarter worth approximately $33,000. Finally, Financial Network Wealth Advisors LLC grew its holdings in Vertex Pharmaceuticals by 50.9% during the 3rd quarter. Financial Network Wealth Advisors LLC now owns 86 shares of the pharmaceutical company’s stock worth $34,000 after acquiring an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of VRTX opened at $441.36 on Tuesday. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $519.68. The stock has a market cap of $111.98 billion, a PE ratio of 31.13 and a beta of 0.31. The firm has a fifty day moving average price of $447.00 and a 200 day moving average price of $426.99.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.58 by $0.22. Vertex Pharmaceuticals had a return on equity of 23.51% and a net margin of 31.35%.The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same quarter last year, the company posted $4.38 earnings per share. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, equities analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

VRTX has been the topic of a number of recent analyst reports. Barclays increased their price objective on shares of Vertex Pharmaceuticals from $408.00 to $414.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 4th. Leerink Partnrs raised Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 25th. Wells Fargo & Company raised their price target on Vertex Pharmaceuticals from $460.00 to $515.00 and gave the company an “overweight” rating in a research note on Wednesday, December 10th. Leerink Partners lifted their price target on Vertex Pharmaceuticals from $456.00 to $525.00 and gave the stock an “outperform” rating in a report on Monday, December 29th. Finally, UBS Group initiated coverage on Vertex Pharmaceuticals in a report on Tuesday, January 6th. They issued a “buy” rating and a $535.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $503.80.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 63,781 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $449.20, for a total value of $28,650,425.20. Following the completion of the sale, the chairman owned 24,026 shares in the company, valued at approximately $10,792,479.20. The trade was a 72.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ourania Tatsis sold 4,500 shares of the stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $474.99, for a total value of $2,137,455.00. Following the completion of the sale, the executive vice president directly owned 42,293 shares of the company’s stock, valued at $20,088,752.07. The trade was a 9.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 165,105 shares of company stock valued at $73,858,523 over the last quarter. Company insiders own 0.20% of the company’s stock.

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.