Vertex Pharmaceuticals Incorporated $VRTX Shares Sold by Bailard Inc.

Bailard Inc. trimmed its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 9.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,639 shares of the pharmaceutical company’s stock after selling 3,508 shares during the quarter. Bailard Inc.’s holdings in Vertex Pharmaceuticals were worth $13,566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lee Johnson Capital Management LLC acquired a new position in shares of Vertex Pharmaceuticals in the 2nd quarter valued at $721,000. Police & Firemen s Retirement System of New Jersey raised its position in shares of Vertex Pharmaceuticals by 3.7% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 39,035 shares of the pharmaceutical company’s stock worth $17,378,000 after acquiring an additional 1,393 shares during the period. SteelPeak Wealth LLC acquired a new position in shares of Vertex Pharmaceuticals in the second quarter worth about $10,059,000. Moody Lynn & Lieberson LLC boosted its stake in shares of Vertex Pharmaceuticals by 1.4% during the 2nd quarter. Moody Lynn & Lieberson LLC now owns 58,077 shares of the pharmaceutical company’s stock worth $25,856,000 after acquiring an additional 822 shares in the last quarter. Finally, Advisory Resource Group acquired a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter valued at about $1,286,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Stock Up 0.2%

NASDAQ VRTX opened at $442.08 on Wednesday. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $519.68. The business’s fifty day simple moving average is $447.25 and its 200-day simple moving average is $426.90. The firm has a market cap of $112.16 billion, a PE ratio of 31.18 and a beta of 0.31.

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

Analysts Set New Price Targets

VRTX has been the subject of a number of analyst reports. Sanford C. Bernstein raised Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating in a report on Monday, January 12th. Morgan Stanley set a $564.00 target price on Vertex Pharmaceuticals in a research note on Friday, December 5th. 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. Royal Bank Of Canada cut their price target on shares of Vertex Pharmaceuticals from $423.00 to $415.00 and set a “sector perform” rating for the company in a report on Tuesday, November 4th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $503.80.

Insider Transactions at Vertex Pharmaceuticals

In related news, EVP Charles F. Wagner, Jr. sold 9,532 shares of the stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $461.00, for a total value of $4,394,252.00. Following the completion of the transaction, the executive vice president directly owned 37,725 shares in the company, valued at approximately $17,391,225. This represents a 20.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Jeffrey M. Leiden sold 63,781 shares of Vertex Pharmaceuticals stock in a transaction on Wednesday, December 3rd. The shares were 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 $10,792,479.20. This represents a 72.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 165,105 shares of company stock worth $73,858,523 in the last 90 days. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Company 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.