Vertex Pharmaceuticals Incorporated $VRTX Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC trimmed its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 16.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 333,732 shares of the pharmaceutical company’s stock after selling 67,512 shares during the period. ProShare Advisors LLC owned approximately 0.13% of Vertex Pharmaceuticals worth $130,703,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VRTX. Linden Thomas Advisory Services LLC grew its holdings in shares of Vertex Pharmaceuticals by 3.2% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 8,419 shares of the pharmaceutical company’s stock worth $3,297,000 after purchasing an additional 258 shares during the period. Breakwater Capital Group boosted its stake in Vertex Pharmaceuticals by 6.6% during the third quarter. Breakwater Capital Group now owns 1,961 shares of the pharmaceutical company’s stock worth $768,000 after buying an additional 122 shares during the period. Oppenheimer Asset Management Inc. increased its position in shares of Vertex Pharmaceuticals by 18.5% during the third quarter. Oppenheimer Asset Management Inc. now owns 25,460 shares of the pharmaceutical company’s stock valued at $9,971,000 after acquiring an additional 3,972 shares during the last quarter. Waterfront Wealth Inc. purchased a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter valued at approximately $886,000. Finally, Plato Investment Management Ltd lifted its holdings in shares of Vertex Pharmaceuticals by 3.4% in the 3rd quarter. Plato Investment Management Ltd now owns 6,026 shares of the pharmaceutical company’s stock worth $2,342,000 after acquiring an additional 197 shares during the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insider Buying and Selling

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

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $477.92 on Monday. The company has a market cap of $121.26 billion, a price-to-earnings ratio of 33.70 and a beta of 0.30. The stock’s 50-day moving average is $457.64 and its two-hundred day moving average is $427.10. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $519.68.

Analyst Ratings Changes

Several research firms recently weighed in on VRTX. Barclays upgraded shares of Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $414.00 to $606.00 in a report on Tuesday, January 27th. Wells Fargo & Company boosted their price objective on Vertex Pharmaceuticals from $460.00 to $515.00 and gave the company an “overweight” rating in a report on Wednesday, December 10th. Wolfe Research raised Vertex Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $548.00 target price on the stock in a research note on Tuesday, January 6th. Morgan Stanley set a $564.00 target price on Vertex Pharmaceuticals in a research report on Friday, December 5th. Finally, Stifel Nicolaus cut their price target on shares of Vertex Pharmaceuticals from $455.00 to $445.00 and set a “hold” rating on the stock in a research note on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $522.68.

About Vertex Pharmaceuticals

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.