Vertex Pharmaceuticals Incorporated $VRTX Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC lowered its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 8.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 13,807 shares of the pharmaceutical company’s stock after selling 1,236 shares during the period. Park Avenue Securities LLC’s holdings in Vertex Pharmaceuticals were worth $6,260,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of VRTX. Hohimer Wealth Management LLC grew its stake in Vertex Pharmaceuticals by 1.2% in the second quarter. Hohimer Wealth Management LLC now owns 2,123 shares of the pharmaceutical company’s stock worth $945,000 after purchasing an additional 26 shares in the last quarter. Legacy Wealth Asset Management LLC increased its holdings in Vertex Pharmaceuticals by 1.8% in the third quarter. Legacy Wealth Asset Management LLC now owns 1,442 shares of the pharmaceutical company’s stock valued at $565,000 after buying an additional 26 shares during the last quarter. Quent Capital LLC raised its stake in Vertex Pharmaceuticals by 5.5% during the third quarter. Quent Capital LLC now owns 501 shares of the pharmaceutical company’s stock valued at $196,000 after buying an additional 26 shares in the last quarter. Washington Trust Advisors Inc. lifted its holdings in Vertex Pharmaceuticals by 8.0% during the 3rd quarter. Washington Trust Advisors Inc. now owns 349 shares of the pharmaceutical company’s stock worth $137,000 after buying an additional 26 shares during the last quarter. Finally, Defined Wealth Management LLC lifted its holdings in Vertex Pharmaceuticals by 3.0% during the 3rd quarter. Defined Wealth Management LLC now owns 932 shares of the pharmaceutical company’s stock worth $365,000 after buying an additional 27 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 2,329 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $481.79, for a total value of $1,122,088.91. Following the sale, the chief marketing officer directly owned 35,405 shares in the company, valued at approximately $17,057,774.95. This trade represents a 6.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Mark E. Bunnage sold 620 shares of the business’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $486.35, for a total transaction of $301,537.00. Following the transaction, the executive vice president directly owned 7,284 shares of the company’s stock, valued at approximately $3,542,573.40. This trade represents a 7.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 93,485 shares of company stock valued at $43,967,586 over the last three months. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Trading Down 0.9%

NASDAQ:VRTX opened at $454.04 on Friday. The stock has a 50 day moving average of $469.17 and a 200-day moving average of $440.41. The firm has a market capitalization of $115.34 billion, a PE ratio of 29.62, a price-to-earnings-growth ratio of 1.94 and a beta of 0.31. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $513.97.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Thursday, February 12th. The pharmaceutical company reported $5.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.05 by ($0.02). Vertex Pharmaceuticals had a return on equity of 24.30% and a net margin of 32.94%.The company had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.18 billion. During the same period last year, the business posted $3.98 EPS. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

VRTX has been the subject of several research reports. Evercore lifted their target price on Vertex Pharmaceuticals from $475.00 to $530.00 and gave the stock an “outperform” rating in a research report on Friday, January 23rd. UBS Group raised their price objective on Vertex Pharmaceuticals from $535.00 to $545.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Weiss Ratings raised shares of Vertex Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 4th. Canaccord Genuity Group boosted their target price on shares of Vertex Pharmaceuticals from $411.00 to $441.00 and gave the company a “hold” rating in a research note on Tuesday, February 17th. Finally, Stifel Nicolaus increased their target price on shares of Vertex Pharmaceuticals from $445.00 to $466.00 and gave the stock a “hold” rating in a report on Friday, February 13th. Twenty-four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $554.30.

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.