Advisory Services Network LLC Has $2.74 Million Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Advisory Services Network LLC cut its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 10.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,796 shares of the pharmaceutical company's stock after selling 774 shares during the quarter. Advisory Services Network LLC's holdings in Vertex Pharmaceuticals were worth $2,737,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Brown Lisle Cummings Inc. acquired a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth approximately $30,000. Sugar Maple Asset Management LLC bought a new stake in Vertex Pharmaceuticals during the 4th quarter valued at approximately $35,000. Golden State Wealth Management LLC bought a new position in Vertex Pharmaceuticals during the fourth quarter worth $37,000. Truvestments Capital LLC raised its position in shares of Vertex Pharmaceuticals by 30.3% during the fourth quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock valued at $40,000 after buying an additional 23 shares during the last quarter. Finally, ORG Partners LLC raised its holdings in Vertex Pharmaceuticals by 108.2% in the 4th quarter. ORG Partners LLC now owns 102 shares of the pharmaceutical company's stock valued at $41,000 after acquiring an additional 53 shares in the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Ourania Tatsis sold 244 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total transaction of $111,034.64. Following the completion of the transaction, the executive vice president now directly owns 67,695 shares in the company, valued at $30,805,286.70. This represents a 0.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP David Altshuler sold 3,231 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $500.00, for a total value of $1,615,500.00. Following the sale, the executive vice president now owns 26,512 shares in the company, valued at $13,256,000. The trade was a 10.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,315 shares of company stock worth $2,121,012 over the last quarter. 0.20% of the stock is currently owned by company insiders.

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Analyst Ratings Changes

A number of research analysts recently commented on the company. Cantor Fitzgerald restated an "overweight" rating and issued a $480.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Truist Financial raised their price target on shares of Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. JPMorgan Chase & Co. dropped their target price on Vertex Pharmaceuticals from $503.00 to $500.00 and set an "overweight" rating for the company in a report on Monday, December 23rd. Bank of America increased their price objective on Vertex Pharmaceuticals from $555.00 to $567.00 and gave the stock a "buy" rating in a research note on Monday, March 31st. Finally, William Blair reiterated an "outperform" rating on shares of Vertex Pharmaceuticals in a research report on Friday, January 31st. Ten research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals has an average rating of "Moderate Buy" and an average price target of $512.41.

Vertex Pharmaceuticals Trading Up 2.4 %

Shares of VRTX stock traded up $11.61 on Monday, hitting $495.83. The stock had a trading volume of 1,362,217 shares, compared to its average volume of 1,326,199. The firm has a market cap of $127.32 billion, a P/E ratio of -225.38, a PEG ratio of 2.11 and a beta of 0.50. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01. The company has a fifty day moving average price of $484.84 and a two-hundred day moving average price of $464.28.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 EPS for the quarter, missing analysts' consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. As a group, analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.