Allspring Global Investments Holdings LLC Lowers Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Allspring Global Investments Holdings LLC trimmed its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 59.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 96,626 shares of the pharmaceutical company's stock after selling 139,700 shares during the period. Allspring Global Investments Holdings LLC's holdings in Vertex Pharmaceuticals were worth $39,207,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Creative Planning lifted its holdings in Vertex Pharmaceuticals by 1.7% during the 3rd quarter. Creative Planning now owns 80,467 shares of the pharmaceutical company's stock worth $37,424,000 after purchasing an additional 1,350 shares during the last quarter. NBC Securities Inc. lifted its holdings in Vertex Pharmaceuticals by 34.5% during the 3rd quarter. NBC Securities Inc. now owns 160 shares of the pharmaceutical company's stock worth $74,000 after purchasing an additional 41 shares during the last quarter. Good Life Advisors LLC acquired a new stake in Vertex Pharmaceuticals during the 3rd quarter worth approximately $222,000. Teamwork Financial Advisors LLC lifted its holdings in Vertex Pharmaceuticals by 1,588.1% during the 3rd quarter. Teamwork Financial Advisors LLC now owns 10,095 shares of the pharmaceutical company's stock worth $4,695,000 after purchasing an additional 9,497 shares during the last quarter. Finally, Trifecta Capital Advisors LLC lifted its holdings in Vertex Pharmaceuticals by 1.6% during the 3rd quarter. Trifecta Capital Advisors LLC now owns 13,535 shares of the pharmaceutical company's stock worth $6,295,000 after purchasing an additional 219 shares during the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 310 shares of the business's stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $459.83, for a total transaction of $142,547.30. Following the completion of the sale, the executive vice president now directly owns 64,021 shares of the company's stock, valued at approximately $29,438,776.43. The trade was a 0.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on VRTX. Scotiabank lifted their price target on Vertex Pharmaceuticals from $433.00 to $450.00 and gave the stock a "sector perform" rating in a report on Tuesday, February 11th. HC Wainwright reaffirmed a "buy" rating and issued a $550.00 price objective on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. UBS Group lifted their price objective on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Citigroup initiated coverage on Vertex Pharmaceuticals in a research note on Thursday, November 14th. They issued a "buy" rating and a $575.00 price target on the stock. Finally, William Blair reiterated an "outperform" rating on shares of Vertex Pharmaceuticals in a research note on Friday, January 31st. Ten analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Vertex Pharmaceuticals presently has an average rating of "Moderate Buy" and an average price target of $505.57.

Vertex Pharmaceuticals Stock Down 0.2 %

VRTX stock traded down $0.94 during trading on Tuesday, reaching $458.06. 479,929 shares of the stock were exchanged, compared to its average volume of 1,515,441. The firm's 50 day moving average is $435.39 and its 200 day moving average is $460.67. 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 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01. The firm has a market cap of $117.96 billion, a P/E ratio of -230.12, a price-to-earnings-growth ratio of 1.80 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing analysts' consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. As a group, research analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.94 EPS for the current 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.