Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by ARK Investment Management LLC

ARK Investment Management LLC lessened its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 32.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 51,099 shares of the pharmaceutical company's stock after selling 24,365 shares during the quarter. ARK Investment Management LLC's holdings in Vertex Pharmaceuticals were worth $23,765,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Northwest Investment Counselors LLC acquired a new position in Vertex Pharmaceuticals during the 3rd quarter worth $25,000. Highline Wealth Partners LLC bought a new stake in shares of Vertex Pharmaceuticals in the third quarter valued at about $27,000. GHP Investment Advisors Inc. acquired a new position in Vertex Pharmaceuticals during the second quarter worth approximately $29,000. Stephens Consulting LLC acquired a new stake in Vertex Pharmaceuticals during the second quarter worth approximately $31,000. Finally, Founders Capital Management raised its position in Vertex Pharmaceuticals by 50.0% during the 2nd quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company's stock worth $35,000 after purchasing an additional 25 shares during the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on VRTX shares. Oppenheimer reduced their price objective on shares of Vertex Pharmaceuticals from $550.00 to $540.00 and set an "outperform" rating for the company in a research note on Wednesday, October 30th. Morgan Stanley lifted their price target on shares of Vertex Pharmaceuticals from $473.00 to $476.00 and gave the company an "equal weight" rating in a report on Tuesday. Barclays cut shares of Vertex Pharmaceuticals from an "overweight" rating to an "equal weight" rating and boosted their price objective for the company from $472.00 to $509.00 in a research report on Monday, August 5th. HC Wainwright restated a "buy" rating and set a $600.00 price target on shares of Vertex Pharmaceuticals in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. decreased their price target on shares of Vertex Pharmaceuticals from $510.00 to $503.00 and set an "overweight" rating on the stock in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and eighteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $495.96.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ VRTX traded up $14.29 during mid-day trading on Friday, hitting $516.74. The company had a trading volume of 1,259,332 shares, compared to its average volume of 1,171,674. Vertex Pharmaceuticals Incorporated has a 12 month low of $341.90 and a 12 month high of $519.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.26. The stock has a market cap of $133.08 billion, a price-to-earnings ratio of -259.67 and a beta of 0.39. The firm's 50 day simple moving average is $475.40 and its two-hundred day simple moving average is $468.01.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, beating the consensus estimate of $3.61 by $0.77. The firm had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The company's revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.67 EPS. As a group, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post -2.04 earnings per share for the current year.

Insider Activity

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 3,784 shares of the business's stock in a transaction on Friday, August 30th. The shares were sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the sale, the chairman now owns 9,994 shares of the company's stock, valued at approximately $4,987,006. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $500.00, for a total transaction of $323,000.00. Following the completion of the transaction, the director now directly owns 4,435 shares of the company's stock, valued at $2,217,500. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the business's stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the transaction, the chairman now directly owns 9,994 shares of the company's stock, valued at $4,987,006. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals Company 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.