Assetmark Inc. Has $94.91 Million Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Assetmark Inc. trimmed its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 46.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 204,071 shares of the pharmaceutical company's stock after selling 176,283 shares during the quarter. Assetmark Inc. owned 0.08% of Vertex Pharmaceuticals worth $94,909,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Creative Planning raised its position in Vertex Pharmaceuticals by 5.3% in the 2nd quarter. Creative Planning now owns 79,117 shares of the pharmaceutical company's stock worth $37,084,000 after purchasing an additional 3,998 shares during the last quarter. Blue Trust Inc. raised its position in shares of Vertex Pharmaceuticals by 640.0% during the 2nd quarter. Blue Trust Inc. now owns 1,443 shares of the pharmaceutical company's stock valued at $676,000 after acquiring an additional 1,248 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter valued at $74,213,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter valued at $21,008,000. Finally, Canada Pension Plan Investment Board raised its position in shares of Vertex Pharmaceuticals by 8.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 386,648 shares of the pharmaceutical company's stock valued at $161,623,000 after acquiring an additional 28,747 shares during the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Vertex Pharmaceuticals

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

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock traded up $14.29 on Friday, reaching $516.74. The stock had a trading volume of 1,259,505 shares, compared to its average volume of 1,171,674. The company has a quick ratio of 2.26, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. The firm's 50-day moving average is $475.40 and its two-hundred day moving average is $468.01. The firm has a market capitalization of $133.08 billion, a price-to-earnings ratio of -259.67 and a beta of 0.39. Vertex Pharmaceuticals Incorporated has a 12 month low of $341.90 and a 12 month high of $519.88.

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

Analyst Ratings Changes

Several analysts have commented on the stock. UBS Group upped their target price on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a "buy" rating in a research report on Tuesday. Barclays cut shares of Vertex Pharmaceuticals from an "overweight" rating to an "equal weight" rating and upped their target price for the company from $472.00 to $509.00 in a research report on Monday, August 5th. Bank of America dropped their target price on shares of Vertex Pharmaceuticals from $550.00 to $541.00 and set a "buy" rating for the company in a research report on Monday, October 14th. Canaccord Genuity Group upped their price objective on shares of Vertex Pharmaceuticals from $361.00 to $408.00 and gave the company a "sell" rating in a research report on Wednesday. Finally, Piper Sandler upped their price objective on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an "overweight" rating in a research report on Friday, August 2nd. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $495.96.

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.