Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC trimmed its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 63.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,052 shares of the pharmaceutical company's stock after selling 1,798 shares during the quarter. Axxcess Wealth Management LLC's holdings in Vertex Pharmaceuticals were worth $424,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dunhill Financial LLC raised its position in shares of Vertex Pharmaceuticals by 70.6% during the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company's stock valued at $27,000 after purchasing an additional 24 shares during the period. Brown Lisle Cummings Inc. bought a new stake in Vertex Pharmaceuticals during the fourth quarter valued at about $30,000. Legacy Investment Solutions LLC purchased a new position in shares of Vertex Pharmaceuticals in the third quarter valued at about $33,000. Truvestments Capital LLC bought a new position in shares of Vertex Pharmaceuticals in the third quarter worth about $35,000. Finally, Sugar Maple Asset Management LLC bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth about $35,000. Institutional investors own 90.96% of the company's stock.

Wall Street Analysts Forecast Growth

VRTX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lowered their price target on Vertex Pharmaceuticals from $503.00 to $500.00 and set an "overweight" rating on the stock in a report on Monday, December 23rd. Wells Fargo & Company lowered shares of Vertex Pharmaceuticals from an "overweight" rating to an "equal weight" rating and set a $460.00 target price for the company. in a research report on Thursday, January 30th. Truist Financial lifted their price target on shares of Vertex Pharmaceuticals from $460.00 to $520.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Canaccord Genuity Group raised shares of Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and increased their price objective for the company from $408.00 to $424.00 in a report on Tuesday, February 11th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $550.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Ten investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus target price of $506.70.

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Vertex Pharmaceuticals Stock Down 1.7 %

NASDAQ VRTX traded down $8.76 during midday trading on Wednesday, hitting $500.28. 1,328,281 shares of the company traded hands, compared to its average volume of 1,221,422. Vertex Pharmaceuticals Incorporated has a 52 week low of $377.85 and a 52 week high of $519.88. The company's 50-day simple moving average is $471.81 and its 200-day simple moving average is $463.08. The company has a market cap of $128.47 billion, a PE ratio of -227.40, a price-to-earnings-growth ratio of 2.11 and a beta of 0.41. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings data 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 net margin of 4.86% and a negative return on equity of 2.02%. As a group, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP David Altshuler sold 3,231 shares of the business's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the transaction, the executive vice president now directly owns 26,512 shares in the company, valued at $13,256,000. The trade was a 10.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $111,034.64. Following the completion of the sale, the executive vice president now owns 67,695 shares of the company's stock, valued at approximately $30,805,286.70. This trade represents a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,315 shares of company stock worth $2,121,012 in the last 90 days. 0.20% of the stock is owned by corporate insiders.

About Vertex Pharmaceuticals

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.