Burney Co. Sells 8,394 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Burney Co. lowered its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 18.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,767 shares of the pharmaceutical company's stock after selling 8,394 shares during the period. Burney Co.'s holdings in Vertex Pharmaceuticals were worth $15,209,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in VRTX. Edgewood Management LLC raised its position in Vertex Pharmaceuticals by 7,876.3% during the third quarter. Edgewood Management LLC now owns 1,546,370 shares of the pharmaceutical company's stock worth $719,186,000 after acquiring an additional 1,526,983 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Vertex Pharmaceuticals by 18.1% in the 3rd quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company's stock valued at $2,581,373,000 after purchasing an additional 851,054 shares during the period. Wellington Management Group LLP lifted its stake in Vertex Pharmaceuticals by 17.2% in the 3rd quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company's stock valued at $2,231,858,000 after purchasing an additional 704,421 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Vertex Pharmaceuticals by 169.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 839,672 shares of the pharmaceutical company's stock worth $338,136,000 after purchasing an additional 528,029 shares during the period. Finally, International Assets Investment Management LLC increased its position in Vertex Pharmaceuticals by 74,015.5% during the third quarter. International Assets Investment Management LLC now owns 324,626 shares of the pharmaceutical company's stock worth $150,977,000 after buying an additional 324,188 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company's stock.

Analyst Upgrades and Downgrades

VRTX has been the subject of several research analyst reports. William Blair reiterated an "outperform" rating on shares of Vertex Pharmaceuticals in a research note on Monday. UBS Group upped their price objective on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Truist Financial dropped their price objective on shares of Vertex Pharmaceuticals from $550.00 to $460.00 and set a "buy" rating on the stock in a research report on Monday, December 23rd. Jefferies Financial Group upgraded shares of Vertex Pharmaceuticals from a "hold" rating to a "buy" rating and upped their price target for the company from $500.00 to $550.00 in a research note on Monday, December 9th. Finally, Barclays cut their price objective on shares of Vertex Pharmaceuticals from $509.00 to $418.00 and set an "equal weight" rating for the company in a research report on Friday, December 20th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $490.38.

Vertex Pharmaceuticals Trading Up 3.1 %

Shares of VRTX traded up $12.60 during trading hours on Wednesday, hitting $424.26. 1,651,993 shares of the stock were exchanged, compared to its average volume of 1,552,070. The firm has a market capitalization of $109.26 billion, a P/E ratio of -213.20 and a beta of 0.40. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The business has a 50-day moving average of $445.93 and a 200-day moving average of $467.13.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, topping the consensus estimate of $3.61 by $0.77. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same period last year, the company posted $3.67 EPS. The business's quarterly revenue was up 11.6% on a year-over-year basis. On average, research analysts expect that Vertex Pharmaceuticals Incorporated will post -1.83 EPS for the current year.

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.