Congress Asset Management Co. Lowers Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Congress Asset Management Co. lowered its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 22.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 147,149 shares of the pharmaceutical company's stock after selling 41,431 shares during the period. Congress Asset Management Co. owned approximately 0.06% of Vertex Pharmaceuticals worth $59,257,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. ABC Arbitrage SA purchased a new stake in Vertex Pharmaceuticals in the fourth quarter valued at approximately $1,510,000. Czech National Bank boosted its position in Vertex Pharmaceuticals by 6.2% in the fourth quarter. Czech National Bank now owns 55,838 shares of the pharmaceutical company's stock valued at $22,486,000 after buying an additional 3,260 shares during the last quarter. Whalen Wealth Management Inc. purchased a new stake in Vertex Pharmaceuticals in the third quarter valued at approximately $662,000. Concord Wealth Partners boosted its position in Vertex Pharmaceuticals by 32.6% in the fourth quarter. Concord Wealth Partners now owns 3,508 shares of the pharmaceutical company's stock valued at $1,413,000 after buying an additional 862 shares during the last quarter. Finally, Mizuho Securities USA LLC lifted its holdings in Vertex Pharmaceuticals by 289.0% in the third quarter. Mizuho Securities USA LLC now owns 77,393 shares of the pharmaceutical company's stock valued at $35,994,000 after acquiring an additional 57,497 shares during the period. Hedge funds and other institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Price Performance

NASDAQ VRTX traded up $9.65 during mid-day trading on Wednesday, hitting $471.76. The stock had a trading volume of 1,453,556 shares, compared to its average volume of 1,540,653. The firm's 50 day moving average is $435.25 and its 200 day moving average is $460.44. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35. The stock has a market capitalization of $121.14 billion, a price-to-earnings ratio of -214.44, a PEG ratio of 2.02 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on VRTX shares. Royal Bank of Canada boosted their price target on Vertex Pharmaceuticals from $402.00 to $407.00 and gave the company a "sector perform" rating in a report on Tuesday, February 11th. Piper Sandler decreased their price target on Vertex Pharmaceuticals from $535.00 to $533.00 and set an "overweight" rating for the company in a report on Monday, January 27th. UBS Group boosted their price target on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Cantor Fitzgerald reissued an "overweight" rating and issued a $480.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Finally, Scotiabank boosted their price target on Vertex Pharmaceuticals from $433.00 to $450.00 and gave the company a "sector perform" rating 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 stock. Based on data from MarketBeat, Vertex Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus target price of $505.57.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 310 shares of the company's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $459.83, for a total value of $142,547.30. Following the completion of the sale, the executive vice president now directly owns 64,021 shares in the company, valued at $29,438,776.43. This represents a 0.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by company 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.