EULAV Asset Management Cuts Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

EULAV Asset Management lessened its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 12.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,500 shares of the pharmaceutical company's stock after selling 4,500 shares during the period. EULAV Asset Management's holdings in Vertex Pharmaceuticals were worth $14,650,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of VRTX. Groesbeck Investment Management Corp NJ raised its holdings in Vertex Pharmaceuticals by 1.2% in the 2nd quarter. Groesbeck Investment Management Corp NJ now owns 1,794 shares of the pharmaceutical company's stock worth $841,000 after purchasing an additional 21 shares in the last quarter. Mutual Advisors LLC lifted its holdings in Vertex Pharmaceuticals by 0.6% in the third quarter. Mutual Advisors LLC now owns 3,710 shares of the pharmaceutical company's stock worth $1,751,000 after buying an additional 21 shares during the period. Institute for Wealth Management LLC. boosted its position in Vertex Pharmaceuticals by 0.6% during the 2nd quarter. Institute for Wealth Management LLC. now owns 3,586 shares of the pharmaceutical company's stock valued at $1,681,000 after acquiring an additional 22 shares in the last quarter. Drive Wealth Management LLC grew its holdings in shares of Vertex Pharmaceuticals by 2.0% during the 2nd quarter. Drive Wealth Management LLC now owns 1,101 shares of the pharmaceutical company's stock worth $516,000 after acquiring an additional 22 shares during the period. Finally, Daymark Wealth Partners LLC boosted its position in shares of Vertex Pharmaceuticals by 2.8% during the third quarter. Daymark Wealth Partners LLC now owns 804 shares of the pharmaceutical company's stock valued at $374,000 after purchasing an additional 22 shares in the last quarter. Institutional investors own 90.96% of the company's stock.

Analyst Upgrades and Downgrades

VRTX has been the subject of several recent research reports. Truist Financial reissued a "buy" rating and set a $550.00 price objective (up previously from $508.00) on shares of Vertex Pharmaceuticals in a research report on Monday, August 5th. Oppenheimer cut their price objective on shares of Vertex Pharmaceuticals from $550.00 to $540.00 and set an "outperform" rating on the stock in a report on Wednesday, October 30th. Scotiabank lifted their target price on shares of Vertex Pharmaceuticals from $480.00 to $486.00 and gave the company a "sector perform" rating in a report on Tuesday, November 5th. Cantor Fitzgerald reiterated an "overweight" rating and set a $480.00 price objective on shares of Vertex Pharmaceuticals in a research note on Tuesday, November 5th. Finally, TD Cowen increased their target price on Vertex Pharmaceuticals from $450.00 to $500.00 and gave the stock a "buy" rating in a research note on Tuesday, July 23rd. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $499.12.

Insider Activity

In related news, Director Sangeeta N. Bhatia sold 646 shares of the company's stock in a transaction on Friday, August 30th. The stock was 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 12.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the firm's stock in a transaction on Friday, August 30th. The stock was sold at an average price of $499.00, for a total value 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 27.46 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,445 shares of company stock worth $2,218,394. Corporate insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Stock Up 0.7 %

Vertex Pharmaceuticals stock traded up $3.22 during midday trading on Wednesday, reaching $451.23. The stock had a trading volume of 1,642,925 shares, compared to its average volume of 1,185,861. Vertex Pharmaceuticals Incorporated has a 52-week low of $346.29 and a 52-week high of $519.88. The company has a fifty day moving average of $475.85 and a 200 day moving average of $472.89. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.61 by $0.77. The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. Vertex Pharmaceuticals's quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the company earned $3.67 EPS. Equities analysts predict that Vertex Pharmaceuticals Incorporated will post -1.82 earnings per share for the current year.

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.