Fmr LLC Lowers Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

FMR LLC lowered its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 1.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,525,013 shares of the pharmaceutical company's stock after selling 204,415 shares during the quarter. FMR LLC owned about 4.09% of Vertex Pharmaceuticals worth $4,894,973,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in VRTX. Northwest Investment Counselors LLC bought a new stake in Vertex Pharmaceuticals during the 3rd quarter valued at approximately $25,000. Highline Wealth Partners LLC bought a new stake in Vertex Pharmaceuticals during the 3rd quarter valued at approximately $27,000. GHP Investment Advisors Inc. bought a new stake in Vertex Pharmaceuticals during the 2nd quarter valued at approximately $29,000. Stephens Consulting LLC bought a new stake in Vertex Pharmaceuticals in the 2nd quarter worth approximately $31,000. Finally, Founders Capital Management increased its stake in Vertex Pharmaceuticals by 50.0% in the 2nd quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company's stock worth $35,000 after acquiring an additional 25 shares during the last quarter. Institutional investors own 90.96% of the company's stock.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of the business's stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $500.00, for a total transaction of $323,000.00. Following the sale, the director now owns 4,435 shares in the company, valued at approximately $2,217,500. The trade was a 12.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the business's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $499.00, for a total value of $1,888,216.00. Following the sale, the chairman now owns 9,994 shares in the company, valued at approximately $4,987,006. The trade was a 27.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,445 shares of company stock valued at $2,218,394 in the last ninety days. Corporate insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX traded up $5.36 during trading hours on Tuesday, hitting $467.07. The company had a trading volume of 1,312,768 shares, compared to its average volume of 1,190,154. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a one year low of $346.29 and a one year high of $519.88. The company's fifty day moving average price is $473.55 and its two-hundred day moving average price is $474.04.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, topping the consensus estimate 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%. The business's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company posted $3.67 EPS. Equities research analysts expect that Vertex Pharmaceuticals Incorporated will post -1.83 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on VRTX shares. Oppenheimer reduced their price objective on Vertex Pharmaceuticals from $550.00 to $540.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 30th. Royal Bank of Canada lifted their price objective on Vertex Pharmaceuticals from $437.00 to $451.00 and gave the stock a "sector perform" rating in a research note on Tuesday, November 5th. UBS Group lifted their price objective on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. Barclays downgraded Vertex Pharmaceuticals from an "overweight" rating to an "equal weight" rating and lifted their price objective for the stock from $472.00 to $509.00 in a research note on Monday, August 5th. Finally, Canaccord Genuity Group lifted their target price on Vertex Pharmaceuticals from $361.00 to $408.00 and gave the stock a "sell" rating in a report on Wednesday, November 6th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $504.38.

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.