Fmr LLC Sells 1,305,967 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

FMR LLC cut its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 12.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,219,046 shares of the pharmaceutical company's stock after selling 1,305,967 shares during the quarter. FMR LLC owned about 3.58% of Vertex Pharmaceuticals worth $3,712,510,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of VRTX. Norges Bank acquired a new position in Vertex Pharmaceuticals during the 4th quarter valued at $1,374,948,000. Parnassus Investments LLC bought a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth about $731,283,000. Edgewood Management LLC raised its position in shares of Vertex Pharmaceuticals by 91.2% during the fourth quarter. Edgewood Management LLC now owns 2,956,608 shares of the pharmaceutical company's stock valued at $1,190,626,000 after buying an additional 1,410,238 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Vertex Pharmaceuticals by 23.3% in the fourth quarter. Wellington Management Group LLP now owns 5,916,084 shares of the pharmaceutical company's stock valued at $2,382,407,000 after buying an additional 1,117,214 shares during the period. Finally, WCM Investment Management LLC acquired a new stake in Vertex Pharmaceuticals during the fourth quarter worth about $435,899,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, EVP David Altshuler sold 3,231 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the completion of the sale, the executive vice president now directly owns 26,512 shares of the company's stock, valued at $13,256,000. The trade was a 10.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Ourania Tatsis sold 530 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $475.34, for a total transaction of $251,930.20. Following the completion of the transaction, the executive vice president now directly owns 58,539 shares in the company, valued at approximately $27,825,928.26. The trade was a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,315 shares of company stock worth $2,121,012. Company insiders own 0.20% of the company's stock.

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Vertex Pharmaceuticals Trading Up 1.8 %

NASDAQ:VRTX traded up $8.43 during trading hours on Friday, hitting $483.92. 591,685 shares of the stock were exchanged, compared to its average volume of 1,320,731. The company has a market capitalization of $124.27 billion, a P/E ratio of -218.47, a price-to-earnings-growth ratio of 2.11 and a beta of 0.50. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01. The company's 50 day moving average is $484.80 and its two-hundred day moving average is $464.12. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its earnings results 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 return on equity of 2.02% and a negative net margin of 4.86%. On average, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on VRTX. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $480.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Scotiabank raised their target price on Vertex Pharmaceuticals from $433.00 to $450.00 and gave the stock a "sector perform" rating in a research report on Tuesday, February 11th. Truist Financial boosted 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. JPMorgan Chase & Co. reduced their price objective on shares of Vertex Pharmaceuticals from $503.00 to $500.00 and set an "overweight" rating for the company in a report on Monday, December 23rd. Finally, Morgan Stanley upped their target price on shares of Vertex Pharmaceuticals from $450.00 to $459.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 11th. Ten equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $509.17.

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.