Hancock Whitney Corp Cuts Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Hancock Whitney Corp lessened its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 43.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,527 shares of the pharmaceutical company's stock after selling 1,181 shares during the period. Hancock Whitney Corp's holdings in Vertex Pharmaceuticals were worth $615,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Advisory Resource Group raised its position in Vertex Pharmaceuticals by 3.2% in the 3rd quarter. Advisory Resource Group now owns 1,970 shares of the pharmaceutical company's stock valued at $916,000 after purchasing an additional 61 shares in the last quarter. Anchor Investment Management LLC raised its holdings in Vertex Pharmaceuticals by 1,352.3% in the third quarter. Anchor Investment Management LLC now owns 1,583 shares of the pharmaceutical company's stock valued at $736,000 after acquiring an additional 1,474 shares in the last quarter. World Investment Advisors LLC acquired a new position in Vertex Pharmaceuticals during the 3rd quarter worth approximately $24,280,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter valued at $2,187,000. Finally, Destination Wealth Management lifted its position in shares of Vertex Pharmaceuticals by 4.5% during the 3rd quarter. Destination Wealth Management now owns 3,361 shares of the pharmaceutical company's stock worth $1,563,000 after purchasing an additional 144 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company's stock.

Insider Transactions at Vertex Pharmaceuticals

In other news, EVP David Altshuler sold 3,231 shares of the company's stock in a transaction 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 transaction, the executive vice president now directly owns 26,512 shares of the company's stock, valued at $13,256,000. This represents a 10.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ourania Tatsis sold 244 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total transaction of $111,034.64. Following the completion of the transaction, the executive vice president now owns 67,695 shares of the company's stock, valued at $30,805,286.70. This represents a 0.36 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 4,315 shares of company stock valued at $2,121,012. Corporate insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX opened at $493.84 on Friday. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88. The stock has a market capitalization of $126.81 billion, a P/E ratio of -224.47, a P/E/G ratio of 2.11 and a beta of 0.50. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69. The company's fifty day moving average is $489.78 and its two-hundred day moving average is $466.35.

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on VRTX shares. Truist Financial raised their price target on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Piper Sandler cut their target price on Vertex Pharmaceuticals from $535.00 to $533.00 and set an "overweight" rating on the stock in a research report on Monday, January 27th. William Blair reiterated an "outperform" rating on shares of Vertex Pharmaceuticals in a research note on Friday, January 31st. Wells Fargo & Company cut shares of Vertex Pharmaceuticals from an "overweight" rating to an "equal weight" rating and set a $460.00 price objective on the stock. in a report on Thursday, January 30th. 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 report on Tuesday, February 11th. Ten investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $514.91.

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.

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