IHT Wealth Management LLC Cuts Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

IHT Wealth Management LLC decreased its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 29.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,784 shares of the pharmaceutical company's stock after selling 747 shares during the period. IHT Wealth Management LLC's holdings in Vertex Pharmaceuticals were worth $718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of VRTX. Brown Lisle Cummings Inc. purchased a new position in shares of Vertex Pharmaceuticals during the 4th quarter valued at about $30,000. Sugar Maple Asset Management LLC purchased a new position in Vertex Pharmaceuticals during the fourth quarter valued at approximately $35,000. Golden State Wealth Management LLC bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth approximately $37,000. Truvestments Capital LLC increased its stake in shares of Vertex Pharmaceuticals by 30.3% in the fourth quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock worth $40,000 after purchasing an additional 23 shares in the last quarter. Finally, ORG Partners LLC increased its stake in shares of Vertex Pharmaceuticals by 108.2% in the fourth quarter. ORG Partners LLC now owns 102 shares of the pharmaceutical company's stock worth $41,000 after purchasing an additional 53 shares in the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Ourania Tatsis sold 244 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total value of $111,034.64. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David Altshuler sold 3,231 shares of Vertex Pharmaceuticals stock in a transaction on Monday, March 10th. The shares were sold at an average price of $500.00, for a total value of $1,615,500.00. Following the sale, the executive vice president now directly owns 26,512 shares of the company's stock, valued at approximately $13,256,000. This trade represents a 10.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,315 shares of company stock worth $2,121,012 in the last three months. Corporate insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Trading Up 0.5 %

Shares of VRTX stock traded up $2.65 on Monday, reaching $496.49. 1,503,332 shares of the company's stock were exchanged, compared to its average volume of 1,338,044. The company's fifty day simple moving average is $489.78 and its 200 day simple moving average is $466.28. Vertex Pharmaceuticals Incorporated has a 52 week low of $377.85 and a 52 week high of $519.88. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $127.49 billion, a PE ratio of -225.68, a P/E/G ratio of 2.11 and a beta of 0.50.

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 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%. As a group, analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on VRTX shares. Piper Sandler dropped their target price on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an "overweight" rating for the company in a report on Monday, January 27th. StockNews.com upgraded Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Tuesday, March 11th. Royal Bank of Canada boosted their price target on Vertex Pharmaceuticals from $408.00 to $420.00 and gave the stock a "sector perform" rating in a report on Tuesday, April 1st. Morgan Stanley increased their price objective 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. Finally, Bank of America boosted their target price on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the stock a "buy" rating in a report on Monday, March 31st. Ten analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $514.91.

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.