Intech Investment Management LLC Has $8.24 Million Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Intech Investment Management LLC reduced its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 7.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,713 shares of the pharmaceutical company's stock after selling 1,489 shares during the quarter. Intech Investment Management LLC's holdings in Vertex Pharmaceuticals were worth $8,238,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Cornerstone Advisors LLC grew its position in shares of Vertex Pharmaceuticals by 6.6% in the 3rd quarter. Cornerstone Advisors LLC now owns 13,000 shares of the pharmaceutical company's stock valued at $6,046,000 after purchasing an additional 800 shares during the period. Moran Wealth Management LLC grew its position in shares of Vertex Pharmaceuticals by 1.6% in the 3rd quarter. Moran Wealth Management LLC now owns 29,078 shares of the pharmaceutical company's stock valued at $13,524,000 after purchasing an additional 459 shares during the period. EagleClaw Capital Managment LLC grew its position in shares of Vertex Pharmaceuticals by 2.7% in the 3rd quarter. EagleClaw Capital Managment LLC now owns 7,625 shares of the pharmaceutical company's stock valued at $3,546,000 after purchasing an additional 200 shares during the period. Grandfield & Dodd LLC grew its position in shares of Vertex Pharmaceuticals by 21.9% in the 3rd quarter. Grandfield & Dodd LLC now owns 14,144 shares of the pharmaceutical company's stock valued at $6,578,000 after purchasing an additional 2,538 shares during the period. Finally, Portfolio Design Labs LLC grew its position in shares of Vertex Pharmaceuticals by 123.0% in the 3rd quarter. Portfolio Design Labs LLC now owns 4,579 shares of the pharmaceutical company's stock valued at $2,130,000 after purchasing an additional 2,526 shares during the period. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Sangeeta N. Bhatia sold 646 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director now owns 4,435 shares of the company's stock, valued at $2,217,500. This represents a 12.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the chairman now directly owns 9,994 shares of the company's stock, valued at $4,987,006. This represents a 27.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,445 shares of company stock valued at $2,218,394 over the last quarter. 0.20% of the stock is owned by company insiders.

Vertex Pharmaceuticals Price Performance

VRTX traded up $0.60 on Friday, hitting $450.97. 1,270,362 shares of the stock were exchanged, compared to its average volume of 1,187,651. Vertex Pharmaceuticals Incorporated has a 12 month low of $346.29 and a 12 month high of $519.88. The business has a 50-day moving average of $474.80 and a two-hundred day moving average of $472.58. 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 (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, topping the consensus estimate of $3.61 by $0.77. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The business had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.69 billion. During the same quarter in the prior year, the business posted $3.67 earnings per share. Vertex Pharmaceuticals's revenue was up 11.6% compared to the same quarter last year. As a group, research analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.82 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on VRTX. Oppenheimer decreased their price objective on Vertex Pharmaceuticals from $550.00 to $540.00 and set an "outperform" rating for the company in a research report on Wednesday, October 30th. StockNews.com downgraded Vertex Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Thursday. Canaccord Genuity Group upped their price target on Vertex Pharmaceuticals from $361.00 to $408.00 and gave the stock a "sell" rating in a research report on Wednesday, November 6th. HC Wainwright reaffirmed a "buy" rating and set a $600.00 price target on shares of Vertex Pharmaceuticals in a research report on Monday, October 21st. Finally, Truist Financial reaffirmed a "buy" rating and set a $550.00 price target (up previously from $508.00) on shares of Vertex Pharmaceuticals in a research report on Monday, August 5th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus target price of $499.12.

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.