Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by International Assets Investment Management LLC

International Assets Investment Management LLC lessened its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 99.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 636 shares of the pharmaceutical company's stock after selling 323,990 shares during the quarter. International Assets Investment Management LLC's holdings in Vertex Pharmaceuticals were worth $258,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of VRTX. One Wealth Capital Management LLC purchased a new stake in Vertex Pharmaceuticals in the 4th quarter worth approximately $250,000. Nordea Investment Management AB increased its holdings in Vertex Pharmaceuticals by 19.4% in the fourth quarter. Nordea Investment Management AB now owns 342,429 shares of the pharmaceutical company's stock valued at $137,783,000 after buying an additional 55,739 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Vertex Pharmaceuticals by 2.2% in the fourth quarter. GAMMA Investing LLC now owns 3,997 shares of the pharmaceutical company's stock worth $1,610,000 after acquiring an additional 87 shares during the period. Versant Capital Management Inc lifted its position in shares of Vertex Pharmaceuticals by 105.0% during the 4th quarter. Versant Capital Management Inc now owns 330 shares of the pharmaceutical company's stock valued at $133,000 after buying an additional 169 shares in the last quarter. Finally, SK Wealth Management LLC purchased a new stake in Vertex Pharmaceuticals in the 3rd quarter worth $678,000. Hedge funds and other institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Down 0.8 %

Vertex Pharmaceuticals stock traded down $3.45 during midday trading on Monday, reaching $406.11. The company's stock had a trading volume of 311,837 shares, compared to its average volume of 1,338,311. The company has a market cap of $104.59 billion, a P/E ratio of -204.08 and a beta of 0.40. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. The business has a 50-day simple moving average of $448.88 and a 200-day simple moving average of $467.95. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its earnings results 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. The firm had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The firm's revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.67 earnings per share. On average, research analysts expect that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on VRTX. BMO Capital Markets dropped their target price on shares of Vertex Pharmaceuticals from $566.00 to $520.00 and set an "outperform" rating on the stock in a research report on Friday, December 20th. Royal Bank of Canada boosted 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. JPMorgan Chase & Co. decreased their price objective on Vertex Pharmaceuticals from $503.00 to $500.00 and set an "overweight" rating on the stock in a report on Monday, December 23rd. Truist Financial cut their price target on Vertex Pharmaceuticals from $550.00 to $460.00 and set a "buy" rating for the company in a report on Monday, December 23rd. Finally, Stifel Nicolaus boosted their price objective on Vertex Pharmaceuticals from $490.00 to $494.00 and gave the stock a "hold" rating in a research note on Monday, December 16th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $490.38.

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.