Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Kessler Investment Group LLC

Kessler Investment Group LLC lowered its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 90.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,373 shares of the pharmaceutical company's stock after selling 12,397 shares during the quarter. Kessler Investment Group LLC's holdings in Vertex Pharmaceuticals were worth $553,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Northwest Investment Counselors LLC bought a new position in Vertex Pharmaceuticals in the third quarter worth approximately $25,000. Highline Wealth Partners LLC bought a new position in shares of Vertex Pharmaceuticals in the 3rd quarter worth $27,000. Dunhill Financial LLC lifted its stake in shares of Vertex Pharmaceuticals by 70.6% during the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company's stock worth $27,000 after purchasing an additional 24 shares during the last quarter. Brown Lisle Cummings Inc. bought a new stake in Vertex Pharmaceuticals during the fourth quarter valued at about $30,000. Finally, Legacy Investment Solutions LLC purchased a new position in Vertex Pharmaceuticals in the third quarter valued at about $33,000. Hedge funds and other institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX traded up $9.65 during mid-day trading on Wednesday, reaching $471.76. 1,454,541 shares of the stock were exchanged, compared to its average volume of 1,543,211. The company has a market capitalization of $121.14 billion, a P/E ratio of -214.44, a P/E/G ratio of 2.02 and a beta of 0.41. 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 business's 50 day moving average is $435.32 and its 200-day moving average is $460.52. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its 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, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on VRTX shares. Cantor Fitzgerald restated an "overweight" rating and issued a $480.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. JPMorgan Chase & Co. cut their price target on shares of 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 increased their price objective on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Needham & Company LLC reaffirmed a "hold" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Finally, Piper Sandler lowered their price target on Vertex Pharmaceuticals from $535.00 to $533.00 and set an "overweight" rating for the company in a report on Monday, January 27th. Eleven analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $505.57.

Insider Buying and Selling at Vertex Pharmaceuticals

In other 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 transaction of $111,034.64. Following the transaction, the executive vice president now owns 67,695 shares in the company, valued at $30,805,286.70. This trade represents a 0.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.20% of the stock is owned by corporate insiders.

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.