Mitsubishi UFJ Trust & Banking Corp Cuts Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Mitsubishi UFJ Trust & Banking Corp reduced its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 7.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 171,606 shares of the pharmaceutical company's stock after selling 13,507 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.07% of Vertex Pharmaceuticals worth $69,106,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Dunhill Financial LLC grew its stake in shares of Vertex Pharmaceuticals by 70.6% during the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company's stock worth $27,000 after buying an additional 24 shares during the last quarter. Legacy Investment Solutions LLC bought a new stake in Vertex Pharmaceuticals during the 3rd quarter worth $33,000. Brown Lisle Cummings Inc. acquired a new position in Vertex Pharmaceuticals in the 4th quarter worth about $30,000. Truvestments Capital LLC bought a new position in Vertex Pharmaceuticals in the third quarter valued at about $35,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in shares of Vertex Pharmaceuticals during the fourth quarter valued at about $35,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Performance

Vertex Pharmaceuticals stock traded down $9.86 during mid-day trading on Friday, reaching $492.69. 1,280,587 shares of the company's stock were exchanged, compared to its average volume of 1,275,535. The firm has a market capitalization of $126.52 billion, a PE ratio of -223.95, a P/E/G ratio of 2.11 and a beta of 0.41. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01. The business's fifty day simple moving average is $476.45 and its 200 day simple moving average is $463.71. Vertex Pharmaceuticals Incorporated has a one year low of $377.85 and a one year high of $519.88.

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Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing analysts' consensus estimates 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 expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, EVP David Altshuler sold 3,231 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the completion of the transaction, the executive vice president now owns 26,512 shares of the company's stock, valued at $13,256,000. The trade was a 10.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Ourania Tatsis sold 244 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total transaction of $111,034.64. Following the completion of the sale, the executive vice president now directly owns 67,695 shares in the company, valued at approximately $30,805,286.70. The trade was a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,315 shares of company stock worth $2,121,012 over the last quarter. 0.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

VRTX has been the subject of a number of research reports. Scotiabank raised their price objective on shares of Vertex Pharmaceuticals from $433.00 to $450.00 and gave the company a "sector perform" rating in a report on Tuesday, February 11th. Morgan Stanley lifted their price target on shares of Vertex Pharmaceuticals from $450.00 to $459.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 11th. William Blair restated an "outperform" rating on shares of Vertex Pharmaceuticals in a report on Friday, January 31st. Piper Sandler lowered their target price on Vertex Pharmaceuticals from $535.00 to $533.00 and set an "overweight" rating for the company in a research report on Monday, January 27th. Finally, JPMorgan Chase & Co. reduced their price target on Vertex Pharmaceuticals from $503.00 to $500.00 and set an "overweight" rating on the stock in a research report on Monday, December 23rd. Ten analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Vertex Pharmaceuticals has an average rating of "Moderate Buy" and a consensus target price of $506.70.

Vertex Pharmaceuticals 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.