Monetary Management Group Inc. Decreases Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Monetary Management Group Inc. trimmed its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 48.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 605 shares of the pharmaceutical company's stock after selling 565 shares during the period. Monetary Management Group Inc.'s holdings in Vertex Pharmaceuticals were worth $244,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. ABC Arbitrage SA purchased a new position in Vertex Pharmaceuticals during the 4th quarter valued at $1,510,000. Czech National Bank boosted its position in Vertex Pharmaceuticals by 6.2% in the 4th quarter. Czech National Bank now owns 55,838 shares of the pharmaceutical company's stock valued at $22,486,000 after buying an additional 3,260 shares during the period. Highview Capital Management LLC DE grew its stake in Vertex Pharmaceuticals by 1.8% in the 4th quarter. Highview Capital Management LLC DE now owns 5,771 shares of the pharmaceutical company's stock worth $2,324,000 after acquiring an additional 102 shares in the last quarter. Davidson Investment Advisors increased its position in shares of Vertex Pharmaceuticals by 26.0% during the fourth quarter. Davidson Investment Advisors now owns 61,161 shares of the pharmaceutical company's stock worth $24,630,000 after acquiring an additional 12,631 shares during the period. Finally, Jones Financial Companies Lllp raised its stake in shares of Vertex Pharmaceuticals by 75.5% during the fourth quarter. Jones Financial Companies Lllp now owns 2,468 shares of the pharmaceutical company's stock valued at $994,000 after acquiring an additional 1,062 shares in the last quarter. Institutional investors own 90.96% of the company's stock.

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Vertex Pharmaceuticals Price Performance

NASDAQ:VRTX traded up $11.61 during trading hours on Monday, reaching $495.83. 1,362,217 shares of the company were exchanged, compared to its average volume of 1,326,199. 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 firm has a market cap of $127.32 billion, a PE ratio of -225.38, a price-to-earnings-growth ratio of 2.11 and a beta of 0.50. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88. The stock's 50-day moving average is $484.84 and its 200-day moving average is $464.28.

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 net margin of 4.86% and a negative return on equity of 2.02%. On average, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

VRTX has been the subject of a number of research analyst reports. Truist Financial lifted their target price on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. Canaccord Genuity Group raised shares of Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and upped their price objective for the stock from $408.00 to $424.00 in a research note on Tuesday, February 11th. Stifel Nicolaus raised their target price on shares of Vertex Pharmaceuticals from $490.00 to $494.00 and gave the company a "hold" rating in a research report on Monday, December 16th. HC Wainwright reaffirmed a "buy" rating and issued a $550.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $480.00 price objective on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Ten equities research 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's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $512.41.

Insider Activity at Vertex Pharmaceuticals

In related news, EVP David Altshuler sold 3,231 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $500.00, for a total value of $1,615,500.00. Following the completion of the transaction, the executive vice president now directly owns 26,512 shares in the company, valued at approximately $13,256,000. This represents a 10.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Ourania Tatsis sold 244 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total value of $111,034.64. Following the completion of the transaction, the executive vice president now directly owns 67,695 shares in the company, valued at approximately $30,805,286.70. This trade represents a 0.36 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,315 shares of company stock valued at $2,121,012. Corporate insiders own 0.20% of the company's stock.

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.