Nomura Asset Management Co. Ltd. Sells 5,095 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Nomura Asset Management Co. Ltd. lowered its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 3.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 149,799 shares of the pharmaceutical company's stock after selling 5,095 shares during the period. Nomura Asset Management Co. Ltd. owned 0.06% of Vertex Pharmaceuticals worth $60,324,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Dunhill Financial LLC boosted its stake in Vertex Pharmaceuticals by 70.6% in the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company's stock worth $27,000 after purchasing an additional 24 shares in the last quarter. Brown Lisle Cummings Inc. bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at about $30,000. Legacy Investment Solutions LLC acquired a new position in Vertex Pharmaceuticals during the 3rd quarter worth about $33,000. Sugar Maple Asset Management LLC bought a new stake in Vertex Pharmaceuticals during the 4th quarter worth about $35,000. Finally, Golden State Wealth Management LLC acquired a new stake in Vertex Pharmaceuticals in the 4th quarter valued at about $37,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP David Altshuler sold 3,231 shares of Vertex Pharmaceuticals stock in a transaction 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 of the company's stock, valued at $13,256,000. The trade was a 10.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ourania Tatsis sold 310 shares of the company's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $459.83, for a total value of $142,547.30. Following the sale, the executive vice president now owns 64,021 shares of the company's stock, valued at approximately $29,438,776.43. This represents a 0.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,315 shares of company stock valued at $2,121,012 in the last quarter. 0.20% of the stock is currently owned by insiders.

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Vertex Pharmaceuticals Stock Down 1.6 %

Shares of Vertex Pharmaceuticals stock traded down $7.87 on Monday, hitting $484.82. The company had a trading volume of 2,231,804 shares, compared to its average volume of 1,279,345. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35. The stock has a 50-day moving average of $476.45 and a 200-day moving average of $463.64. The firm has a market capitalization of $124.50 billion, a P/E ratio of -220.37, a P/E/G ratio of 2.11 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) 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%. Research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Analysts Set New Price Targets

VRTX has been the topic of several research analyst reports. Jefferies Financial Group raised shares of Vertex Pharmaceuticals from a "hold" rating to a "buy" rating and increased their price target for the company from $500.00 to $550.00 in a research note on Monday, December 9th. BMO Capital Markets set a $545.00 target price on Vertex Pharmaceuticals in a research note on Friday, January 31st. Canaccord Genuity Group upgraded Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and boosted their target price for the stock from $408.00 to $424.00 in a research report on Tuesday, February 11th. Stifel Nicolaus raised their price target on Vertex Pharmaceuticals from $490.00 to $494.00 and gave the company a "hold" rating in a report on Monday, December 16th. Finally, HC Wainwright reissued a "buy" rating and set a $550.00 price objective on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Ten investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Vertex Pharmaceuticals has an average rating of "Moderate Buy" and a consensus target price of $508.65.

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.