Prosperity Consulting Group LLC Sells 661 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Prosperity Consulting Group LLC reduced its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 18.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,919 shares of the pharmaceutical company's stock after selling 661 shares during the quarter. Prosperity Consulting Group LLC's holdings in Vertex Pharmaceuticals were worth $1,175,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. ABC Arbitrage SA bought a new stake in Vertex Pharmaceuticals during the fourth quarter valued at $1,510,000. Czech National Bank boosted its position in shares of Vertex Pharmaceuticals by 6.2% during the 4th quarter. Czech National Bank now owns 55,838 shares of the pharmaceutical company's stock valued at $22,486,000 after purchasing an additional 3,260 shares in the last quarter. Highview Capital Management LLC DE grew its stake in Vertex Pharmaceuticals by 1.8% during the fourth quarter. Highview Capital Management LLC DE now owns 5,771 shares of the pharmaceutical company's stock worth $2,324,000 after purchasing an additional 102 shares during the period. Davidson Investment Advisors lifted its stake in Vertex Pharmaceuticals by 26.0% in the fourth quarter. Davidson Investment Advisors now owns 61,161 shares of the pharmaceutical company's stock valued at $24,630,000 after buying an additional 12,631 shares during the period. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Vertex Pharmaceuticals by 75.5% during the 4th quarter. Jones Financial Companies Lllp now owns 2,468 shares of the pharmaceutical company's stock worth $994,000 after buying an additional 1,062 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Bank of America lifted their price objective on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the company a "buy" rating in a research note on Monday, March 31st. Morgan Stanley lifted their price target on shares of Vertex Pharmaceuticals from $450.00 to $459.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 11th. Cantor Fitzgerald reissued an "overweight" rating and set a $535.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, April 22nd. Piper Sandler reduced their target price on Vertex Pharmaceuticals from $535.00 to $533.00 and set an "overweight" rating for the company in a research note on Monday, January 27th. Finally, Scotiabank upped their price target on Vertex Pharmaceuticals from $433.00 to $450.00 and gave the stock a "sector perform" rating in a research note on Tuesday, February 11th. Ten 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 stock. According to MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus target price of $514.91.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 244 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total value of $111,034.64. Following the sale, the executive vice president now directly owns 67,695 shares in the company, valued at $30,805,286.70. The trade was a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP David Altshuler sold 3,231 shares of the 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 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 disclosure for this sale can be found here. Insiders have sold a total of 4,315 shares of company stock worth $2,121,012 over the last three months. 0.20% of the stock is currently owned by insiders.

Vertex Pharmaceuticals Stock Performance

VRTX stock opened at $493.84 on Friday. The business has a 50 day moving average of $489.78 and a 200-day moving average of $466.35. The firm has a market cap of $126.81 billion, a PE ratio of -224.47, a P/E/G ratio of 2.11 and a beta of 0.50. Vertex Pharmaceuticals Incorporated has a 12-month low of $377.85 and a 12-month high of $519.88. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced 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 net margin of 4.86% and a negative return on equity of 2.02%. As a group, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

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.

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