Prudential Financial Inc. Has $67.71 Million Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Prudential Financial Inc. reduced its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 20.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 168,138 shares of the pharmaceutical company's stock after selling 42,095 shares during the quarter. Prudential Financial Inc. owned approximately 0.07% of Vertex Pharmaceuticals worth $67,709,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Truvestments Capital LLC boosted its position in Vertex Pharmaceuticals by 30.3% during the fourth quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock worth $40,000 after purchasing an additional 23 shares during the period. 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 buying an additional 24 shares during the last quarter. Simon Quick Advisors LLC boosted its holdings in shares of Vertex Pharmaceuticals by 1.1% during the 4th quarter. Simon Quick Advisors LLC now owns 2,236 shares of the pharmaceutical company's stock worth $900,000 after buying an additional 24 shares during the period. Spinnaker Trust boosted its holdings in shares of Vertex Pharmaceuticals by 2.1% during the 4th quarter. Spinnaker Trust now owns 1,235 shares of the pharmaceutical company's stock worth $497,000 after buying an additional 25 shares during the period. Finally, Strategic Advisors LLC grew its stake in Vertex Pharmaceuticals by 0.6% in the 4th quarter. Strategic Advisors LLC now owns 4,486 shares of the pharmaceutical company's stock valued at $1,807,000 after buying an additional 25 shares during the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 310 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $459.83, for a total transaction of $142,547.30. Following the transaction, the executive vice president now directly owns 64,021 shares in the company, valued at approximately $29,438,776.43. This represents a 0.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David Altshuler sold 3,231 shares of Vertex Pharmaceuticals stock in a transaction on Monday, March 10th. The shares were sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the completion of the sale, the executive vice president now owns 26,512 shares of the company's stock, valued at $13,256,000. This represents a 10.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,315 shares of company stock worth $2,121,012. 0.20% of the stock is currently owned by insiders.

Vertex Pharmaceuticals Trading Down 1.1 %

VRTX traded down $5.68 during trading on Friday, reaching $496.88. 378,702 shares of the company's stock were exchanged, compared to its average volume of 1,271,287. The firm has a fifty day moving average price of $475.04 and a two-hundred day moving average price of $463.61. The stock has a market capitalization of $127.59 billion, a PE ratio of -226.01, a price-to-earnings-growth ratio of 2.11 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a one year low of $377.85 and a one year high of $519.88. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01.

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 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, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on VRTX. Morgan Stanley boosted their price objective on Vertex Pharmaceuticals from $450.00 to $459.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 11th. Cantor Fitzgerald restated an "overweight" rating and issued a $480.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Truist Financial increased their price objective on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Piper Sandler reduced their target price on shares of 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, Needham & Company LLC reaffirmed a "hold" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Ten research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $506.70.

Vertex Pharmaceuticals Company 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.