Strategy Asset Managers LLC Sells 1,805 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Strategy Asset Managers LLC reduced its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 40.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,709 shares of the pharmaceutical company's stock after selling 1,805 shares during the quarter. Strategy Asset Managers LLC's holdings in Vertex Pharmaceuticals were worth $1,260,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter valued at about $25,000. Highline Wealth Partners LLC bought a new position in shares of Vertex Pharmaceuticals during the 3rd quarter worth approximately $27,000. GHP Investment Advisors Inc. purchased a new stake in Vertex Pharmaceuticals during the second quarter valued at approximately $29,000. Stephens Consulting LLC acquired a new stake in Vertex Pharmaceuticals in the second quarter valued at approximately $31,000. Finally, Founders Capital Management grew its holdings in Vertex Pharmaceuticals by 50.0% in the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company's stock worth $35,000 after purchasing an additional 25 shares during the last quarter. Institutional investors own 90.96% of the company's stock.

Insiders Place Their Bets

In related news, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction on Friday, August 30th. The shares were sold at an average price of $500.00, for a total value of $323,000.00. Following the sale, the director now owns 4,435 shares of the company's stock, valued at approximately $2,217,500. This trade represents a 12.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the company's stock in a transaction on Friday, August 30th. The stock was sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the transaction, the chairman now owns 9,994 shares of the company's stock, valued at $4,987,006. This represents a 27.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,445 shares of company stock worth $2,218,394. Company insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Stock Down 4.1 %

Shares of VRTX stock opened at $448.01 on Wednesday. Vertex Pharmaceuticals Incorporated has a twelve month low of $346.29 and a twelve month high of $519.88. The stock has a market cap of $115.38 billion, a P/E ratio of -225.13 and a beta of 0.39. The stock has a 50 day moving average of $475.85 and a 200 day moving average of $472.89. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, beating the consensus estimate of $3.61 by $0.77. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same period in the previous year, the firm earned $3.67 EPS. The business's quarterly revenue was up 11.6% on a year-over-year basis. As a group, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post -1.82 EPS for the current year.

Analysts Set New Price Targets

VRTX has been the subject of several analyst reports. Royal Bank of Canada increased their price objective on Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a "sector perform" rating in a report on Tuesday, November 5th. Raymond James reaffirmed a "market perform" rating on shares of Vertex Pharmaceuticals in a research report on Thursday, October 10th. Oppenheimer lowered their price target on Vertex Pharmaceuticals from $550.00 to $540.00 and set an "outperform" rating for the company in a report on Wednesday, October 30th. Needham & Company LLC restated a "hold" rating on shares of Vertex Pharmaceuticals in a report on Friday, July 26th. Finally, Bank of America decreased their price objective on shares of Vertex Pharmaceuticals from $550.00 to $541.00 and set a "buy" rating for the company in a research report on Monday, October 14th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $499.12.

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.

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