UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 5.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,441,468 shares of the pharmaceutical company's stock after selling 142,859 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.95% of Vertex Pharmaceuticals worth $1,135,478,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of VRTX. Northwest Investment Counselors LLC acquired a new stake in Vertex Pharmaceuticals during the 3rd quarter worth approximately $25,000. Highline Wealth Partners LLC acquired a new stake in Vertex Pharmaceuticals during the 3rd quarter worth approximately $27,000. GHP Investment Advisors Inc. purchased a new position in Vertex Pharmaceuticals in the 2nd quarter worth approximately $29,000. Stephens Consulting LLC purchased a new position in Vertex Pharmaceuticals in the 2nd quarter worth approximately $31,000. Finally, Founders Capital Management boosted its holdings in Vertex Pharmaceuticals by 50.0% in the 2nd quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company's stock worth $35,000 after acquiring an additional 25 shares during the period. Institutional investors and hedge funds own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock traded down $2.51 during mid-day trading on Thursday, reaching $464.56. 1,006,922 shares of the company's stock traded hands, compared to its average volume of 1,458,124. Vertex Pharmaceuticals Incorporated has a 12 month low of $346.29 and a 12 month high of $519.88. The firm has a 50 day moving average price of $473.08 and a two-hundred day moving average price of $474.28. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47. The firm has a market capitalization of $119.64 billion, a PE ratio of -233.45 and a beta of 0.39.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.61 by $0.77. The firm had revenue of $2.77 billion for the quarter, compared to analysts' expectations of $2.69 billion. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The business's revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the company earned $3.67 EPS. On average, research analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.83 EPS for the current year.

Insiders Place Their Bets

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

Analyst Ratings Changes

A number of equities analysts have weighed in on VRTX shares. Canaccord Genuity Group upped their price target on Vertex Pharmaceuticals from $361.00 to $408.00 and gave the stock a "sell" rating in a report on Wednesday, November 6th. Citigroup assumed coverage on Vertex Pharmaceuticals in a report on Thursday, November 14th. They set a "buy" rating and a $575.00 price target on the stock. Royal Bank of Canada raised their target price on Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a "sector perform" rating in a research note on Tuesday, November 5th. Oppenheimer decreased their price target on Vertex Pharmaceuticals from $550.00 to $540.00 and set an "outperform" rating for the company in a research report on Wednesday, October 30th. Finally, HC Wainwright restated a "buy" rating and set a $600.00 price objective on shares of Vertex Pharmaceuticals in a research report on Monday, October 21st. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $504.38.

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.