Avantax Advisory Services Inc. Trims Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Avantax Advisory Services Inc. lessened its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 8.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,471 shares of the pharmaceutical company's stock after selling 1,037 shares during the quarter. Avantax Advisory Services Inc.'s holdings in Vertex Pharmaceuticals were worth $4,619,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Edgewood Management LLC grew its position in Vertex Pharmaceuticals by 7,876.3% in the 3rd quarter. Edgewood Management LLC now owns 1,546,370 shares of the pharmaceutical company's stock worth $719,186,000 after purchasing an additional 1,526,983 shares in the last quarter. WCM Investment Management LLC bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at approximately $435,899,000. Jennison Associates LLC increased its position in shares of Vertex Pharmaceuticals by 18.1% during the third quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company's stock valued at $2,581,373,000 after acquiring an additional 851,054 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Vertex Pharmaceuticals by 17.2% during the third quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company's stock worth $2,231,858,000 after acquiring an additional 704,421 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in Vertex Pharmaceuticals by 169.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 839,672 shares of the pharmaceutical company's stock worth $338,136,000 after purchasing an additional 528,029 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company's stock.

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Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on VRTX shares. Stifel Nicolaus raised their target price on Vertex Pharmaceuticals from $490.00 to $494.00 and gave the company a "hold" rating in a research report on Monday, December 16th. Needham & Company LLC restated a "hold" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Morgan Stanley boosted their target price 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. HC Wainwright restated a "buy" rating and set a $550.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Finally, Royal Bank of Canada upped their price objective on Vertex Pharmaceuticals from $407.00 to $408.00 and gave the company a "sector perform" rating in a research note on Thursday, February 20th. Ten research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $506.70.

Insider Buying and Selling

In other news, EVP Ourania Tatsis sold 244 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total value of $111,034.64. Following the completion of the sale, the executive vice president now owns 67,695 shares of the company's stock, valued at approximately $30,805,286.70. The trade was a 0.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP David Altshuler sold 3,231 shares of the firm's stock in a transaction that occurred 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 in the company, valued at approximately $13,256,000. The trade was a 10.86 % decrease in their ownership of the stock. 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 in the last 90 days. 0.20% of the stock is owned by company insiders.

Vertex Pharmaceuticals Price Performance

Shares of VRTX stock traded up $0.29 during trading on Wednesday, hitting $512.52. The company had a trading volume of 1,123,986 shares, compared to its average volume of 1,212,340. Vertex Pharmaceuticals Incorporated has a 52 week low of $377.85 and a 52 week high of $519.88. The stock has a market capitalization of $131.61 billion, a price-to-earnings ratio of -232.96, a price-to-earnings-growth ratio of 2.11 and a beta of 0.41. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01. The stock's 50-day moving average is $462.05 and its two-hundred day moving average is $461.95.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings results 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, analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

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.