Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG lowered its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 7.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 55,896 shares of the pharmaceutical company's stock after selling 4,246 shares during the period. J. Safra Sarasin Holding AG's holdings in Vertex Pharmaceuticals were worth $22,509,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Advisory Resource Group raised its holdings in shares of Vertex Pharmaceuticals by 3.2% in the third quarter. Advisory Resource Group now owns 1,970 shares of the pharmaceutical company's stock worth $916,000 after buying an additional 61 shares during the last quarter. Anchor Investment Management LLC increased its position in shares of Vertex Pharmaceuticals by 1,352.3% in the 3rd quarter. Anchor Investment Management LLC now owns 1,583 shares of the pharmaceutical company's stock valued at $736,000 after acquiring an additional 1,474 shares during the period. World Investment Advisors LLC purchased a new position in Vertex Pharmaceuticals in the 3rd quarter worth $24,280,000. Wilmington Savings Fund Society FSB acquired a new stake in Vertex Pharmaceuticals during the 3rd quarter worth about $2,187,000. Finally, Destination Wealth Management grew its stake in Vertex Pharmaceuticals by 4.5% during the 3rd quarter. Destination Wealth Management now owns 3,361 shares of the pharmaceutical company's stock valued at $1,563,000 after purchasing an additional 144 shares during the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on VRTX. StockNews.com upgraded Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Tuesday, March 11th. Needham & Company LLC restated a "hold" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Royal Bank of Canada upped their price objective on shares of Vertex Pharmaceuticals from $408.00 to $420.00 and gave the company a "sector perform" rating in a report on Tuesday, April 1st. Barclays raised their target price on shares of Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 11th. Finally, Bank of America upped their price target on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the company a "buy" rating in a report on Monday, March 31st. 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, Vertex Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $514.91.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP David Altshuler sold 3,231 shares of Vertex Pharmaceuticals 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 sale, the executive vice president now owns 26,512 shares in the company, valued at $13,256,000. The trade was a 10.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ourania Tatsis sold 244 shares of the 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 transaction, the executive vice president now owns 67,695 shares of the company's stock, valued at approximately $30,805,286.70. This represents a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,315 shares of company stock worth $2,121,012 in the last 90 days. Insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Trading Up 0.0 %

Vertex Pharmaceuticals stock traded up $0.05 during trading on Thursday, reaching $492.47. 1,369,074 shares of the company were exchanged, compared to its average volume of 1,331,665. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35. The stock's 50 day simple moving average is $488.48 and its two-hundred day simple moving average is $465.82. The company has a market capitalization of $126.46 billion, a P/E ratio of -223.85, a PEG ratio of 2.11 and a beta of 0.50. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing the consensus estimate 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%. On average, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share 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.