Fairfield Bush & CO. Reduces Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Fairfield Bush & CO. lowered its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 44.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 779 shares of the pharmaceutical company's stock after selling 622 shares during the period. Fairfield Bush & CO.'s holdings in Vertex Pharmaceuticals were worth $314,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in VRTX. Brown Lisle Cummings Inc. bought a new position in Vertex Pharmaceuticals during the fourth quarter valued at approximately $30,000. Sugar Maple Asset Management LLC bought a new stake in shares of Vertex Pharmaceuticals during the 4th quarter valued at $35,000. Golden State Wealth Management LLC purchased a new position in shares of Vertex Pharmaceuticals during the 4th quarter valued at $37,000. Truvestments Capital LLC boosted its holdings in Vertex Pharmaceuticals by 30.3% in the 4th quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock worth $40,000 after buying an additional 23 shares during the period. Finally, Midwest Capital Advisors LLC purchased a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth about $41,000. Institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Performance

Shares of Vertex Pharmaceuticals stock traded up $3.21 during midday trading on Friday, hitting $489.10. The company had a trading volume of 1,205,462 shares, compared to its average volume of 1,330,372. The stock has a market cap of $125.60 billion, a price-to-earnings ratio of -222.32, a PEG ratio of 2.11 and a beta of 0.50. Vertex Pharmaceuticals Incorporated has a 12-month low of $377.85 and a 12-month high of $519.88. 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 company has a fifty day simple moving average of $486.76 and a 200 day simple moving average of $465.23.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 EPS 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%. As a group, analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on VRTX. Barclays lifted their price objective on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 11th. Morgan Stanley boosted their target price on shares of Vertex Pharmaceuticals from $450.00 to $459.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 11th. BMO Capital Markets set a $545.00 price target on Vertex Pharmaceuticals in a research report on Friday, January 31st. Needham & Company LLC reaffirmed a "hold" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Finally, StockNews.com raised Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Tuesday, March 11th. Ten research 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 company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $512.41.

Insider Activity at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 244 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total transaction of $111,034.64. Following the completion of the transaction, the executive vice president now owns 67,695 shares in the company, valued at approximately $30,805,286.70. The trade was a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP David Altshuler sold 3,231 shares of the company's 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 transaction, the executive vice president now owns 26,512 shares of the company's stock, valued at approximately $13,256,000. The trade was a 10.86 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,315 shares of company stock worth $2,121,012. Company insiders own 0.20% of the company's stock.

About Vertex Pharmaceuticals

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.