Frank Rimerman Advisors LLC Sells 2,036 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Frank Rimerman Advisors LLC trimmed its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 38.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,272 shares of the pharmaceutical company's stock after selling 2,036 shares during the period. Frank Rimerman Advisors LLC's holdings in Vertex Pharmaceuticals were worth $1,318,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Truvestments Capital LLC raised its holdings in shares of Vertex Pharmaceuticals by 30.3% during 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 in the last quarter. Dunhill Financial LLC boosted its position in Vertex Pharmaceuticals by 70.6% during the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company's stock worth $27,000 after buying an additional 24 shares during the period. Simon Quick Advisors LLC grew its holdings in Vertex Pharmaceuticals by 1.1% during the 4th quarter. Simon Quick Advisors LLC now owns 2,236 shares of the pharmaceutical company's stock worth $900,000 after acquiring an additional 24 shares during the last quarter. Spinnaker Trust increased its position in Vertex Pharmaceuticals by 2.1% in the 4th quarter. Spinnaker Trust now owns 1,235 shares of the pharmaceutical company's stock valued at $497,000 after acquiring an additional 25 shares during the period. Finally, Strategic Advisors LLC raised its stake in shares of Vertex Pharmaceuticals by 0.6% during the fourth quarter. Strategic Advisors LLC now owns 4,486 shares of the pharmaceutical company's stock valued at $1,807,000 after acquiring an additional 25 shares during the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of analysts recently weighed in on VRTX shares. Canaccord Genuity Group upgraded Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and increased their price objective for the company from $408.00 to $424.00 in a report on Tuesday, February 11th. Morgan Stanley raised their price objective on Vertex Pharmaceuticals from $450.00 to $459.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 11th. Jefferies Financial Group upgraded Vertex Pharmaceuticals from a "hold" rating to a "buy" rating and upped their target price for the company from $500.00 to $550.00 in a report on Monday, December 9th. Needham & Company LLC restated a "hold" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $550.00 price objective on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Ten equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $506.70.

Vertex Pharmaceuticals Stock Down 0.5 %

VRTX traded down $2.34 during midday trading on Thursday, reaching $510.18. 1,064,712 shares of the company were exchanged, compared to its average volume of 1,213,074. The company has a market cap of $131.01 billion, a price-to-earnings ratio of -231.90, a price-to-earnings-growth ratio of 2.11 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a one year low of $377.85 and a one year high of $519.88. The company's fifty day moving average price is $464.06 and its 200 day moving average price is $462.31. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69.

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 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 expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Insider Activity at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 530 shares of Vertex Pharmaceuticals stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $475.34, for a total transaction of $251,930.20. Following the sale, the executive vice president now directly owns 58,539 shares in the company, valued at approximately $27,825,928.26. This trade represents a 0.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 value 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 $13,256,000. This trade represents a 10.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,315 shares of company stock valued at $2,121,012 over the last ninety days. Corporate 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.