Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Mcrae Capital Management Inc.

Mcrae Capital Management Inc. lessened its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 2.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,078 shares of the pharmaceutical company's stock after selling 802 shares during the period. Vertex Pharmaceuticals accounts for approximately 2.5% of Mcrae Capital Management Inc.'s investment portfolio, making the stock its 19th largest holding. Mcrae Capital Management Inc.'s holdings in Vertex Pharmaceuticals were worth $12,515,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in VRTX. State Street Corp grew its position in shares of Vertex Pharmaceuticals by 0.8% in the 3rd quarter. State Street Corp now owns 11,816,249 shares of the pharmaceutical company's stock worth $5,495,501,000 after buying an additional 90,173 shares during the last quarter. Jennison Associates LLC boosted its stake in Vertex Pharmaceuticals by 18.1% in 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 in the last quarter. Wellington Management Group LLP grew its holdings in Vertex Pharmaceuticals by 17.2% in 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 purchasing an additional 704,421 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Vertex Pharmaceuticals by 5.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,905,705 shares of the pharmaceutical company's stock valued at $1,351,385,000 after purchasing an additional 159,693 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of Vertex Pharmaceuticals by 4.1% in the 3rd quarter. Janus Henderson Group PLC now owns 2,516,831 shares of the pharmaceutical company's stock worth $1,170,506,000 after purchasing an additional 100,114 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Price Performance

Shares of Vertex Pharmaceuticals stock traded up $3.11 on Tuesday, reaching $462.11. The company's stock had a trading volume of 1,405,218 shares, compared to its average volume of 1,546,074. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88. The company has a market capitalization of $119.01 billion, a P/E ratio of -232.22, a PEG ratio of 1.80 and a beta of 0.41. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average price of $435.39 and a 200-day moving average price of $460.67.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued 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 return on equity of 1.91% and a negative net margin of 4.52%. Analysts expect that Vertex Pharmaceuticals Incorporated will post -1.94 EPS for the current year.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 310 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $459.83, for a total transaction of $142,547.30. Following the completion of the transaction, the executive vice president now owns 64,021 shares of the company's stock, valued at $29,438,776.43. This represents a 0.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on VRTX. UBS Group increased their price target on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Barclays lifted their target price on shares of Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 11th. JPMorgan Chase & Co. cut their price target on shares of Vertex Pharmaceuticals from $503.00 to $500.00 and set an "overweight" rating on the stock in a research note on Monday, December 23rd. Canaccord Genuity Group upgraded shares of Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and lifted their price objective for the stock from $408.00 to $424.00 in a research note on Tuesday, February 11th. Finally, Scotiabank upped their target price on Vertex Pharmaceuticals from $433.00 to $450.00 and gave the company a "sector perform" rating in a research report on Tuesday, February 11th. Ten equities 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 stock. According to data from MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of "Moderate Buy" and an average price target of $505.57.

Vertex Pharmaceuticals Company 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.