Mission Wealth Management LP Sells 575 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Mission Wealth Management LP trimmed its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 8.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,052 shares of the pharmaceutical company's stock after selling 575 shares during the quarter. Mission Wealth Management LP's holdings in Vertex Pharmaceuticals were worth $2,437,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dunhill Financial LLC lifted its stake in shares of Vertex Pharmaceuticals by 70.6% during the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company's stock valued at $27,000 after buying an additional 24 shares in the last quarter. Simon Quick Advisors LLC raised 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 valued at $900,000 after acquiring an additional 24 shares during the period. Spinnaker Trust raised its holdings in Vertex Pharmaceuticals by 2.1% during 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. Strategic Advisors LLC lifted its position 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 worth $1,807,000 after acquiring an additional 25 shares in the last quarter. Finally, PDS Planning Inc boosted its holdings in shares of Vertex Pharmaceuticals by 3.3% in the third quarter. PDS Planning Inc now owns 842 shares of the pharmaceutical company's stock worth $392,000 after acquiring an additional 27 shares during the period. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 244 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were 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 in the company, valued at approximately $30,805,286.70. The trade was a 0.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 1,084 shares of company stock worth $505,512 in the last three months. 0.20% of the stock is owned by insiders.

Analyst Ratings Changes

VRTX has been the subject of several analyst reports. Scotiabank raised their target price on Vertex Pharmaceuticals from $433.00 to $450.00 and gave the stock a "sector perform" rating in a research note on Tuesday, February 11th. Morgan Stanley raised their price objective on shares of Vertex Pharmaceuticals from $450.00 to $459.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 11th. Jefferies Financial Group raised shares of Vertex Pharmaceuticals from a "hold" rating to a "buy" rating and upped their target price for the stock from $500.00 to $550.00 in a report on Monday, December 9th. William Blair reissued an "outperform" rating on shares of Vertex Pharmaceuticals in a report on Friday, January 31st. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Eleven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $506.70.

Vertex Pharmaceuticals Trading Up 1.4 %

Shares of NASDAQ:VRTX traded up $6.79 on Wednesday, reaching $493.01. 541,740 shares of the company traded hands, compared to its average volume of 1,480,437. Vertex Pharmaceuticals Incorporated has a 52 week low of $377.85 and a 52 week high of $519.88. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01. The business's 50-day simple moving average is $443.51 and its 200 day simple moving average is $461.12. The stock has a market capitalization of $126.60 billion, a P/E ratio of -224.26, a price-to-earnings-growth ratio of 2.11 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced 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 return on equity of 2.02% and a negative net margin of 4.86%. As a group, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

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.