Prudential PLC Has $10.28 Million Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Prudential PLC reduced its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 12.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,518 shares of the pharmaceutical company's stock after selling 3,769 shares during the period. Prudential PLC's holdings in Vertex Pharmaceuticals were worth $10,276,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VRTX. Dunhill Financial LLC raised its holdings in Vertex Pharmaceuticals by 70.6% during the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company's stock worth $27,000 after acquiring an additional 24 shares in the last quarter. Brown Lisle Cummings Inc. bought a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $30,000. Legacy Investment Solutions LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter valued at approximately $33,000. Sugar Maple Asset Management LLC bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at $35,000. Finally, Golden State Wealth Management LLC acquired a new position in Vertex Pharmaceuticals during the fourth quarter worth $37,000. 90.96% of the stock is owned by institutional investors.

Insider Buying and Selling

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

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Wall Street Analyst Weigh In

A number of analysts have recently issued reports on VRTX shares. StockNews.com raised Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Tuesday, March 11th. Stifel Nicolaus lifted their price objective on shares of Vertex Pharmaceuticals from $490.00 to $494.00 and gave the stock a "hold" rating in a research report on Monday, December 16th. HC Wainwright reissued a "buy" rating and issued a $550.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Piper Sandler reduced their target price on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an "overweight" rating for the company in a report on Monday, January 27th. Finally, Canaccord Genuity Group upgraded shares of Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and raised their price objective for the stock from $408.00 to $424.00 in a research report on Tuesday, February 11th. Ten research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Vertex Pharmaceuticals has an average rating of "Moderate Buy" and an average target price of $509.17.

Vertex Pharmaceuticals Price Performance

VRTX stock traded down $17.18 during trading on Thursday, reaching $465.12. 1,035,026 shares of the company were exchanged, compared to its average volume of 1,537,623. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88. The company has a market capitalization of $119.44 billion, a price-to-earnings ratio of -211.42, a P/E/G ratio of 2.11 and a beta of 0.50. 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 company has a 50-day moving average of $484.70 and a two-hundred day moving average of $464.03.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its 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, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share 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.