Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Holdings Decreased by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury cut its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 7.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,189 shares of the pharmaceutical company's stock after selling 7,333 shares during the quarter. State of Tennessee Department of Treasury's holdings in Vertex Pharmaceuticals were worth $37,527,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Brown Lisle Cummings Inc. acquired a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth $30,000. Sugar Maple Asset Management LLC purchased a new stake in Vertex Pharmaceuticals during the 4th quarter worth about $35,000. Golden State Wealth Management LLC acquired a new position in Vertex Pharmaceuticals in the 4th quarter valued at about $37,000. Truvestments Capital LLC lifted 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 valued at $40,000 after purchasing an additional 23 shares in the last quarter. Finally, ORG Partners LLC boosted its stake in shares of Vertex Pharmaceuticals by 108.2% during the 4th quarter. ORG Partners LLC now owns 102 shares of the pharmaceutical company's stock worth $41,000 after purchasing an additional 53 shares during the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 244 shares of Vertex Pharmaceuticals stock in a transaction that occurred 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 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 filing with the SEC, which can be accessed through this hyperlink. Also, EVP David Altshuler sold 3,231 shares of the 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 sale, 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. In the last quarter, insiders sold 4,315 shares of company stock worth $2,121,012. Corporate insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Price Performance

Vertex Pharmaceuticals stock traded up $1.37 during trading hours on Friday, hitting $493.84. 1,561,491 shares of the company traded hands, compared to its average volume of 1,332,581. The firm's 50-day simple moving average is $489.14 and its two-hundred day simple moving average is $466.12. 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 firm has a market cap of $126.81 billion, a P/E ratio of -224.47, a P/E/G ratio of 2.11 and a beta of 0.50. Vertex Pharmaceuticals Incorporated has a 1-year low of $377.85 and a 1-year high of $519.88.

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

Wall Street Analyst Weigh In

VRTX has been the topic of several recent analyst reports. Truist Financial upped their price objective on shares of Vertex Pharmaceuticals from $460.00 to $520.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Wells Fargo & Company cut Vertex Pharmaceuticals from an "overweight" rating to an "equal weight" rating and set a $460.00 price objective on the stock. in a report on Thursday, January 30th. Canaccord Genuity Group upgraded Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and upped their target price for the company from $408.00 to $424.00 in a research note on Tuesday, February 11th. Barclays raised their price target 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. Finally, Morgan Stanley upped 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 note on Tuesday, February 11th. Ten equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $514.91.

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.