Twin Capital Management Inc. Sells 2,826 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Twin Capital Management Inc. cut its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 49.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,933 shares of the pharmaceutical company's stock after selling 2,826 shares during the quarter. Twin Capital Management Inc.'s holdings in Vertex Pharmaceuticals were worth $1,181,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of VRTX. Dunhill Financial LLC lifted 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. Legacy Investment Solutions LLC acquired a new position in shares of Vertex Pharmaceuticals in the 3rd quarter valued at approximately $33,000. Brown Lisle Cummings Inc. bought a new stake in Vertex Pharmaceuticals during the 4th quarter worth approximately $30,000. Sugar Maple Asset Management LLC acquired a new stake in Vertex Pharmaceuticals during the 4th quarter worth approximately $35,000. Finally, Golden State Wealth Management LLC bought a new position in Vertex Pharmaceuticals in the fourth quarter valued at approximately $37,000. 90.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

VRTX has been the topic of a number of research analyst reports. Scotiabank raised their price objective on shares of Vertex Pharmaceuticals from $433.00 to $450.00 and gave the stock a "sector perform" rating in a report on Tuesday, February 11th. Needham & Company LLC restated a "hold" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. BMO Capital Markets set a $545.00 price objective on Vertex Pharmaceuticals in a report on Friday, January 31st. Piper Sandler cut their target price on Vertex Pharmaceuticals from $535.00 to $533.00 and set an "overweight" rating on the stock in a research note on Monday, January 27th. Finally, Canaccord Genuity Group raised shares of Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and raised their price target for the stock from $408.00 to $424.00 in a research note on Tuesday, February 11th. Ten analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $512.41.

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Vertex Pharmaceuticals Stock Performance

VRTX traded up $8.73 during trading hours on Friday, reaching $484.22. The company's stock had a trading volume of 1,574,131 shares, compared to its average volume of 1,326,055. The company's 50-day moving average is $484.84 and its 200-day moving average is $464.28. Vertex Pharmaceuticals Incorporated has a 52 week low of $377.85 and a 52 week high of $519.88. The firm has a market cap of $124.34 billion, a PE ratio of -220.10, a price-to-earnings-growth ratio of 2.11 and a beta of 0.50. 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 issued its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share 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%. On average, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, EVP David Altshuler sold 3,231 shares of the stock in a transaction that occurred 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 $13,256,000. This represents a 10.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction 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 approximately $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 sold 4,315 shares of company stock worth $2,121,012 over the last three months. 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.