Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Stake Reduced by Alliancebernstein L.P.

Alliancebernstein L.P. reduced its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 46.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,920,020 shares of the pharmaceutical company's stock after selling 3,452,747 shares during the quarter. Alliancebernstein L.P. owned approximately 1.52% of Vertex Pharmaceuticals worth $1,578,592,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Dunhill Financial LLC raised its position in shares of Vertex Pharmaceuticals by 70.6% in the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company's stock worth $27,000 after buying an additional 24 shares during the period. Brown Lisle Cummings Inc. acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at about $30,000. Legacy Investment Solutions LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter worth about $33,000. 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 purchased a new position in Vertex Pharmaceuticals in the fourth quarter valued at approximately $37,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Vertex Pharmaceuticals

In related news, EVP David Altshuler sold 3,231 shares of the stock in a transaction dated 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 completion of 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 filing with the SEC, which is available at this hyperlink. Also, EVP Ourania Tatsis sold 244 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total transaction of $111,034.64. Following the sale, the executive vice president now owns 67,695 shares in the company, valued at $30,805,286.70. This trade represents a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,315 shares of company stock valued at $2,121,012. 0.20% of the stock is currently owned by corporate insiders.

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Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Piper Sandler dropped their price objective on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an "overweight" rating for the company in a research report on Monday, January 27th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $480.00 price target 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 research note on Friday, January 31st. William Blair reiterated an "outperform" rating on shares of Vertex Pharmaceuticals in a research note on Friday, January 31st. Finally, Barclays upped their price target on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 11th. Ten analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average target price of $509.17.

Vertex Pharmaceuticals Stock Performance

VRTX stock traded down $1.25 during mid-day trading on Wednesday, reaching $483.49. The company had a trading volume of 987,547 shares, compared to its average volume of 1,280,102. Vertex Pharmaceuticals Incorporated has a one year low of $377.85 and a one year high of $519.88. The stock has a market capitalization of $124.16 billion, a P/E ratio of -219.77, a P/E/G ratio of 2.11 and a beta of 0.41. 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 stock's 50-day simple moving average is $478.85 and its two-hundred day simple moving average is $463.67.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing analysts' consensus estimates 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%. Research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Vertex Pharmaceuticals 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.