First Citizens Bank & Trust Co. Sells 1,410 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

First Citizens Bank & Trust Co. decreased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 5.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,989 shares of the pharmaceutical company’s stock after selling 1,410 shares during the period. First Citizens Bank & Trust Co.’s holdings in Vertex Pharmaceuticals were worth $12,087,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Annapolis Financial Services LLC acquired a new position in shares of Vertex Pharmaceuticals in the 1st quarter valued at $27,000. GHP Investment Advisors Inc. acquired a new position in shares of Vertex Pharmaceuticals during the 2nd quarter worth approximately $29,000. Stephens Consulting LLC acquired a new position in Vertex Pharmaceuticals in the 2nd quarter valued at about $31,000. Founders Capital Management increased its position in Vertex Pharmaceuticals by 50.0% during the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock worth $35,000 after acquiring an additional 25 shares during the period. Finally, ZRC Wealth Management LLC bought a new position in shares of Vertex Pharmaceuticals during the first quarter worth approximately $39,000. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Stock Down 3.2 %

Vertex Pharmaceuticals stock opened at $483.00 on Friday. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $124.64 billion, a P/E ratio of 31.34 and a beta of 0.40. The firm has a 50 day moving average price of $475.21 and a 200-day moving average price of $459.52. Vertex Pharmaceuticals Incorporated has a twelve month low of $341.90 and a twelve month high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share for the quarter, missing the consensus estimate of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the previous year, the company posted $3.53 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. As a group, equities analysts predict that Vertex Pharmaceuticals Incorporated will post -2.14 EPS for the current year.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 5,295 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the sale, the director now owns 40,000 shares of the company’s stock, valued at $20,320,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Sangeeta N. Bhatia sold 646 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $500.00, for a total transaction of $323,000.00. Following the transaction, the director now directly owns 4,435 shares in the company, valued at approximately $2,217,500. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bruce I. Sachs sold 5,295 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the transaction, the director now owns 40,000 shares in the company, valued at $20,320,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,487 shares of company stock worth $14,657,149. 0.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on VRTX. Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, July 26th. Bank of America cut their price target on shares of Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating on the stock in a report on Monday, October 14th. StockNews.com lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Redburn Atlantic assumed coverage on Vertex Pharmaceuticals in a research note on Thursday, June 27th. They issued a “buy” rating and a $545.00 price objective on the stock. Finally, Truist Financial restated a “buy” rating and set a $550.00 price target (up previously from $508.00) on shares of Vertex Pharmaceuticals in a report on Monday, August 5th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, Vertex Pharmaceuticals presently has an average rating of “Hold” and an average target price of $492.92.

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.