Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Pine Valley Investments Ltd Liability Co

Pine Valley Investments Ltd Liability Co reduced its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 14.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,636 shares of the pharmaceutical company’s stock after selling 269 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in Vertex Pharmaceuticals were worth $666,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of VRTX. Norges Bank purchased a new position in Vertex Pharmaceuticals in the fourth quarter worth $1,237,877,000. abrdn plc grew its holdings in Vertex Pharmaceuticals by 196.0% in the 4th quarter. abrdn plc now owns 581,018 shares of the pharmaceutical company’s stock valued at $236,410,000 after buying an additional 384,730 shares during the period. BSN CAPITAL PARTNERS Ltd purchased a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth about $81,378,000. Jennison Associates LLC grew its holdings in shares of Vertex Pharmaceuticals by 3.9% during the 4th quarter. Jennison Associates LLC now owns 3,944,913 shares of the pharmaceutical company’s stock worth $1,605,146,000 after purchasing an additional 147,248 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Vertex Pharmaceuticals by 4.9% during the 3rd quarter. Northern Trust Corp now owns 2,813,563 shares of the pharmaceutical company’s stock worth $978,388,000 after purchasing an additional 131,539 shares during the period. 90.96% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 354 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $425.70, for a total transaction of $150,697.80. Following the completion of the transaction, the executive vice president now owns 55,804 shares of the company’s stock, valued at $23,755,762.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on VRTX shares. Wolfe Research started coverage on Vertex Pharmaceuticals in a report on Thursday, February 15th. They issued an “outperform” rating and a $515.00 price target for the company. Canaccord Genuity Group restated a “sell” rating and issued a $371.00 price target on shares of Vertex Pharmaceuticals in a report on Friday, April 12th. William Blair restated an “outperform” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, February 6th. Wells Fargo & Company upped their price target on Vertex Pharmaceuticals from $500.00 to $540.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. Finally, Evercore ISI upgraded Vertex Pharmaceuticals from an “in-line” rating to an “outperform” rating and set a $438.00 price target for the company in a report on Thursday, April 11th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $432.18.

Vertex Pharmaceuticals Stock Performance

VRTX traded up $0.66 during trading on Monday, reaching $445.87. 742,232 shares of the company were exchanged, compared to its average volume of 1,215,635. The stock has a market cap of $115.06 billion, a P/E ratio of 29.03, a PEG ratio of 2.13 and a beta of 0.39. The firm has a 50 day moving average of $409.75 and a 200 day moving average of $404.53. The company has a current ratio of 3.50, a quick ratio of 3.29 and a debt-to-equity ratio of 0.02. Vertex Pharmaceuticals Incorporated has a 52 week low of $320.01 and a 52 week high of $448.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.66 by $1.10. Vertex Pharmaceuticals had a return on equity of 23.08% and a net margin of 39.46%. The company had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter in the prior year, the business posted $2.67 earnings per share. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. On average, sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.28 EPS 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.