Raab & Moskowitz Asset Management LLC Decreases Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Raab & Moskowitz Asset Management LLC lowered its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,701 shares of the pharmaceutical company’s stock after selling 48 shares during the quarter. Raab & Moskowitz Asset Management LLC’s holdings in Vertex Pharmaceuticals were worth $685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Northwest Investment Counselors LLC purchased a new stake in Vertex Pharmaceuticals during the 3rd quarter valued at about $25,000. Dunhill Financial LLC increased its stake in 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 purchasing an additional 24 shares during the period. Highline Wealth Partners LLC bought a new stake in Vertex Pharmaceuticals in the third quarter valued at approximately $27,000. Legacy Investment Solutions LLC purchased a new stake in shares of Vertex Pharmaceuticals during the third quarter valued at approximately $33,000. Finally, Brown Lisle Cummings Inc. bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth approximately $30,000. 90.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Piper Sandler lowered their price target on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Scotiabank upped their price objective on shares of Vertex Pharmaceuticals from $433.00 to $450.00 and gave the company a “sector perform” rating in a research note on Tuesday. Jefferies Financial Group upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and increased their target price for the stock from $500.00 to $550.00 in a report on Monday, December 9th. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Tuesday. Finally, Barclays increased their price objective on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an “equal weight” rating in a report on Tuesday. Ten investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $505.96.

Vertex Pharmaceuticals Trading Down 0.4 %

NASDAQ:VRTX opened at $453.20 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20. Vertex Pharmaceuticals Incorporated has a one year low of $377.85 and a one year high of $519.88. The company’s 50-day simple moving average is $435.91 and its 200 day simple moving average is $461.85.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 EPS for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. As a group, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 310 shares of Vertex Pharmaceuticals stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $459.83, for a total value of $142,547.30. Following the completion of the transaction, the executive vice president now directly owns 64,021 shares of the company’s stock, valued at approximately $29,438,776.43. The trade was a 0.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.20% of the company’s stock.

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.