Rhumbline Advisers Lowers Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Rhumbline Advisers reduced its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 442,361 shares of the pharmaceutical company’s stock after selling 7,335 shares during the period. Rhumbline Advisers’ holdings in Vertex Pharmaceuticals were worth $178,139,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mutual Advisors LLC lifted its stake in shares of Vertex Pharmaceuticals by 0.6% during the 3rd quarter. Mutual Advisors LLC now owns 3,710 shares of the pharmaceutical company’s stock worth $1,751,000 after acquiring an additional 21 shares during the last quarter. Outlook Wealth Advisors LLC increased its stake in Vertex Pharmaceuticals by 2.8% in the third quarter. Outlook Wealth Advisors LLC now owns 892 shares of the pharmaceutical company’s stock worth $415,000 after purchasing an additional 24 shares during the period. Dunhill Financial LLC lifted its position in shares of 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 purchasing an additional 24 shares during the last quarter. Simon Quick Advisors LLC boosted its stake in shares of Vertex Pharmaceuticals by 1.1% during the fourth quarter. Simon Quick Advisors LLC now owns 2,236 shares of the pharmaceutical company’s stock valued at $900,000 after purchasing an additional 24 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Vertex Pharmaceuticals by 4.5% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 576 shares of the pharmaceutical company’s stock worth $268,000 after purchasing an additional 25 shares during the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

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 stock was sold at an average price of $459.83, for a total transaction of $142,547.30. Following the completion of the sale, the executive vice president now 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.20% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Truist Financial lifted their price objective on shares of Vertex Pharmaceuticals from $460.00 to $520.00 and gave the company a “buy” rating in a report on Tuesday. BMO Capital Markets decreased their price target on shares of Vertex Pharmaceuticals from $566.00 to $520.00 and set an “outperform” rating for the company in a research note on Friday, December 20th. Canaccord Genuity Group raised Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and increased their price objective for the stock from $408.00 to $424.00 in a research note on Tuesday. Royal Bank of Canada raised their price objective on Vertex Pharmaceuticals from $402.00 to $407.00 and gave the stock a “sector perform” rating in a report on Tuesday. Finally, Jefferies Financial Group upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and upped their target price for the stock from $500.00 to $550.00 in a report on Monday, December 9th. Ten research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $505.96.

Vertex Pharmaceuticals Trading Down 0.8 %

Vertex Pharmaceuticals stock opened at $459.00 on Friday. The business has a fifty day moving average price of $435.75 and a 200-day moving average price of $461.80. Vertex Pharmaceuticals Incorporated has a 1-year low of $377.85 and a 1-year high of $519.88. 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 (NASDAQ:VRTX) last issued its quarterly earnings results 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 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 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.