L & S Advisors Inc Sells 406 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

L & S Advisors Inc lowered its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 12.6% during the fourth quarter, Holdings Channel reports. The firm owned 2,811 shares of the pharmaceutical company’s stock after selling 406 shares during the period. L & S Advisors Inc’s holdings in Vertex Pharmaceuticals were worth $1,132,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Allianz SE acquired a new position in Vertex Pharmaceuticals during the fourth quarter valued at approximately $9,585,000. Biondo Investment Advisors LLC increased its stake in shares of Vertex Pharmaceuticals by 0.7% in the 4th quarter. Biondo Investment Advisors LLC now owns 25,280 shares of the pharmaceutical company’s stock valued at $10,180,000 after purchasing an additional 185 shares during the last quarter. Allstate Corp acquired a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth $3,067,000. Brown Brothers Harriman & Co. lifted its position in shares of Vertex Pharmaceuticals by 14.7% during the 4th quarter. Brown Brothers Harriman & Co. now owns 2,842 shares of the pharmaceutical company’s stock worth $1,144,000 after buying an additional 364 shares during the last quarter. Finally, DnB Asset Management AS boosted its stake in Vertex Pharmaceuticals by 10.6% in the fourth quarter. DnB Asset Management AS now owns 200,942 shares of the pharmaceutical company’s stock valued at $80,919,000 after buying an additional 19,289 shares in the last quarter. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Down 2.0 %

Vertex Pharmaceuticals stock opened at $492.69 on Friday. 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 company has a market capitalization of $126.52 billion, a PE ratio of -223.95, a PEG ratio of 2.11 and a beta of 0.41. The firm’s fifty day moving average is $476.45 and its 200 day moving average is $463.71. Vertex Pharmaceuticals Incorporated has a 12-month low of $377.85 and a 12-month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 EPS for the quarter, missing the consensus estimate 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%. As a group, sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on VRTX shares. Jefferies Financial Group raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and lifted their price target for the company from $500.00 to $550.00 in a report on Monday, December 9th. Stifel Nicolaus boosted their target price on shares of Vertex Pharmaceuticals from $490.00 to $494.00 and gave the stock a “hold” rating in a research note on Monday, December 16th. HC Wainwright reiterated a “buy” rating and set a $550.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. JPMorgan Chase & Co. cut their price objective on Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. Finally, William Blair restated an “outperform” rating on shares of Vertex Pharmaceuticals in a research report on Friday, January 31st. Ten analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $506.70.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 244 shares of Vertex Pharmaceuticals stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total value of $111,034.64. Following the completion of the sale, the executive vice president now owns 67,695 shares of the company’s stock, valued at approximately $30,805,286.70. This trade represents a 0.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP David Altshuler sold 3,231 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the transaction, the executive vice president now owns 26,512 shares in the company, valued at approximately $13,256,000. The trade was a 10.86 % decrease in their position. 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. Company 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.