Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 24.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 435,838 shares of the pharmaceutical company’s stock after selling 142,613 shares during the period. Victory Capital Management Inc. owned 0.17% of Vertex Pharmaceuticals worth $177,338,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Arlington Trust Co LLC boosted its stake in Vertex Pharmaceuticals by 97.1% in the fourth quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock valued at $27,000 after acquiring an additional 33 shares in the last quarter. Fortitude Family Office LLC purchased a new position in Vertex Pharmaceuticals during the fourth quarter worth about $30,000. Baystate Wealth Management LLC raised its holdings in Vertex Pharmaceuticals by 49.0% during the fourth quarter. Baystate Wealth Management LLC now owns 76 shares of the pharmaceutical company’s stock worth $31,000 after purchasing an additional 25 shares in the last quarter. OFI Invest Asset Management purchased a new position in Vertex Pharmaceuticals during the third quarter worth about $25,000. Finally, NBC Securities Inc. purchased a new position in Vertex Pharmaceuticals during the third quarter worth about $34,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Analyst Ratings Changes

VRTX has been the subject of several analyst reports. Robert W. Baird cut shares of Vertex Pharmaceuticals from a “neutral” rating to an “underperform” rating and set a $325.00 price target for the company. in a report on Wednesday, January 31st. Royal Bank of Canada increased their price target on shares of Vertex Pharmaceuticals from $397.00 to $420.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 6th. HC Wainwright increased their target price on shares of Vertex Pharmaceuticals from $457.00 to $462.00 and gave the company a “buy” rating in a report on Thursday, April 11th. William Blair reaffirmed an “outperform” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, February 6th. Finally, Barclays increased their target price on shares of Vertex Pharmaceuticals from $446.00 to $472.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $429.45.

Insider Buying and Selling

In related news, EVP Amit Sachdev sold 3,222 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $420.24, for a total transaction of $1,354,013.28. Following the sale, the executive vice president now owns 74,364 shares in the company, valued at $31,250,727.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 354 shares of Vertex Pharmaceuticals stock in a transaction on Monday, February 26th. The shares were sold at an average price of $425.70, for a total value of $150,697.80. Following the transaction, the executive vice president now owns 55,804 shares in the company, valued at approximately $23,755,762.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Amit Sachdev sold 3,222 shares of Vertex Pharmaceuticals stock in a transaction on Monday, February 12th. The shares were sold at an average price of $420.24, for a total transaction of $1,354,013.28. Following the completion of the transaction, the executive vice president now owns 74,364 shares in the company, valued at approximately $31,250,727.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,381 shares of company stock worth $5,203,249. 0.20% of the stock is owned by insiders.

Vertex Pharmaceuticals Stock Up 2.4 %

Shares of NASDAQ VRTX opened at $402.14 on Thursday. Vertex Pharmaceuticals Incorporated has a 1 year low of $320.01 and a 1 year high of $448.40. The firm’s 50 day moving average price is $410.17 and its 200 day moving average price is $399.54. The firm has a market cap of $103.94 billion, a P/E ratio of 28.95, a price-to-earnings-growth ratio of 1.85 and a beta of 0.39. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.78 and a current ratio of 3.99.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, February 5th. The pharmaceutical company reported $4.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.85 by $0.35. Vertex Pharmaceuticals had a net margin of 36.68% and a return on equity of 21.91%. The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter last year, the business earned $3.33 earnings per share. As a group, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 14.95 earnings per share for the current 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.