Vertex Pharmaceuticals Incorporated $VRTX Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lessened its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 11.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 46,786 shares of the pharmaceutical company’s stock after selling 6,015 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Vertex Pharmaceuticals were worth $21,211,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Colonial Trust Co SC raised its stake in Vertex Pharmaceuticals by 118.8% in the 3rd quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 38 shares during the last quarter. Eagle Bay Advisors LLC acquired a new stake in Vertex Pharmaceuticals during the 4th quarter worth $29,000. IMG Wealth Management Inc. boosted its stake in Vertex Pharmaceuticals by 277.8% during the 4th quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company’s stock worth $31,000 after purchasing an additional 50 shares during the last quarter. Ares Financial Consulting LLC purchased a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth $33,000. Finally, Archer Investment Corp grew its holdings in shares of Vertex Pharmaceuticals by 89.7% during the fourth quarter. Archer Investment Corp now owns 74 shares of the pharmaceutical company’s stock worth $34,000 after buying an additional 35 shares in the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Trading Down 2.3%

Shares of VRTX opened at $435.71 on Thursday. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $507.92. The firm has a market capitalization of $110.58 billion, a P/E ratio of 25.84, a P/E/G ratio of 1.91 and a beta of 0.30. The firm has a 50-day moving average price of $437.22 and a 200 day moving average price of $452.25.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 EPS for the quarter, topping analysts’ consensus estimates of $4.24 by $0.23. The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.99 billion. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. Vertex Pharmaceuticals’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.06 earnings per share. Equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 17.02 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus raised their price target on shares of Vertex Pharmaceuticals from $445.00 to $466.00 and gave the stock a “hold” rating in a research note on Friday, February 13th. Wall Street Zen cut shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, May 30th. Barclays increased their price objective on shares of Vertex Pharmaceuticals from $607.00 to $615.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Sanford C. Bernstein lowered their target price on Vertex Pharmaceuticals from $577.00 to $572.00 and set an “outperform” rating on the stock in a report on Tuesday, May 5th. Finally, Royal Bank Of Canada upped their price target on Vertex Pharmaceuticals from $541.00 to $543.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Twenty-two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $555.91.

Insider Transactions at Vertex Pharmaceuticals

In other news, EVP Joy Liu sold 1,104 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $425.02, for a total transaction of $469,222.08. Following the sale, the executive vice president owned 20,729 shares of the company’s stock, valued at approximately $8,810,239.58. The trade was a 5.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sangeeta N. Bhatia sold 318 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $423.73, for a total value of $134,746.14. Following the completion of the transaction, the director owned 4,924 shares in the company, valued at $2,086,446.52. This represents a 6.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 13,462 shares of company stock worth $6,095,195 in the last 90 days. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.