Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC cut its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 150,126 shares of the pharmaceutical company’s stock after selling 5,635 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $60,456,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the stock. Northwest Investment Counselors LLC acquired a new position in Vertex Pharmaceuticals during the 3rd quarter worth approximately $25,000. Dunhill Financial LLC raised its stake in Vertex Pharmaceuticals by 70.6% during the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after acquiring an additional 24 shares in the last quarter. Highline Wealth Partners LLC purchased a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter valued at about $27,000. Legacy Investment Solutions LLC purchased a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter valued at about $33,000. Finally, Truvestments Capital LLC acquired a new stake in shares of Vertex Pharmaceuticals in the third quarter valued at approximately $35,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Trading Up 0.1 %

Shares of NASDAQ:VRTX traded up $0.43 during mid-day trading on Wednesday, reaching $441.11. The stock had a trading volume of 199,806 shares, compared to its average volume of 1,443,730. The firm has a 50 day simple moving average of $434.75 and a two-hundred day simple moving average of $463.64. The firm has a market cap of $113.60 billion, a PE ratio of -221.55, a price-to-earnings-growth ratio of 2.20 and a beta of 0.40. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, beating analysts’ consensus estimates of $3.61 by $0.77. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter last year, the firm posted $3.67 EPS. The company’s quarterly revenue was up 11.6% on a year-over-year basis. On average, research analysts predict that Vertex Pharmaceuticals Incorporated will post -1.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

VRTX has been the subject of several recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $480.00 target price on shares of Vertex Pharmaceuticals in a research note on Friday, January 24th. Wells Fargo & Company cut their price target on shares of Vertex Pharmaceuticals from $555.00 to $460.00 and set an “overweight” rating for the company in a report on Friday, January 10th. Oppenheimer cut shares of Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Morgan Stanley increased their price target on Vertex Pharmaceuticals from $473.00 to $476.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Finally, Barclays reduced their target price on shares of Vertex Pharmaceuticals from $509.00 to $418.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $494.76.

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.