Cyrus J. Lawrence LLC Reduces Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Cyrus J. Lawrence LLC decreased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 23.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,384 shares of the pharmaceutical company’s stock after selling 6,313 shares during the quarter. Cyrus J. Lawrence LLC’s holdings in Vertex Pharmaceuticals were worth $8,208,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Dunhill Financial LLC lifted its stake in shares of Vertex Pharmaceuticals by 70.6% during the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after buying an additional 24 shares in the last quarter. Brown Lisle Cummings Inc. purchased a new position in shares of Vertex Pharmaceuticals during the 4th quarter valued at $30,000. Legacy Investment Solutions LLC purchased a new stake in Vertex Pharmaceuticals in the 3rd quarter worth $33,000. Truvestments Capital LLC purchased a new stake in Vertex Pharmaceuticals in the 3rd quarter worth $35,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in Vertex Pharmaceuticals in the 4th quarter worth $35,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, EVP Ourania Tatsis sold 310 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $459.83, for a total value 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. This represents a 0.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David Altshuler sold 3,231 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 26,512 shares of the company’s stock, valued at $13,256,000. The trade was a 10.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,315 shares of company stock valued at $2,121,012 in the last three months. Company insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. HC Wainwright reiterated a “buy” rating and issued a $550.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Piper Sandler decreased their price target on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. Oppenheimer cut shares of Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Bank of America decreased their price target on shares of Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Finally, Barclays boosted their target price on shares of Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. Ten equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $506.70.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ:VRTX opened at $503.20 on Friday. The company has a market capitalization of $129.22 billion, a price-to-earnings ratio of -228.73, a PEG ratio of 2.11 and a beta of 0.41. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a 12 month low of $377.85 and a 12 month high of $519.88. The firm’s 50-day moving average is $467.89 and its 200 day moving average is $462.69.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (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%. Research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 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.