New York State Teachers Retirement System Cuts Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

New York State Teachers Retirement System lowered its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 221,252 shares of the pharmaceutical company’s stock after selling 10,729 shares during the period. New York State Teachers Retirement System owned about 0.09% of Vertex Pharmaceuticals worth $89,098,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of VRTX. Edgewood Management LLC boosted its position in Vertex Pharmaceuticals by 7,876.3% during the third quarter. Edgewood Management LLC now owns 1,546,370 shares of the pharmaceutical company’s stock worth $719,186,000 after acquiring an additional 1,526,983 shares during the last quarter. WCM Investment Management LLC acquired a new position in Vertex Pharmaceuticals in the 4th quarter valued at about $435,899,000. Jennison Associates LLC raised its stake in shares of Vertex Pharmaceuticals by 18.1% in the 3rd quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company’s stock valued at $2,581,373,000 after acquiring an additional 851,054 shares during the period. Wellington Management Group LLP raised its stake in shares of Vertex Pharmaceuticals by 17.2% in the 3rd quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company’s stock valued at $2,231,858,000 after acquiring an additional 704,421 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in shares of Vertex Pharmaceuticals by 169.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 839,672 shares of the pharmaceutical company’s stock valued at $338,136,000 after acquiring an additional 528,029 shares during the period. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Up 2.1 %

Shares of Vertex Pharmaceuticals stock opened at $462.58 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47. Vertex Pharmaceuticals Incorporated has a one year low of $377.85 and a one year high of $519.88. The firm has a fifty day moving average of $435.70 and a two-hundred day moving average of $461.79.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 EPS for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. As a group, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.94 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on VRTX. Piper Sandler cut their target price 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. Cantor Fitzgerald reissued an “overweight” rating and issued a $480.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday. Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday. Morgan Stanley increased their price objective on shares of Vertex Pharmaceuticals from $450.00 to $459.00 and gave the company an “equal weight” rating in a research report on Tuesday. Finally, Citigroup initiated coverage on shares of Vertex Pharmaceuticals in a report on Thursday, November 14th. They issued a “buy” rating and a $575.00 target price for the company. Ten analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $505.96.

Insider Activity

In other news, EVP Ourania Tatsis sold 310 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 64,021 shares in the company, valued at $29,438,776.43. This trade represents a 0.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.