Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Aveo Capital Partners LLC

Aveo Capital Partners LLC lowered its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 18.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 878 shares of the pharmaceutical company’s stock after selling 198 shares during the period. Aveo Capital Partners LLC’s holdings in Vertex Pharmaceuticals were worth $354,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Truist Financial upped their price target on shares of Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. JPMorgan Chase & Co. reduced their price target on shares of Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. Morgan Stanley upped their price target on shares of Vertex Pharmaceuticals from $450.00 to $459.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 11th. Cantor Fitzgerald restated an “overweight” rating and set a $480.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Finally, Wells Fargo & Company downgraded shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 price target for the company. in a research report on Thursday, January 30th. Ten analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $505.57.

Insider Buying and Selling

In related news, EVP Ourania Tatsis sold 310 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $459.83, for a total transaction of $142,547.30. Following the completion of the transaction, the executive vice president now owns 64,021 shares of the company’s stock, valued at approximately $29,438,776.43. This trade represents a 0.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Vertex Pharmaceuticals Stock Performance

Vertex Pharmaceuticals stock opened at $459.00 on Friday. The firm has a 50 day simple moving average of $435.69 and a 200-day simple moving average of $461.52. Vertex Pharmaceuticals Incorporated has a 1-year low of $377.85 and a 1-year high of $519.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20. The stock has a market cap of $118.21 billion, a price-to-earnings ratio of -230.65, a price-to-earnings-growth ratio of 1.80 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share 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%. On average, analysts expect that Vertex Pharmaceuticals Incorporated will post -1.94 EPS for the current year.

Vertex Pharmaceuticals Company 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.